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Every year over 1.6Mn students graduate with an engineering degree, but only 3% of them are employable. Students spend Lakhs in fees and years in a college that barely impacts their skill levels. While students look at engineering education as a way to liberate themselves from social and economic barriers, colleges run them as a business with no focus on impact. The fees collected from tier 3 colleges (with abysmal placement rates) itself amounts to $17B annually. At the end of it all, we have one of the largest populations of educated yet unemployable graduates in the world. A research conducted by Stanford suggests 83% correlation between Educational outcomes and GDP Growth. And our engineering colleges have near ZERO educational outcomes.
In an attempt to create a level playing field for everyone, we started InterviewBit Academy which is a 6-month long tech university with no upfront fees. You only pay when you find a high paying job in tech. We have been software engineers ourselves in top tech companies and we know what is required to succeed in tech. As such, we teach things that matter in tech. We started our first batch in April and we launch a new batch every month. We intake 300 people every month with more than 20k people who are in waitlists. We are off to a great start with really high classroom ratings, extremely high engagement (People spend ~5 hours daily on the site). Our early placements stories are very humbling, to say the least. We are already seeing people get 6x hikes in salaries.
We are uniquely positioned to be the best company to execute things as mentioned. We had been running InterviewBit.com for the last 4 years which has helped us create a community of ~700k software developers across 6 Geographies. Practicing on InterviewBit in the third year and fourth year of engineering college is a more or less religious tradition. Apart from that, we have tie-ups with 550+ companies in India, Europe,SEA, and the US who rely on us for their tech hiring. Our instructors come from companies like Facebook, Amazon, Directi and are some of the best in the business