With 65 per cent of India’s workforce under 35 and a global thirst for skilled professionals, the study abroad industry is poised for explosive growth. At the helm of this wave is Amit Singh, founder of UniScholars, a one-stop platform empowering students to navigate their international education journeys. In an exclusive interview with Bizz Buzz, Singh delves into the future of the industry, UniScholars’ unique offerings, and the challenges facing aspiring global learners
What do you see for the future of the study abroad industry?
The study abroad industry has tremendous potential to grow, especially with India having 65 per cent of the youth workforce; we are bound to see a surge in students and professionals opting for international courses to upscale their knowledge and skill set.
Since last year, India has had the highest number of students going to the UK. With the UK having opened its graduate route VISA, UniScholars has noticed a considerable surge in students who wish to study in the UK. We think that the UK will continue to remain the destination of choice for students. Other developments like Australia having opened its borders and USA increasing its VISA window, students have many more opportunities to consider. All in all, the industry is projected to grow exponentially in the coming years and being an organised solution in an unorganised category at the juncture of a booming industry makes us hopeful for the near future.
Do share some business growth metrics.
Even though Covid-19 disrupted businesses, our study abroad ecosystem was profitable right since its inception. We started with the UK and grew 4-fold by expanding to seven more regions swiftly. In a situation where businesses were finding it difficult to launch new products, we managed to upscale three fully functional business units by helping students get study abroad loans through our lending arm – UniCreds and providing safe and premium housing through our accommodation platform – UniAcco. This ensured that the student felt comfortable, safe and secure throughout their journey even when there was global unrest. The business has grown 25 times since its inception. We are now a team of over 500 employees in total with our offices in Mumbai, Delhi, Hyderabad, Chennai and Bangalore.
Please tell us a little about your entrepreneurial journey…
My entrepreneurial journey has been a delicate balance of challenges and experiences which have engraved important life lessons in my mind. These experiences have provided the wisdom it takes to lead a team of talented individuals. Through the course of this journey, I have been able to connect with like-minded individuals who continue to add immense value to my professional and personal life. If I were to sum up this entire experience, I would say that the journey has been and will remain transcending for me.
What was the inspiration behind your company?
A student starting their study abroad journey faces many challenges. When we noticed that students have scattered information about universities, application processes and other facets of studying abroad, we realised the need for having an integrated solution that addresses every need of the student who wishes to study abroad. Keeping the fear and confusion of students in mind, UniScholars was launched to complete our ecosystem with our financing arm – UniCreds and accommodation solution – UniAcco. UniScholars aligns with our ideology of Indian students having the opportunity to get global exposure.
What services or product(s) do you offer?
UniScholars is a one-stop solution for all students aspiring to study abroad. Our exclusive offerings for students include test preparation, personalized counselling, visa application assistance, financing options, accommodation support, and post-landing Value-Added Services (VAS).
What are the challenges you face?
Today the market has many unorganised platforms providing scattered information and services to students who want to study abroad. When students come to our counsellors, they are not sure about what is best for them. Their fear of not being able to achieve their dreams has to be eased by counsellors, making it an everyday challenge. Apart from these fears, the ongoing student housing crisis and depreciation of the Indian currency has added on to the stress and confusion of students.
What are your differentiating factors in comparison to your competitors?
Keeping the needs of students in mind, we have integrated their entire study abroad journey through one platform. UniScholars’ lending arm UniCreds and accommodation platform UniAcco, serve as an end-to-end solution. Right from test prep, AI-based university shortlisting and VISA support to our post-landing VAS services, we support our students till they settle in the new country. This is a major differentiating factor in comparison to competitors. We can confidently say that a student who comes to UniScholars will experience a seamless journey through assistance in every step of the journey.
Share your strategy on how the recent expansion will be leveraged for the brand growth…
South is a key market for us, and we intend to grow our presence in this region. Over the years, Telangana has seen a rise in the number of students opting for overseas education. Sources state that Hyderabad leads the list with a 135 per cent hike in students eager to map their higher educational journey in foreign universities. As the number is expected to increase in the coming years, we are geared to facilitate a seamless and holistic study abroad experience for students from this region and plan to strengthen our presence in other major cities in the South.
The new office marks a significant milestone in the company’s expansion plans. It will serve as a hub to improve student outcomes through technology-enabled personalised study abroad solutions, by utilising cutting-edge technologies such as AI-based shortlisting. UniScholars will assist students from Hyderabad and nearby towns aspiring to pursue their education abroad with test preparation, counselling, visa assistance, abroad education loans via its lending arm UniCreds and housing via its student accommodation solution – UniAcco, making it a one-stop solution for study abroad needs.