Delhi: In a bid to increase its footprint in the country, USA’s oldest private school, Rutgers Prep has entered into an exclusive partnership with a Gurugram based company Edovu Ventures, an Indian educational firm which has deep investment interests in Indian education sector. The move is expected to provide the much needed capital and quality infusion in the system. Under the joint venture, Edovu ventures is the only educational firm in India, Introducing senior Secondary school of entire American teaching methodology.
The joint Ventures expects to generate a revenue of about 1654 million and 3663 million from Pre-schools and formal K-12 schools against an expected expenditure of about 976 million and 1089 million respectively by the year 2023-24. They are expected to make a net profit of almost 3252 million from their primary and secondary school chains.
Edovu Ventures with Rutgers Prep has an expanding portfolio in education sector. It has already been setting up pre and formal schools in India. At the end of FY 2017-18, there were about 57 pre-schools and 3 formal schools in India. They are expected to increase to about 129 and 16 respectively by the end of the FY 2018-19. The target is to scale it up to about 313 and 35 by 2019-20 and 904 and 130 by 2022-23, respectively.
Under the agreement with Rutgers, Edovu Ventures will establish American EduGlobal School and American Eduworld schools across India. They cater to primary and K-12 curriculums respectively. The idea has been to shift the focus away from traditional teaching methods to modern ones. Through the partnership, schools in India will receive support in academics, social entrepreneurship and participation in global society. Edovu Ventures has already introduced more than 30 USA based quality play school, Discovery Montessori USA.
“Over 150 years ago the Rutgers Prep community welcomed the first international students and began our vision toward a connected global community. This next step in the path to an interconnected global community will support that vision. The addition of the American Eduglobal School and American Eduworld School will add to the growing number of new, global education programs in India. Through the Rutgers Prep partnership, we will support the schools with our expertise in academics, social entrepreneurship, and participation in the global society. “Said Dr. Kevin Merges, Executive Director, Global Education Programs, Rutgers Preparatory School.
To set up such a vast network of schools, a lot of financial investment is needed. Edovu Ventures is planning to pump in almost 90 million which will be utilized in Branding, Purchase of Materials, IT Advancements, Office Expenses, staff welfare, Marketing and sales, operations and Academics.
“In my view, there are two obstacles that are hurting the quality of education most. One, the low level of investment and two, the absence of dynamic curricula. The syllabus and teaching methodologies as we see now is largely static. There is a visible gap between industry requirements and student capabilities. Edovu Venture not only provides capital to franchisees in education sector but also helps them in designing a curriculum that focus more on practical knowledge than regular academics. Our unique 4 lab system is aimed at not only bringing about an all-round development of a child but also prepares them to face the new challenges emerging out of new technologies.” Said P.K. Samal, Managing Director of Edovu-ventures.
About, Rutgers Preparatory School
Founded in 1766 in Somerset, New Jersey, the Rutgers Preparatory school has long established itself as a leader in education sector. With a primary focus on community based education system, it has been credited with developing numerous advance programs to enhance the quality of learning in New Jersey schools. One of the first secondary schools to be affiliated with United Nations through the Department of Public Information (UN – DIP), Rutgers has a long history of international participation with different players in education sector, both at home and abroad.
About, Edovu Ventures
Edovu Ventures is one of the leading educational service provider in India as well as for Asian and Australian Sub- Continent. The Company provides different services in education domain such as USA based playschools, USA based Senior Secondary Schools and also providing online programs, consultancy for establishing institutions and universities. Edovu Ventures have a wider view of the global education system. They are expanding knowledge for the betterment of the society and “Ensuring Learnings for Life” for a better education system is our goal. We aspire to be among the Top 15 Education Management Company by 2022.