IAMNEO EDUTECH PRIVATE LIMITED

In their own words

From Coimbatore to the world was our vision. We wanted to democratize the talent skilling, upskilling and IT talent recruitment industry as training and acquiring talented skilled workers anywhere in the world is a borderless initiative. Hailing from Tier 2 colleges and towns, we observed first hand that companies do not recruit below Tier 1 quoting lack of exposure to problem solving and hands-on coding abilities. Therefore, to compete with the global talent and make one ready for absorption, it takes a lot of hands-on practice and exposure to real-world software development challenges, rather than just academic excellence. Regardless of the candidate's university credentials or geography the idea was to enable anyone to learn software development and leverage technology for talent distribution. “87% of companies already face a skills shortage or anticipate developing one over the next few years”- McKinsey & Company “The world is facing a reskilling emergency. And due to the COVID-19 pandemic, skills gaps (especially in tech) have only widened. The cost of reskilling averages $24,800 per worker” - WEF “Since the cost of replacing an employee average one-half to twice their annual salary, investing in an employee’s development can help employers save significantly on turnover costs” - Gallup In India firms like TCS and Accenture have spent over a billion dollars in training using latest software and this figure it expected to grow. Employee training and development is an expensive proposition. Though it requires an upfront investment, offering employees upskilling, reskilling, and development opportunities can be critical for retention, particularly in today’s competitive hiring environment. The need for effective programs is clear but how can companies identify the most cost-effective options and track their success? The major challenge for corporates is to make the candidates industry ready, resulting in a huge revenue loss. From 2010 onwards, we have witnessed a major transformation in the IT upskilling and assessment segment. The past decade has seen an exponential growth in the demand for skilled IT workforce. The Global IT Services Market size is expected to reach $1123.57 billion by 2026, growing at a CAGR of 8.02% during 2021-2026, meanwhile in 2021 the talent shortage in IT was 40 million skilled workers globally! This prompted us to come up with a solution that can do IT upskilling at a scale. The opportunity to launch a B2B edtech startup solving for IT Upskilling and skill assessment challenges at scale, was triggered by the gaps we noticed both in the University training ecosystem as well as talent onboarding in volume hiring ITeS firms. Our AI driven adaptive learning platform caters to students, Universities and Corporate L&D in all their needs of learning, upskilling, assessment and recruiting. We realized based on our experience in Education and the IT Industry, for more than a decade, we have to solve for the end of the funnel rather than the beginning of the funnel. In Elon Musk’s words - “think from the first principle”. Even Large IT Product companies and startups started realizing that coding is a sport! Where it takes enough hands-on practice rather than listening to lectures and poring over books, however, learning and assessment methods were still traditional in their approach. Hence, we developed a Developer LMS with auto evaluation engine, which will address the gap effectively and considerably reduce the cost and the time taken to make these candidates billable.

Written by the company on its public Startup India profile. Not verified by us.