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strategy

Company

TechBuddyConsulting

Founders

Prasoon Gupta (in picture right)

Abhishek Sharma (in picture centre)

Ankush Sharma (in picture left)

Nikhil Chowdhary Tanmaya Mathur

Location

New Delhi, Jaipur,

Udaipur, Mumbai

Numberofemployees

9

Founded

November 2008

Revenue last month

2.25 lakh

Projected revenue for next year

95 lakh

Businessmodel

TechBuddy conducts skill training programmes with colleges and students. Fees are mostly borne by students

Chargesforservices

5,000 to 15,000 per student

Sizeofclientbase

500 plus students across 15 educational institutions

Fundingsought

60 lakh

Fundingsoughtfor

Online and offline marketing, and to develop the technology platform

Elevator Pitch

TechBuddy Consulting helps students become job-worthy.

Can it tutor investors to give it 60 lakh?

The Pitch “TechBuddynurturescollegegraduates.Itworksontheirstrengths andhelpsthemfocusontheirintereststherebyenhancingtheiremployability. Ourshort-termandlong-termGyanBuddyprogrammemodulesofferstudents standardisedqualitycontent,developedanddeliveredbyindustryexperts.The syllabusisrelevantandupdated.Wefocusonpracticalapplicationstomakethe programmesinterestingandeffective,whichguidestudentstooptforcareersin theirinterestareas.Byhelpingstudentsfindjobsthattheywishtokeep,Tech- Buddyhelpslowerindustryattritionrates.Becausewecandelivercontentboth physicallythroughourcentresandvirtuallythroughourTechBuddyplatform, thisisascalablemodel.Thishybridapproachdifferentiatesusfromothersimilar marketofferings.”—As told to Charu Bahri

Investors Weigh In

PROVE YOUR WORTH

TechBuddy’s success in attracting investors depends on getting it right. Our experience suggests that it helps to tailor design packages for students coming from different streams. That helps serve the target placement market better. At the end of the day, it’s the programme’s quality and result which will attract funds. If the programme delivers, the charges ( `5000-`15,000) will contribute to healthy revenues. The pitch must clearly show how the results are being measured. Are previously unemployed students getting placed in jobs of their choices? Are students who had job offers in hand, being able to improve upon their options?

Dr Ashok Jhunjhunwala, Professor, IIT Madras, Chennai

TWEAK the MODEL

Investors are likely to wonder why the company hasn’t been able to scale up—500 students in three years is not a very large number. Training to bridge the education- industry gap may be offered in several ways. It could be a part of the curriculum, it could be imparted directly to students or institutions may offer this training to students as an add-on service and pass on the cost. There’s a lot that may be done by way of devel- oping a business model. The pitch must describe what kind of train- ing is being offered and how well it can be offered online. For instance, investors might question the feasibility of imparting soft skills training solely online.

Meena Ganesh, CEO & MD Pearson Education Services, Bengaluru

HIGHLIGHT KEY DIfFERENTIATORS

India’s private education sector is slated to be worth around $40 billion. It’s expected to grow by 70 per cent in three years. Tech- Buddy Consulting is in a high- growth space. But it needs to put in more work on its business plan. It needs to mention names of its competitors. If it genuinely believes that it offers a unique service, then the team must show how its services differ from what is already available— investors will want to see how TechBuddy stands out. The team must demonstrate the break-even point and risk fac- tors. Lastly, any investor will be interested to see a clear exit and fund deployment strategy.

Srini Chakwal, MD Redclays Capital, Bengaluru

november 2011 | INC. | 61

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