Saturday, May 07, 2011

Educomp, Great Lakes to invest Rs. 1.5 billion in e-learning

IT company Educomp today said it has joined hands with Great Lakes Institute of Management to provide e-learning education and the two partners will invest Rs. 150 crore (Rs. 1.5 billion) in the venture in next five years. Great Lakes Institute of Management in partnership with Educomp will start rolling out franchisees to conduct higher education programme and training in tier-II cities.

"Investment of Rs. 150 crore in the programme is our initial estimate for expansion. It will be used to create additional campuses of Great Lakes and development of e-learning platform to run the courses," Educomp Managing Director Shantanu Prakash told reporters here.

Great Lakes Dean and founder Bala V Balachandran claimed that e-learning based education would be provided at one-tenth of present fees being charged from the students on the campus. "In class fee (fees charged to student on campus) for full-time two year post graduate management programme is around Rs. 10 lakh (Rs. 1 million). Pricing will be different for different courses and environment. If you are in virtual learning atmosphere then you will have to only 10% of the fees," Balachandran said.

"We will roll out franchisees in tier-2 cities for expanding our reach and take high education to masses," Prakash said. Prakash mentioned that the e-learning platform for running courses will be ready within next six months.

The expansion plan of Great Lakes on e-learning platform will be spread over period of five years and the investment amount announced today will be used for domestic expansion only. As part of this expansion plan, Great Lakes in partnership with Institute of Energy Management and Research (IEMR) announced to set-up a management study campus in Gurgaon.

Source: Business Standard, May 7, 2011

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