City-based SmartLearn Edutech Private Limited, which is into education-related business, has set a target of Rs 100 crore turnover in the next three years. The company would invest around $10 million (Rs 50 crore) in these three years to tap the Rs 10,000 crore IIT-JEE coaching market with its newly-launched web TV module.
“We plan to tap Tier II and Tier III markets initially and are targeting to enroll 3,000 students in the first year of its operations,” Swaminathan K, chief executive officer, SmartLearn Edutech, said.
It would focus on students who take training courses through correspondence as they constitute about 60 per cent of the market. Through this expansion, the company is looking at a revenue of about Rs 4 crore in the first year, he added.
The company also plans to set up around eight offices by July and acquire 40 franchises by the end of the year for marketing and distribution. It will also connect to 1,000 schools in the next quarter.
Smart Learn Web TV, a site developed by a group of IITians, provides video lectures and around 3,000 pages of printed material with core concepts, illustrations and worked examples for the IIT aspirants. The site also uses a technology called Smart Stream to deliver video with near zero buffering.
The company also plans to offer training programmes for AIEEE, CAT and other competitive exams in phases. It has so far invested around $1 million (Rs 5 crore) in product development.
