Dev Clever’s,wholly-owned Indian subsidiary and Veative Labs Pvt Ltd (“Veative”) have agreed a material extension to their partnership with the CSC Academy in India (“CSC Academy”).
This follows the pilot announced on 29 June 2021, when the Company stated that its immersive learning and careers platform would go live in 25 of the c. 5,930 CSC academy centres and it would assess the foundation programme of STEM-based immersive learning and careers guidance. Following the successful completion of this pilot, the CSC Academy and Dev Clever have agreed a foundation programme for phase two – with Dev Clever’s proprietary immersive career guidance and learning platform to be rolled out to all CSC academy centres across India. As a result, in phase two the foundation programme will be offered to 2.6 million students and will begin to be rolled out in Q1 2022. During this phase, Dev Clever will receive a one-off on-boarding fee and an annual SaaS-based subscription fee for each student, to be paid directly by the CSC Academy on behalf of the student.
In addition to the foundation programme, students will be given the opportunity to upgrade the service to a premium subscription and access additional learning content as well as live one-to-one career counselling sessions, delivered virtually through the launchmycareer.com platform. Dev Clever has agreed to work with the CSC Academy to offer students a Launchmycareer (“LMC”) Careers counsellor training programme that will provide a recognised qualification and, in anticipation of the demand for this premium subscription service, Dev Clever has already started onboarding career consultants.
It is the express intention that, subject to success during phase two, there will be a further opportunity to formalise the expansion of launchmycareer.com beyond the CSC academies to the broader 350,000 CSC centres and its tens of millions of users.
Chris Jefferies, CEO Dev Clever, said:
“The Indian Government’s recognition of the importance of career development for its young people is a pivotal moment in its intention to bring positive and lasting educational change to its citizens, and particularly its youth. Our now broader remit is yet another endorsement of our ability to support India with the technological knowhow in bringing about this change. It also has extremely positive implications for Dev Clever with the fees generated during phase two expected to bring material revenues into the Company.
“We are also extremely excited to be working with the CSC and to be able to jointly offer an initial 2.6 million students the opportunity of a recognised qualification in careers counselling that will provide employment for those students seeking a job in this area and also enable them to guide other students towards a career aligned with their ambitions.”