EdTech unicorn PhysicsWallah has launched the ‘PW School of Startups’ (PW SOS) and established an INR 100 crore ($11.9 million) fund to support over 100 startups. This initiative is designed to provide a comprehensive platform for entrepreneurs, offering cost-effective ideation programs, practical training, mentorship, and capital raising opportunities.
The PW SOS will feature three distinct programs tailored to various stages of the entrepreneurial journey:
Aarambh: A 5-day offline program aimed at school and college students, as well as early professionals, providing access to resources, networks, and expert advice.
Prarambh: An extensive 5-month offline program for college students, early professionals, small family business owners, and second-generation entrepreneurs.
Hopes Alive: A free 5-month hybrid program for seed-funded or bootstrapped startups from across India and other sectors.
Founded by Alakh Pandey and Prateek Maheshwari in 2020, PhysicsWallah entered the unicorn club in 2022 after securing $100 million in its first funding round from Westbridge and GSV Ventures. Since then, the company has expanded into offline education and acquired multiple startups.
PhysicsWallah provides live courses for JEE and NEET preparation, as well as offerings across Gurukulam Schools, test preparation, skilling, higher education, and study abroad programs. The company competes with major players such as BYJU’S, Vedantu, Unacademy, and Allen.
Pandey expressed his belief in the significant potential of startups from Tier 2 and Tier 3 cities, noting that these entrepreneurs often face challenges due to a lack of guidance and support.
This announcement follows Pandey’s recent public interest litigation (PIL) before the Supreme Court, seeking a probe into allegations regarding discrepancies in the NEET-UG 2024 exam.
The Indian edtech sector, currently facing a funding crunch and waning investor interest post-pandemic, continues to struggle with high cash burn rates, mounting losses, and governance issues. Despite these challenges, the Indian edtech market is projected to grow to $29 billion by 2030, according to an Inc42 report.
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