Sunstone Eduversity, which provides MBA/PGDM programmes in partnership with universities and colleges, is looking to expand its reach by entering into newer cities and partnering with more colleges. The B-school, which provides ‘pay after placement’ facility to its students, currently has tie-ups with eight campuses spread across seven cities. Plans are afoot to add six more campuses and foray into three more cities, including Kolkata and Hyderabad, in 2021.
According to Piyush Nangru, Co-founder of Sunstone Eduversity, there has been a steady rise in the number of students enrolling under their MBA programmes.
Founded in 2015 by Ashish Munjal and Piyush Nangru, Sunstone works on an asset-light model, partnering with UGC/AICTE approved colleges and universities to provide industry-relevant and futuristic education leveraging technology. It ties up with campuses for their physical infrastructure, and the remaining part, including admissions, academic curriculum, and training of faculty members is taken care of by them.
‘Result-oriented education’
"There are a number of MBA colleges that welcome our commitment to results-oriented education. They partner with us as we take responsibility for everything starting from admissions, training of faculty, preparing the academic curriculum. With our skin in the game we ensure that the course is both relevant and updated and students get placed properly. This is a win-win for everyone," Nangru told BusinessLine On Campus .
The institute, which had close to 300 students in 2019, is looking to add 2,500 students in 2021. It is looking to graduate 10,000 students by 2023.
Business model
Sunstone Eduversity claims to be the first management programme in the country to implement an outcome-based fee rather than an admission-based fee and charges only after the student gets placed. The company has been closely working with corporates to develop industry-ready specialisations in segments such as BFSI, logistics, analytics, sales management, and digital marketing.
The candidates who wish to enrol for their programmes have to pay around ₹1.25 lakh as an upfront fee and once they get placed they would be required to pay ten times of their monthly salary as their course fee. This would still be lower than the average fees of an MBA programme from a standard B-school, he said.
It has already reported 70 per cent job placements for its final year students of 2019-21 batch of MBA, with the remaining 30 per cent currently underway