The Government of Andhra Pradesh (GoAP) and edtech major Physics Wallah (PW), have signed a Memorandum of Understanding (MoU) to establish the University of Innovation (UoI).
The University of Innovation will work towards blending academic excellence, innovation and research. Its focus is to address key challenges in education and employability.
Hub-and-spoke model
The initiative will follow a hub-and-spoke model, with the university serving as the central hub and satellite centres across Andhra Pradesh acting as spokes. This approach is an attempt to provide students from diverse backgrounds and regions access to contemporary, hybrid education that combines online and in-person learning experiences.
Alakh Pandey, Founder & CEO, PW said, “We are committed to invest up to ₹1,000 crore by GSV Ventures – US and other investors, the purpose is to create an institution that combines academic learning with industry relevance. The UoI will help learners with the skills they might need in a constantly evolving job market, in an attempt to foster entrepreneurship and innovation.”
The university will also attempt to leverage technology, including AI-driven tools and adaptive learning platforms, to ensure personalised learning experiences for all students. PW is also collaborating with industry partners like Amazon Web Services (AWS) India to provide industry relevant education.
Founded in 2020 by Pandey and Prateek Maheshwari, Physics Wallah currently operates offline and hybrid centres in more than 105 cities in India. It also claims to offer free education to over 4.6 crore students through its 112 YouTube channels in five vernacular languages.
The edtech start-up has now set its eyes on listing on the stock exchanges next year. It recently raised $210 million in its Series B round led by Hornbill Capital at a post-money valuation of $2.8 bn.
