Diversified Hero Group on Tuesday launched a new education technology venture, Hero Vired, with the promoter Munjal family committing over USD 10 million (around Rs 75 crore) to offer learners overall professional development to make them industry-ready for employment.

Hero Vired said it has partnered with top global universities, including Massachusetts Institute of Technology (MIT) and Singularity University, to offer full-time and part-time programs in finance and financial technologies; game design; integrated programs in data science, machine learning (ML) and artificial intelligence (AI); entrepreneurial thinking and innovation; and full-stack development.

Commenting on the new venture, Hero Vired Founder and CEO Akshay Munjal said it has been aimed at addressing the problem of employability in India and the skill gaps that exist in the industry at present.

"We have got a very large young population, which is definitely looking for jobs, currently either unemployed or not meaningfully employed. On the other hand, we have an industry that is starved for talent. What we are attempting to do is how do we solve this problem from where it originates from," Munjal told PTI.

When asked about investments in the new venture, he said, "the family has already committed upwards of USD 10 million only on this venture, which is a substantial sum. That gives us the flexibility of building focus on quality."

Munjal said Hero Vired will target three segments of students -- those who passed class XII and seeking a quality education; fresh college graduates who are unable to get meaningful jobs; and working professionals with 0-10 years of experience, who are looking to upskill to enhance career growth.

The EdTech startup will offer two programmes -- a six months full-time programme followed by three to four months of internship and a part-time programme of over 11 months, with classes over weekends.

"Fee ranges from Rs 2.5 lakh to Rs 5 lakh depending on the programme," Munjal said adding the first session will begin in July this year for two programmes and others to be added gradually with the number of students capped at 100 students per batch per programme.

Initially, the programmes will be offered online but once COVID-19 settles, there will be hybrid options also, he said adding select programs will offer an academic bank of credits as proposed in the National Education Policy for learners to access future learning.