Edtech major on Tuesday said it is venturing into the Pacific region by setting up a medical institute in the Republic of Vanuatu. To initiate the operations of the completely offline campus, the firm has allocated $10 million.
“Vanuatu is at the centre of the educational revolution, which also makes it a business-ready geography for us,” Ronnie Screwvala, Co-founder and Chairperson of upGrad, said in a statement.
Vanuatu, which has approximately 80 islands, is a country located in the South Pacific Ocean.
Already present in Australia, this expansion into Vanuatu will help fortify upGrad’s footprint in the South Pacific region, given its proximity to Australia and New Zealand, Screwvala added.
upGrad Institute of Medical Sciences (UIMS) in the Republic of Vanuatu aims to attract and nurture global talent, equipping them with contemporary clinical competencies, and shaping the future generation of skilled medical professionals. Enrollment for UIMS is expected to commence in the latter half of June this year.
“This initiative is a part of our multi-campus strategy where we aim to set up at least three medical schools in the Pacific region along with a few more in select geographies,” Gaurav Kumar, Head of Corporate Development and M&As at upGrad, said.
According to the company, upGrad has a presence in 31 offices across India, the USA, the UK, the Middle East, Singapore, and Vietnam.
In March, the edtech major raised Rs 300 crore through an internal rights issue, with participation from existing shareholders and founders.
Founded in 2015 by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, upGrad operates across various educational sectors, encompassing test preparation, study abroad programmes, undergraduate degrees, and courses in collaboration with 250 universities. It offers a range of subjects, including finance, law, business, and software.
