Today is a significant day for e-learning community-the integration of Simformer.com and MOOC ApnaCourse, the Indian equivalent of Lynda.com, has been finalized. Apna has become the first major education platform integrating modern educational and training products that are based on Simformer Business Simulation.
Founded in 2013, ApnaCourse platform provides access to educational content to thousands of people around the world. After only one year on the market, the company was named the best startup in the Indian Silicon Valley. The courses on ApnaCourse offer certificates CFA, FRM, CFP in finance, PMI-ACP, PMP in the field of quality management and project management, ISTQB, CISA, CISM in the field of IT services and security, etc.
Simformer, an education side project of a popular Russian-based game Virtonomics, was created in the same year as ApnaCourse. The key direction of Simformer’s activity is to develop a unique educational online platform based on business simulation for practice-oriented learning. The range of Simformer possible solutions is wide: corporate training programs, university courses and seminars, individual training. The basis of the platform is an economic multiplayer online game Virtonomics, which was launched in 2006. These days Victonomics is the most powerful, fully-featured multi-user and realistic business simulation in the world, according to the experts of the international consulting company Accenture and British Gamification Nation. The game has about 1.5 million registered users worldwide, half of them Russian users, the second half –users from English and Spanish-speaking countries.
Mr. Sergei Menshchikov, the founder and CEO of Simformer said: "Our main priority are European and American markets, as well as Asian countries, which are interested in education with English as the language of instruction. Collaborating with Apna is an important step towards this direction for us. In the future, we plan to integrate Simformer with all major educational platforms in order to create and introduce a fundamentally new class of educational and training products to mass market.”
India is the fastest growing online market in the world. Nowadays there is a huge number of Internet users India (240 million), which according to the experts, is expected to reach 700 million people in a few years. Domestic economic trends cause an increase in the demand for educational services. India ranks second in the world in the number of students studying abroad. Only in the United States more than 100,000 Indian students study each year.
India is making significant efforts in developing a stable system of online higher education. The economic situation and the high cost of traditional educational programs create favorable conditions for the country to become the leading player in Asia’s e-learning market.
The total market for online educational products in India is estimated at $ 1.5 billion. According to Ken Research Group, the expected growth rate of CAGR is 17.4% per year. The key components that encourage India’s market growth are government support for e-learning, increasing level of technology integration, the lack of quality education, and the convenience and affordability of online learning. All these aspects can make the project between ApnaCourse and Simformer successful.