Scholars Merit Gets Into Diversification Mode

The company is in discussions with several state and central government bodies, educational institutions, and industry councils to collaborate on long-term employability initiatives -- Sumit Shukla, founder and CEO, Scholars Merit

Mumbai: When Sumit Shuklahad founded Scholars Merit in 2016, it was more of a side project than a full-fledged business venture. The vision from the beginning was to address the mismatch between academic education and real-world employability.

In 2022, Sumit realized the potential of the idea and the importance of creating a more defined approach.

By 2024, Scholars Merit had evolved into his core business focus, which meant stepping away from other ongoing commitments and placing all his professional focus on making the firm a national player in the employability and skills development sector.

The initial seed funding came entirely from personal savings and the profits generated through his previous ventures.

The total seed investment was over Rs1 crore. This funding covered essential aspects of building a foundational business: recruiting a small yet talented team, developing its initial curriculum modules, setting up basic tech and operational infrastructure, and funding initial branding and marketing campaigns.

When Scholars Merit first started operations, it had a small, but capable team of about 12 individuals. It collaborates with over 100 industry experts who contribute on a flexible, on-demand basis. At present, the company has crossed an annual turnover of over Rs2.5 crore. This milestone reflects the success of our training programs, corporate collaborations, and our growing presence in the employability and skills development space.

The company is also working towards expanding our offerings into industries beyond IT. Sectors like healthcare, logistics, fintech, and digital marketing are showing increasing demand for skilled professionals, and we aim to meet that demand through tailored programs.

Moreover, the company is in discussions with several state and central government bodies, educational institutions, and industry councils to collaborate on long-term employability initiatives.

Talking to Bizz Buzz about his success mantra, Sumit says: “Education must be aligned with employability.” This belief is at the heart of everything we do at Scholars Merit.”