A chemical engineering student at IIT Roorkee, Alok Katiyar saw a number of batchmates refreshing their GK making use of an app – the similar one he had generated as a leisure pursuit.
While doing his engineering, Alok generated application programs as a pastime, and in the year 2014, the one on general knowledge turned viral and hit 5,000 downloads mark in just 7 days of going live.
What got Alok, and co-founders Sanjay Jagarwal and Vishal Meena ideated was that while entrance examinations for administrative jobs had gone online, the coaching still remained offline.
“I noticed that there was a dearth of online coaching and practices for students giving government exams, while the offline coaching centers lacked IT infrastructure,” said Alok.
Started in the year 2015, MadGuy Labs is a web educational podium, which brings coaching institutes as well as pupils together.
At this time, the MadGuy app is only accessible on the Android and the application boasts of around 20 lakh active users.
The key feature of the MadGuy Labs platform is its local content.
“Looking at the success in the English language, we started feeling the need to have regional content. Hence, we partnered with various people to provide us content in other languages,” added Alok.
Presently, it boasts of applications in 3 languages including Hindi, Marathi, Kannada, and English.
Alok said that MadGuy Labs made a profit from ads, the payment from web classes, plus subscriptions from pupils.
MadGuy Labs claims to have produced Rs 1 crore in income since its beginning.
MadGuy Labs offers Content Management System (CMS) to coaching centers through which they can switch their offline content into the web format. In this way, pupils can easily download the content or study on the web, and can also give examinations in an offline manner as well.
Market professionals witness the Indian education zone to hit $180 billion by the year 2020, propped up by the quick growth of digital learning, and MadGuy Labs is eyeing to take the advantage.
While talking on its growth proposals, the company wishes to perk up the superiority of courses on the application program and augment user interaction. The creators also wish to begin coaching for IIT JEE and other entrance examinations on the app.
MadGuy Labs also generates education content with its internal professionals and is looking to augment this special offering.
“We are developing an algorithm for coaching rating system which will help students find the right coaching institute and rate them. Along with it, various other features like the challenge feature similar to Quizup are also in the pipeline,” said Alok.
At the moment, MadGuy Labs has 16 staff members and also joined hands with more than 25 coaching institutes.