upGrad ventures into the Pacific region, sets up Institute of Medical Sciences in Vanuatu
Upskilling platform upGrad announced the establishment of the upGrad Institute of Medical Sciences (UIMS), a fully offline campus located in the Republic of Vanuatu. The initiative aims to attract and train global talent in modern clinical competencies, diverging from the recent trend of education technology companies focusing on online platforms.
The offline institute will play a crucial role in training skilled medical practitioners and fostering talent mobility in the region. To support the launch of the university, upGrad has allocated $10 million in funding. Ronnie Screwvala, co-founder and chairperson of upGrad, emphasized the strategic importance of Vanuatu's proximity to Australia and New Zealand. He stated that this move will strengthen upGrad's presence in the South Pacific region, complementing their existing strong presence in Australia.
The UIMS plans to commence accepting enrollments from the second half of June this year. In addition, upGrad has pledged $50,000 to the Vanuatu Prime Minister's Relief Fund to support healthcare services at the Port Vila Central Hospital in the region.
upGrad's announcement aligns with the recent 12-point development agenda for the Pacific Island Nations unveiled by Indian Prime Minister Narendra Modi. The agenda emphasizes healthcare, renewable energy, and cybersecurity as key areas for development, making upGrad's initiative timely and relevant.
Gaurav Kumar, head of corporate development and M&As at upGrad, highlighted the company's collaboration with the Ministry of Health and the government of Vanuatu to establish the offline educational campus. He mentioned that the goal is to offer a world-class curriculum to the region's natives and promote the internationalization of higher education. Kumar further disclosed that this initiative is part of upGrad's multi-campus strategy, with plans to establish three medical schools in the Pacific region and additional undisclosed locations.
The announcement comes after upGrad recently completed an internal rights issue worth INR 300 crore, a significant achievement given the challenging climate for venture funding in the edtech sector.
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