'Building Block For More Startups': Vivek Oberoi Reflects On Experience As University Co-Founder

The university initiative in Gujarat was designed to de-risk student entrepreneurship without forcing a trade-off with formal education, Vivek Oberoi explained.

Bollywood star and entrepreneur Vivek Oberoi. (Photo: NDTV Profit)

Bollywood star and entrepreneur Vivek Oberoi has opened up about his journey as an investor and co-founder in the educational sector, while speaking at the NDTV Profit 'Ignite' conclave in Mumbai on Friday.

The varsity, named as Swarnim University of Startup and Innovation, was launched in 2012 in Gujarat. Presently, it has campuses in Gandhinagar and Ahmedabad.

Speaking about his focus on the educational and startup sector, Oberoi said he "found a niche everywhere," starting with the university initiative in Gujarat designed to de-risk student entrepreneurship without forcing a trade-off with formal education.

"I set up a startup and innovation university in Gujarat… the first university that had a dual degree where you could do a traditional degree and a startup at the same time," he said, adding that the approach addressed a familiar tension: students’ FOMO to build startups versus parents insisting that they "shut up and finish engineering."

Also Read: 'Silver Is Poor Man's Gold': Nilesh Shah Lists Saudi Bank Purchases Among Key Factors Driving The Surge

According to Oberoi, Swarnim University now has a resident capacity of about 5,500 students, and became a "building block" for spawning more startups.

Oberoi said he has turned focus to bridge the affordability gap in higher education, as "kids want to go to a great college but can’t afford paying one-shot fees."

His solution: tech-led P2P financing tailored for tuition, with instant credit assessment algorithms and structures attractive to lenders. The model, he said, aimed to "create a good IRR for NBFCs, create an arbitrage for my tech company, and finance those students without a guarantor."

Oberoi claimed the platform built an "army of almost 14 lakh students" accessing funding, while acting as a bridge between the priority sector lending (PSL) requirements of banks and the return expectations of NBFCs. "We built a track record and then flipped it to priority sector lending from banks," he said.

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google