Foxmula Startup - India’s First in - demand Up-Skilling Provider

Foxmula is a Bangalore based Ed-tech platform that provides in demand up-skilling program for students, graduates, and working professional with a job guarantee. The startup was started in Rs. 50000 and clocked revenue of 1 crore last year.

By Anil Diggiwal Jul 2 2021 12:25PM 3007 Read
Foxmula Startup : Creating a Revolution in the Skilled Job Market

Foxmula is developing a community-driven ecosystem that offers industry-focused training, global certifications, industrial internships, life-long networking, and job opportunities to students for exposure. Foxmula offers programs in Machine Learning with Python, Data Science with R, Deep Learning with Tensor Flow, Cloud Computing, Security Fundamentals, Web Development with node.js, and Advanced Web Development with 'react.js' in keeping with its founding goal of providing training to college students in the most in-demand and growing domains of the industry.

Note : Foxmula has partnered with multiple multinational corporations such as Microsoft, SAP, AWS, and IBM for better services.

Foxmula Startup – Key Stats

Startup NameFoxmula
HeadquarterBengaluru, India
FoundersAyush Bansal, Shubham Sharda
Parent OrganizationInversion Consultancy LLP

Foxmula Startup – Beginning of Idea

Ayush and Shubham, co-founders of Foxmula, were significantly inspired by mentors who responded to specific learning requirements and addressed their curiosity even during their early years. In addition, because of the teacher's unique teaching methods, they were more enthusiastic about certain subjects than others. That was the deciding factor.

Foxmula Startup – Founders Shubham & Ayush Bansal

Shubham Sharda and Ayush Bansal are founders of Foxmula. They are classmates from Ramaiah Institute of Technology (MSRIT). They both finished their engineering in information technology and came up with the idea for Foxmula in their Third year. They came up with the concept jointly and meticulously considered every detail to create the ideal platform.

Foxmula Ayush Bansal and Shubham Sharda, co-founders of Foxmula
In Founder's Own Words :
"On a very early stage of life, we realized the requirement for making a move when things don't seem to be as per expectations. Our first venture, Inversion Consultancy (which is dedicated to providing all business backend assistance to clients, under a roof), made us realize that the biggest problem for organizations is the lack of skills and desirable talents among the youth. This is where Foxmula came into existence."

Foxmula Startup - Services Offered

Foxmula offers services for Students & Educational Institutes & is designed to make it easier to discover new areas for them.

  • Services for Students Through its Essential and Intensive Profile Building Programmes, Foxmula provides industry-oriented skills, worldwide certifications, events for intellectual growth, and exposure via industrial internships. It also provides Guaranteed Job programs with a pay-after-placement approach for students. It's further divided into Formula X and Formula Y –
    • Formula X – Guaranteed 4.5 LPA Job with No Upfront Fees The curriculum includes industry-standard examinations and exams, professional coaching from industry leaders and domain experts, resume writing and mock interview preparation, accent neutralization, personality development courses, and guaranteed job placement for 4.5 LPA at no cost upfront.
    • Formula Y – Internship Certificates & Student Training This program is designed for students who wish to master cutting-edge technology areas and pursue a rewarding career in new technologies. Its main goal is to build the students profile. Foxmula Y enables students to acquire and achieve globally recognized certifications from prominent IT companies such as Microsoft, SAP, AWS, IBM, and MSMEs, to mention a few.
  • Services for Educational Institutes Data Science, Cloud Computing, Web Development, Financial Modeling, Digital Marketing, and other cutting-edge are all covered by these three-tier programs.
    Foxmula for Enterprises offers a win-win scenario for job seekers (through guaranteed job programs) and employers (via talent acquisition programs) by providing a variety of services.
Note : TecLabs, hosted by Tecnologico de Monterrey, Mexico, named Foxmula Startup one of the top 100 startups in Turkey and one of the top 9 Ed-tech firms.

Foxmula – Brand Name & Tagline

  • Name : The founders spent sleepless nights to develop a unique yet memorable name for their startup that would appeal to the company's core target audience of young graduate learners while also bringing the brand's voice to life.
  • Tagline : "The Smart Way"

Foxmula Startup - Revenue Model

  • 17% Commissions – Foxmula X program's business strategy is commission-based. Once a student is placed after completing the Foxmula X program, it charges 17% of their annual salary. The curriculum for Foxmula Y is priced between INR 20,000 and INR 35,000, depending on the course material offered.
  • Flat Charge: The firm charges between INR 20,000 and INR 35 000 for Foxmula Y program, which includes 80-90 hours of rigorous live sessions and instruction from professional industry mentors. Internships with international companies are also part of this curriculum.
Note : In less than a year, Foxmula, bootstrapped with an initial investment of INR 50,000, has generated more than INR 1 crore in sales.

Foxmula Startup – Business Model

Foxmula is also expanding its program to train resources in the B2B sector, as re-skilling has become critical for B2B firms' resource optimization. The revenue is split into two categories.

The company spends 60% of its profit on trainer and employee wages, while the remaining 40% is set aside for research and development and business growth.

Fun Fact : Foxmula is a bootstrapped startup started with an initial investment of INR 50,000 by owners.

Foxmula Startup – Future Plan & Programs

  • Foxmula Z : The firm plans to launch Foxmula Z Program, based on onboard product-based businesses that will up-skill the workforce and recast their jobs. Its goal would be to train and improve current employee strength so that they are prepared for advanced work responsibilities and have new-age abilities to meet technological advancement demands.
  • New Way Teaching : It also intends to unveil a new teaching approach soon, which would decrease the need for rote learning, which is prevalent in India's educational system. This will be an exclusive, one-of-a-kind product, and Foxmula will seek a patent as soon as it is completed.

Foxmula Startup - Revolutionizing Indian Skill Market

So, this was all about Foxmula startup and their business model. The startup has also partnered with five foreign institutions to provide subject-matter expertise to students enrolled in the Foxmula Y program. The firm now employs 45 workers and clocked annual revenue of 1 Crore in 2020.

Anil Diggiwal
Anil Diggiwal View More Posts

Anil Diggiwal is the Chief Editor for DigitalYug. He is particularly interested in business, in addition to international, online tale, quirky, and regional movies. Active in journalism for about a decade and a half, as well as a successful entrepreneur
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