Kamal Ghorui
MUMBAI: Seven foreign universities — four of which will begin operations from Mumbai before eventually shifting to the proposed Edu City in Navi Mumbai — have been drawn to the city through a partnership model led by an edtech firm that will hold 49% stake in each venture, with the respective universities retaining the remaining 51%. The total investment is Rs 300 crore.The institutions are Illinois Institute of Technology, the University of Aberdeen, the University of Bristol, the University of Liverpool, the University of New South Wales, the University of Victoria Delhi NCR (Gurgaon campus) and the University of York.The structure reflects the cautious approach many global universities adopt when entering new geographies. “Foreign universities, by temperament and experience, are risk averse,” said Ashwin Damera, cofounder and CEO of Eruditus, the firm partnering with the seven institutions. By sharing ownership with a local partner, they can test the Indian market without assuming the full operational and financial burden of establishing a campus independently.Each campus is expected to begin with around 20 faculty members for 250 students, combining visiting academics from the home campuses with faculty based in India. Provosts for the campuses have already been appointed.For decades, regulatory uncertainty and the complexity of building campuses abroad kept most foreign universities away from India. Experts said, overseas experiments elsewhere have also produced uneven results. Campuses set up in countries such as China, Vietnam, Qatar and the UAE have seen varied outcomes.“The regulation really didn’t allow universities to set up earlier,” Damera said. “Some people say a really good university will not come when there is uncertainty. Of course.”What has changed now, he said, is the structure of entry. Under the current model, Eruditus holds up to 49% stake in each venture while the foreign university retains majority ownership and academic control.
