Rajat Soni has a rich and diversified experience across various industries including chemicals, banking, IT, and advertising. He started Eduledge to bring fun and effectiveness to the process of learning. The process of learning and skill enhancement has always been an area of concern for the HR department.
He has also authored a book: “The Little Guide to Equity Mutual Funds”, which has gained momentum globally and is a testimony of his experience as an investor and private banker.
Rajat is an active speaker who has encouraged young budding entrepreneurs at various Entrepreneurship events and meets. His active interests in theatre and other creative pursuits combined with his knowledge and experience in the corporate world have enabled him to pursue his passion-Eduledge Solutions.
We had an email interaction with him about his venture Eduledge.
Genesis of your startup—how you started? Tell about the team also
Eduledge Solutions started in September 2009 with the intention of making learning fun and effective. I observed how employees merely read through e-learning modules as a mandate provided by the organization and did not learn much from them. Although the e learning courses utilized flash technology, but level of interactivity and creativity was minimal to keep the employees engaged. Eduledge was conceived from the idea of filling this gap. We use various creative elements at each level of developing e learning courses. Also, our courses are highly customized and the end product is an effective medium that communicates the company’s policies, products, services, etc. to its key stakeholders. We also provide our customers with a learning management platform by the name of Eruditio.
Challenges faced in the start-up phase?
The biggest challenge was educating the customer about how significant e learning is for their organization and what benefits we offer to overcome the same. In certain organizations, expenditures of training and development are of the lowest priority. So, to bring that higher on the list was a challenge.
Business and revenue model of your idea?
Eduledge Solutions, not only designs and develop e learning modules but also provides a learning management platform by the name of Eruditio that enables organizations to manage their overall learning and development functions online. It lets users learn through a variety of means including collaboration, assessments and certifications, thereby enriching the entire experience for everyone. The learning management platform is sold on a license basis while customized e learning programs are charged to the client only once.
How you keep abreast with the competitors?
What keeps us abreast is to continuously challenge ourselves to deliver a product/service of quality and exhibit reliability in each interaction and transaction with the client. Also, positive feedback from our customers adds value to our image in the market.
What is the role of innovation?
Innovation is the key to our business. From case studies, to simulations to instruction designing, to delivery of product to our first interaction with the client; each element encompasses innovation. We have young team members who are always coming up with new ideas and brainstorming to develop a product exceeding the expectations of clients. We work much like an advertising agency in terms of creativity and innovation.
What was your first big success?
Our first big success was our first client who imbibed trust in us and later appreciated our work and also recommended us to another company. This also set forth our future clients to whom we had a good body of work to showcase. Some of our clients are Schneider Electric, ICICI Bank, etc.
Success as an entrepreneur was also cherished when the book I authored “The Little Guide to Equity Mutual Funds” made its debut at the Delhi Bok fair and is now selling globally. Also, sharing my entrepreneurial experiences with delegates at conferences and events as a speaker has been very fulfilling.
What for future?
Eduledge Solutions will shortly be expanding its product range to encompass many more subjects across management skills and other innovative areas.