Edtech Startup MySkill Announces Initial Funding from East Ventures

Startups EdTech MySkill has announced that it has secured seed funding from East Ventures with undisclosed value. Established since mid-2021, the platform that was developed wants to help young people prepare for a career path through independent, interactive, and private learning products.

It is claimed that MySkill currently has around 700 thousand users. As for the services that are peddled include Private Mentoring, Interactive Bootcamp, and On-Demand E-Learning Videos. The content presented is also diverse, ranging from making technical career preparations, digital marketing, product management, to programming.

"This funding will accelerate our mission to support job seekers in Indonesia to reach their dream careers. MySkills comes with innovative solutions that ensure better learning outcomes, which will create a domino effect in generating better social and economic impact in Indonesia,” said MySkill Co-Founder & CEO Angga Fauzan.

Apart from Angga, this startup was also founded by Erahmat (Co-Founder & Chief Business Officer). Second co-founder This is aware of the huge skills gap between the academic world and the skills needed in the world of work, which makes it difficult for many people to find decent work.

In Indonesia, there are already several similar services, for example, provided Binary Academy, ToMu by ProSpark, Kuncie, Skill Academy, Skilled, and so on. Even players like Binar or Hacktiv8 has a special partnership with the company to bridge its graduates to have a greater chance of getting a job.

Labor absorption problems

Employment is still a fundamental issue in Indonesia. On the side supplyThe number of existing workforce is very abundant because every year there are thousands to millions of graduates produced by vocational schools or colleges. Likewise with demand of industry, the number is quite large every year. But in fact, many industry players find it difficult to find qualified talent.

In vitro and animal studies JP Morgan and Singapore Management University found that one of the causes of the low number of qualified workers in Indonesia is the gap between the academic world and industry. The situation is exacerbated by the pandemic which has affected more than 29 million workers in Indonesia, according to data Central Bureau of Statistics (BPS).

From these problems, many parties seek to have match making between university graduates and industry needs. One of them is like what startups do EdTech such as MySkill by providing training with curriculum and mentors presented directly from an industry perspective.

"Given the huge gap that Indonesia's workforce is currently facing, we believe MySkill can bring more growth and impact to the workforce industry in Indonesia," said East Ventures Principal Devina Halim.