DEV Dev Clever Holdings Plc

TIDMDEV

RNS Number : 3062P

Dev Clever Holdings PLC

18 October 2021

18 October 2021

Dev Clever Holdings plc

("Dev Clever", the "Company" or the "Group")

Material Extension of Agreement with the CSC Academy in India

-CSC Academy-backed roll out to 2.6 million students across all 5,930 CSC Academy Centres-

Dev Clever, a leading developer of online and immersive career guidance and development platforms, is pleased to announce that its wholly-owned Indian subsidiary and Veative Labs Pvt Ltd ("Veative") have agreed a material extension to their partnership with the CSC Academy in India ("CSC Academy").

This follows the pilot announced on 29 June 2021, when the Company stated that its immersive learning and careers platform would go live in 25 of the c. 5,930 CSC academy centres and it would assess the foundation programme of STEM-based immersive learning and careers guidance. Following the successful completion of this pilot, the CSC Academy and Dev Clever have agreed a foundation programme for phase two - with Dev Clever's proprietary immersive career guidance and learning platform to be rolled out to all CSC academy centres across India. As a result, in phase two the foundation programme will be offered to 2.6 million students and will begin to be rolled out in Q1 2022. During this phase, Dev Clever will receive a one-off on-boarding fee and an annual SaaS-based subscription fee for each student, to be paid directly by the CSC Academy on behalf of the student.

In addition to the foundation programme, students will be given the opportunity to upgrade the service to a premium subscription and access additional learning content as well as live one-to-one career counselling sessions, delivered virtually through the launchmycareer.com platform. Dev Clever has agreed to work with the CSC Academy to offer students a Launchmycareer ("LMC") Careers counsellor training programme that will provide a recognised qualification and, in anticipation of the demand for this premium subscription service, Dev Clever has already started onboarding career consultants.

It is the express intention that, subject to success during phase two, there will be a further opportunity to formalise the expansion of launchmycareer.com beyond the CSC academies to the broader 350,000 CSC centres and its tens of millions of users.

Chris Jefferies, CEO Dev Clever, said:

"The Indian Government's recognition of the importance of career development for its young people is a pivotal moment in its intention to bring positive and lasting educational change to its citizens, and particularly its youth. Our now broader remit is yet another endorsement of our ability to support India with the technological knowhow in bringing about this change. It also has extremely positive implications for Dev Clever with the fees generated during phase two expected to bring material revenues into the Company.

"We are also extremely excited to be working with the CSC and to be able to jointly offer an initial 2.6 million students the opportunity of a recognised qualification in careers counselling that will provide employment for those students seeking a job in this area and also enable them to guide other students towards a career aligned with their ambitions."

-ends-

For further information please contact:

 
 
 Dev Clever Holdings plc 
  Christopher Jeffries 
  Chief Executive Officer and Executive 
  Chairman 
 
  Nicholas Ydlibi 
  Chief Financial Officer                    +44 (0) 1827 930 408 
 
 Novum Securities Limited - Financial 
  Adviser and Broker 
  David Coffman / Colin Rowbury              +44 (0) 20 7399 9400 
 
 Buchanan Communications 
  Richard Oldworth / Chris Lane              +44 (0) 207 466 5105 
 
 
 

Notes to Editors:

About the Common Service Centre Scheme:

The CSC is a national government initiative led by the Indian ministry of Electronics and Information Technology. It is a central part of Digital India, the government's flagship programme which has a vision to transform India into a digitally empowered society and economy. With more than 350,000 centres across India, servicing tens of millions of users, CSCs are recognised as an access point for many digital services, including healthcare and education. Their ability to deliver essential digital services is particularly important for Indian citizens in rural and remote areas.

About Dev Clever

Dev Clever Holdings plc, together with its wholly-owned subsidiaries, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based VR and gamification technologies to deliver rich customer engagement experiences across both the education and commercial sectors. In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange. The Group's core focus is the development and commercialisation of its core platforms - Educate (its primary focus) and Agency Services (its secondary focus).

Educate Division:

Through Educate, Dev Clever aims to reduce the global skills shortage by delivering an enhanced careers guidance service via its online platform, Launchmycareer.com, and virtual reality software (Victar VR). The business has established a global partnership with Lenovo to roll out its service worldwide, with offerings already on the market in the UK, US, and Canada. Dev Clever is also focused on the Indian market and has partnered with its National Independent Schools Alliance (NISA) and content provider Veative to provide a comprehensive service offering within Indian budget private schools. Through this, the business has been developing and has launched a direct-to-consumer offering in India.

Agency Services:

The Company's Agency Services division provides customers from the retail, brand and hospitality sectors with bespoke application and customisation of the Group's proprietary cloud-based products to incentivise consumer participation, increase engagement, improve transactional efficiencies, and enhance the user experience. The wealth of experience gained having successfully provided hundreds of digital consumer and employee incentive experiences for global brands, businesses, and educators via the Company's proprietary platform, Engage, is now focused on enabling employers to better engage with existing employees to up-skill them and to identify their future workforce via the Launchmycareer.com platform. The division is being re-branded to Launchmycareer.com Professional Services.

For further information, please visit www.devcleverholdingsplc.com

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October 18, 2021 02:00 ET (06:00 GMT)

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