This column is by Aakanksha Aggarwal, Founder, Craft Driven Market Research
There has been an uproar regarding the significant changes taking place in Edu-tech sector. Education industry has moved from traditional blackboard style to highly advanced internet based industry. In the last five years, there are tremendous changes that have been observed by the industry.
The Indian system of education started observing changes when the Educomp smart classes were introduced. It took no time for the startup to build an empire by having reach to all the government and private schools in the country. All the schools considered it to be a matter of status symbol to have an Educomp smart class in their premises. Over the years sector saw even more influx of technological advancements coming up in the Edu-tech industry.
Can Edu-tech Startups Succeed in Making a Difference?
Since 2014, there have been more than 500 startups that have opened up in this segment and have provided different technologies.
Some of the edu-tech startups are there in the field of e-learning such as Simplilearn, CueMath and Grey Campus, others in the School ERP system development; professional learning such as Upgrad; learning management such as Smartivity etc. These companies have been funded and are working towards improving their respective segments.
With the investment they have received, these startups have an aim to improve the Indian education system with technology and they have by far been very successful in this. Yesterday, I was teaching my neighbour’s 6 year old son, and I could not expect him to do mathematical summations. However, I was surprised when he did that with ease and that too using a great logical sense. Later I got to know from his parents about him using online videos to learn this. This really appeared to me as an appreciation to the whole startup system that has been initiated in the field of education.
Players in Action
There are certain startups which have been the eye candy of all those involved in education industry. Firms such as Vedantu, CareerGuide, Edukart and WizIQ have impacted lives of millions of students. They are making a social impact on the youth of India by connecting them to the technology and giving them services which they never ever thought of before. These startups are changing the way students used to study before. These are now able to provide online tutoring while sitting at home, career counselling from an expert career counsellor just through a single click, courses for appearing in competitive exams and making it possible the existence of virtual classrooms.
Furthermore, there are many upcoming startups in the country which have not yet received funding but are show great promises for the future. A few of such startups include Delhi based Career Clinic, which provides professional career guidance to the students; Get Buddy which is aimed at providing technical training to all the students; Corselo which acts like an Airbnb for offline learning courses; GraduateGuru; Knowlphin and many more.
These startups despite challenges such as lack of proper internet infrastructure are attracting India’s youth by giving them maximum exposure to learning opportunities by using Edu-tech services.
Market Study Revelations
A study by Craft Driven Market Research reveals that there will be a rise in number of Edu-tech startups in the country since there are many gaps still prevailing in the industry. New startups will definitely fill those gaps and support in building the education system of the country. The time is near when every student of the country will be e-literate and able to respond to the technological advancements. The study worked on developing a relation between the presence of digital literacy centres in the country and the presence of Edu-tech startup. To the surprise, even after spending hefty amounts on digital literacy, some of the states such as Madhya Pradesh, Bihar and North Eastern states have very little or no presence of Edu-tech startups.
This can however, be assumed as an opportunity for the Edu-tech startups. There is huge demand of technology in education industry and still there are many areas in the country which are beyond the access of advancements in education sector. This brings in the role of these startups to connect the whole country into the thread of technology and enrich the learning experience for the students. Few start-ups in the Edu-tech startup industry have already started planning the expansion to unreached areas. Startups are now collaborating with various NGOs to reach students that are in remote areas and have no access to internet. However, it is still a challenge, for startups to connect the whole country with their services.
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