Learning is an endless cycle, and innovation is an essential aspect of our reality today, so Education Technology or EdTech has an immense extent of development and research. Ed-Tech startups in India have been in the news for different reasons. Because of the lockdown, they’ve had an excellent time to sparkle. Today, India’s EdTech industry is the second-largest globally, and it is just climbing the height of success. It is one of the areas that has seen rapid development in the pandemic. During the lockdown, schools, and coaching needed to rely upon the internet to keep education flow. We’ve lately observed a significant movement in the EdTech world. Practically all Ed-Tech startups have seen a massive inflow of traffic. BYJU’S surveyed 7.5 new customers, and Unacademy recorded an increase in their watch time to 1.4 billion minutes. Furthermore, Ed-Tech startups are recruiting more and are putting more into their development.
The Indian Ed-tech startups recorded financing of $433 Mn in 2019, taking the overall funds raised by the startups to $1.8 Bn, uncovers DataLabs’ latest released “The Future of India’s $2 Bn EdTech Opportunity” report.
Considering that the pandemic has brought much momentum for EdTech adoption in India, the market size of Ed-Tech startups is assessed to become 3.7x in the following five years in India, from $2.8 Bn (2020) to $10.4 Bn (2025).
How Ed-tech Startups changed the Game
The right to get free education to the age of 14 is a fundamental right in Article 21A of the Indian constitution. What changed the game was the initiation of the Right to Education (RTE) initiation through the 86th constitutional amendment in 2002. From that point, the nation’s adult literacy rate had hopped up by 13% from 61% in 2001 to 74% in 2018, where Ed-tech startups played an important role.
The void in the quality of education delivered in private schools and the public schools is expanding each year, according to the Annual Status of Education Report (ASER). As per the report, just 23% of fifth-grade students solve a simple division problem in government schools, while this number was 40% in more fancy private schools. The presentation of RTE has helped somewhat a small segment of the populace look for private schooling.
Indeed, even inside private schools, digital education was limited to smartboards in classrooms before ten years until the SaaS or B2B sector came up. After 2010-11, Ed-tech startups, for example, BYJU’S, Toppr, Meritnation, Simplilearn, among others in India, have changed how education was seen in India. Learning is not merely restricted to classrooms. Ed-tech startups offer a free and open the door to knowledge, and the transparency is likewise higher.
The usage of vernacular languages by Ed-tech startups is another cause behind the ed-tech sector’s rising trend. According to experts, five significant ways that Ed-tech is changing how technology is aiding education are as follows.
- Personalized learning
- Efficient formative assessment
- Interactive learning
- The shift in traditional classroom roles
- On-demand learning
So, What’s next?
These are concepts in the conceptual or beginning phase with a couple of suitable products/services and least market adoption. These trends are either attracting media or investors’ consideration with a ton of Poof of ideas in motion. We all are thrilled about all that occurs in this area and transforming the face of Ed-tech startups as this is the place genuine development occurs.
Artificial intelligence in Ed-tech startups is getting along pleasantly in India with organizations like CarveNiche Technologies, eDreams Edusoft, Funtoot, and Genius Corner Educom (likewise Leverage Edu) are working diligently concocting AI/ML-based customized instruction for students and experts.
AR/VR is another hot topic that is gradually observing an increase in momentum. Ed-tech startups like SkillVeri, iAugmentor, PAL Genie Technologies, and Simulanis have running products and facilities to help make a vivid and intelligent learning experience. AR/VR should increase a significant foothold later on as the wearable tech develops. The utilization cases are eternal, as are the chances — We are too excited about this.
Classroom Tech is fundamentally utilizing tech to upgrade the learning experience. Organizations like SRJNA and Experifun Learning Solutions have thought of crossbreed (Real and Virtual) tools and tech to improve the learning involved in classrooms, including a customized touch. We will Ed-tech startups going after this space with more novel arrangements soon.
In any case, at long last, we should remember that innovation is only a device to improve performance—a list of some Ed-tech startups that are required to have the most significant effect on the market. The list has WhiteHat Jr, Playshifu, Lido Learning, Pesto, Kings Learning, Cuemath, Class plus.
Devoted and fun teachers can’t be supplanted by AI or any innovation that is concerned. Simultaneously, learning can be made more interactive, inventive, drawing in, and fascinating for students with the correct innovation utilization. As Ed-tech startups are advancing and upgraded, the newer generation must understand that longer screen time won’t ensure better learning. It has to be backed up with enthusiasm and passion for learning among students.