One in every five fundings in India is in the edtech sector that is pegged at over $100 billion. Indeed, the sector is fast growing and so are the chances of unicorns
REMEMBER THAT ad by a telecom company featuring a grumpy dad and his nervous son working in a bakery? Even as the dad thinks his son is a no good bumpkin, the kid manages to “invent” a drone that wins global recognition and awards. How did the kid manage the feat without going to school or college? Well, he used his mobile phone and the Internet to chase and discover new frontiers of e-learning.
This humongous scope and magic of edtech is attracting a generation of brave new entrepreneurs. Just look at some numbers. More than 250 million school students that comprise what is popularly called the K-12 market. More than 5 million students appearing for “competitive” exams every year; many willing to spend lakhs on coaching classes and institutes. More than 10 million young Indians entering the workforce every year who desperately need 21st century skills. More than 750 million smartphone and Internet users by 2020. To top it all, surging aspirations are breaking down shackles of limited livelihood opportunities.
No wonder, it is estimated that the edtech market will double in size from $20 billion at the moment to $40 billion by the end of 2017. When this kind of opportunity beckons, can investors, entrepreneurs and dreamers possibly stay away? “The advent of new age and progressive, live and interactive learning empowers anytime, anywhere learning. Direct-to-device technology is enabling a social collaborative learning experience by recreating classroom-like interactions in the virtual world,” says Aditya Malik, chief executive officer and managing director of ed-tech firm Talentedge.
This story is from the September 5, 2016 edition of Businessworld.
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This story is from the September 5, 2016 edition of Businessworld.
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