The Ed-tech industry in India is expected to not only expand, but also have a bright future, thanks to rapid internet penetration and online courses that provide low-cost alternatives to traditional classroom learning
For the future of education and EdTech, 2020 has been a year of seismic transition. It has aided in the transition from conventional classroom-based learning to hybrid and, in some cases, full-service digital learning. The trend isn’t just in learning; it’s also in employers’ and companies’ mindsets, and I expect it to continue. It will also introduce innovative product interventions and technology-driven strategies to address newer problems, as well as greater inclusivity in Higher Education. A vision that we at Talentedge share wholeheartedly.
With the outbreak of the pandemic, the education system was severely disrupted. The industry, which had previously relied on physical classrooms, pen and paper, has unexpectedly and fully shifted to the online realm. Learners turned to their laptop screens and smartphones for their schooling, as EdTech has become indispensable.
Following that, many EdTech companies raced to meet the demand-supply economics. As a consequence, scalability has become a key indicator of how well an EdTech firm operates. The performance motto, consumer acquisition, and export opportunities are among the most important questions that EdTechs must address.
Along with technological advancements, there has been a change in mentality and culture. The traditional approach, particularly in Asian countries, was to view education as a one-time required stepping stone to entering the workforce. Upskilling and reskilling are now widely recognised as important in almost every country and at almost every point of our careers. The Government of India granted full recognition to Online Degrees in 2020 through the National Education Policy (NEP2020), allowing the NIRF top 100 universities in India to launch Online Degree programmes in select domains. This initiative would have a huge effect because it promotes inclusivity in higher education.
With the increased demand came the realisation that a hybrid schooling approach could benefit K-12 classes well after the pandemic was over. Teachers can spend more time personally interacting with students by using interactive services. According to a McKinsey & Company report, educators work 50 hours per week in a “normal” (i.e., completely physical) classroom, but only spend 49 percent of that time engaging with their students. The K-12 education industry is changing, becoming more collaborative, student-centered, and data-driven. However, there are some roadblocks along the way. Leaders in the technology space, especially those who provide edtech solutions, have a significant impact on the future of education.
Other EdTech and Google experts who spoke at the summit included Shreyasi Singh, the founder and CEO of Harappa Education; Pratik Mehta, Google Cloud’s Country Head for Public Sector; and Anant Swami, Google India’s Head of Industry, Education, and Government. Many of the experts concentrated on the most important takeaway for EdTech companies looking to grow quickly: the referral mechanism that comes with having an online presence. If your current customers like your product, they will become brand ambassadors for you, bringing you more customers in the future.