6 Upcoming Business Models In Educational Technology
India’s edtech startups may be having their last laugh. Experts used to talk about the difficulties in the sector and how difficult it is to scale up a few years back. Many edtech startups closed down and received very little funding.
The tide has turned today and KPMG’s report Online education in India: 2021 says that the industry could reach $1.96 billion by 2021. BYJU’S acquisition of companies like Aakash Educational Services and Great Learning, Toppr, or upGrad acquiring KnowledgeHut are all news stories about edtech.
We now see many innovative services and offerings within the space, in addition to coding.
Below is a list of 6 models for business in this space, along with the coding.
Celebrities Turn Mentors
FrontRow, Mento, and CelebritySchool are just a few of the startups in this space. FrontRow, for example, was backed by Deepika Padukone. According to reports, it has several celebrity instructors like Yuzvendra Chahal and Suresh Raina, Neha Kakkar, and comedian Biswa Kalian Rath.
Unlu also has a few famous celebrities who have taken classes in different categories such as Manoj Bajpayee, who teaches acting, Ruskin bond who teaches writing, and Sania Mirza, who teaches tennis. Unlu claims that it has more than 1 million users and that its revenues have doubled since unluclasses was launched in March.
Teaching is the noblest job. Everyone has the right to learn from the best teachers around the world. People love stories that inspire them. They want active learning rather than passive. “We bring together people who have achieved the top and have an experience, as well as a journey to inspire billions,” Vipul, cofounder of Unluclass told Entrepreneur India.
Edutainment For Pre-schoolers
Some of the most prominent startups in this space include Kutuki and OckyPocky as well as Kiddopia and PlayShify. This sub-sector uses a songs-based curriculum and proprietary stories. This allows for the use of voice, vernacular, and video as well as teachers. These apps are edutainment apps, which offer education through fun. These startups offer a variety of features, including maths, language skills, and social-emotional education.
Offering Industry-Relevant Skills
Today’s job market shows a large gap between the skills and education that is valued by employers. SkillLync and AttainU are skilling platforms that capitalize on this. The ever-increasing gap in expectations between engineering students and the industry has led to a shortage of engineering talent worldwide.
Engineering professionals need to be constantly trained and updated due to the rapid adoption of new technologies in industries. It is therefore essential to have engineers with a solid understanding of engineering principles and how they can help solve real-world engineering problems using engineering simulation tools and design,” said Suryanarayanan P, co-founder, and chief executive officer, Skill-Lync.
The ‘Zoho Schools Of Learning,’ a Saas giant, offers an alternative to a traditional college education. Students are taught practical software engineering skills and useful English communication skills. It says that Zoho Schools is the right place for you if you’re determined to reach your career goals and don’t want a traditional college education to stop you.
Teaching The Teachers
Today, many startups are providing digital tools for teachers such as student activity management platforms. Others are giving them technical knowledge to help them in the future.
Classplus, for example, offers everything a teacher requires to be a successful digital educator, including technology and business support. Teachmint is a Bengaluru-based company that allows teachers to create virtual classrooms with their smartphones. It allows teachers to take lasses and engage with students, assign tasks, collect fees, and all this virtually.
Dance, Music And Other Extracurricular Coaching
Schools and colleges were able to move online quickly following the pandemic. However, children stopped participating in extracurricular activities. Many startups were able to take advantage of this.
Bhavish Rathod, former Uber Eats India chief, and Tripti Ahuja launched Kyt in June 2020 to offer classes in music, reading, and dance. KidEx, another startup that was launched in the same year, is a data-driven platform offering extracurricular activities and life skills. Bambinos, a Bengaluru-based startup, offers many co-curricular courses like creative writing.
B2B Edtech Startups
Schools, colleges, coaching institutes, and other traditional institutions were faced with enormous challenges by the pandemic. To ensure continuity in business and learning, they had to quickly access their entire work online.
Startups that are business-to-business (B2B), saw great potential in this area and began offering Saas tools for making the transition seamless. These tools are offered by mPowerO Upswing learning, Classpro, and mPowerO Upswing Learning. They include exam assessments, real-time tracking of student performance, instant feedback, and assignment management.