India has the largest
population in the age group of five to 24, with 250 million school-going
students, according to the
The need for upgrading the
online education system has been pending for a long time in
This scenario is
also attracting a lot of Investors from diverse sectors towards the online
education space as Investors are foreseeing the future of Indian education
through these edtech platforms. Let’s have a look at what these booming edtech
platforms have to say about the current Indian education ecosystem.
Going forward, industry
stakeholders see opportunities for more sustainable and mature solutions, as
they start catering to different income groups and specialized learning needs.
Due to the rise of edtech platforms we have seen a
major shift from classrooms to smart devices, the medium of education and
learning in
Elaborating the
subject, Mr. Vipul Sobti, Business Head, Unthinkable Solutions LLP says, “Education
needed a lot of innovation and technology had a large role to play. It's long
pending due to education systems across boundaries. With lockdown, online
platforms played a critical role in education delivery. These platforms did
exist for a long time and the situation accelerated adoption. No doubt,
stakeholders across realised the true potential in technology and edtech
emerged as a promising sector for investors. It's just the beginning and the
sector has a lot of scope for innovations and scale.
Road
ahead is bright for both B2B/B2C initiatives with 3 Mn schools and 500 Mn
students. Upcoming 5G will further strengthen the reach and shall drive
penetration across tiers. Declining cost of tech ownership and wide
availability shall fuel the adoption. We may expect heavy funding and mergers
& acquisitions in future. In all, it will improve the quality of education
and make it affordable”
Expressing his views on the
same Mr Diwakar Chittora - Founder & CEO at IntelliPaat
says "In this covid19 situation where every other sector is
struggling to survive, Edtech is one only sector that has seen maximum traction
from VC/ PE’s, and the Edtech industry has seen the highest investments in the
last 3 months. Due to COVID19, the complete education sector has been forced to
move online whether its schools or colleges or traditional classroom training
centers, and if we see the education sector has moved 10 yrs ahead. With a lot
of job losses around the globe, there is a heavy demand for high-quality skills
programs that can help freshers and professionals to secure their careers and
job in this pandemic situation”
The online education space
also witnessed some innovative & progressive study solutions. Teaching
entrepreneurship to students from a nascent age is one of the many outstanding
concepts in the market.
On
the matter, Mr. Pavan Allena, Founder & CEO of
MetamorphosisEdu says, "Today edtech platforms are going
toe-to-toe with the education institutions in order to create a feasible
environment for the students. The wide acceptability & usage of the
internet has certainly helped a great deal in this. We at MetamorhosisEdu being
the only platform in the world to be providing entrepreneurship training to
class 6th – 12th students are also hell bent to
come up with interesting online study modules that encourages students to take
on entrepreneurship at a young age so that they can actively contribute in the
mainstream flow of Atmanirbhar Bharat.
Of late, the Edtech sector has witnessed some steep growth both in terms of
utilization and acceptance. This welcome development has not only opened up
various avenues for education but is also luring in investment from all across
the board. Funders are now actively investing in the wide array of edtech firms
in the market in order to receive quick ROI and to also help build a brand for
the future!"
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