The technology that combines hardware, software and theory of education for the holistic development of a student is known as Education Technology. And the organizations that create this education technology are referred to as Ed-Tech.
They can be in the form of computer-based training, online learning, mobile- learning, etc. India is among the top three emerging venture capital funding countries in the ed-tech sector after China and India. This is leading India to hold a crucial place in the global education industry. With 260 million students enrolled in more than 1.5 million schools and approximately 39,000 colleges, makes the nation one of the largest networks of higher education institutions in the world. As the Pandemic hit the world, schools, colleges, and coaching institutes remained shut for days and months.
Facts about Ed-Tech Start-Ups in India
As per a report, the global Edtech industry is expected to grow to $112.39 billion with an annualized growth rate of 17.85% between the years 2021 – 2025.
India is an incredible company. And since the end of the pandemic, we have seen a flood of Indian startups emerging. With continued and dedicated support, India is soon going to become the No. 1 global startup hub.
Some of the interesting facts about Indian start-ups are-
- In India, to date, more than 57K Indian startups have been launched. This has been proven by shows like Shark Tank Indi, where various practical and business solutions have been evident.
- India is the 3rd largest startup ecosystem in the world. And with innovations, dedication, effort and support soon we will reach the top of the globe,
- With the Internet revolution in India, there are more than 18 listed Indian Internet companies to date.
- In India, currently there are more than 5,068 funded startups and the number is increasing very fast.
- More than 105 Indian startups are listed in The Unicorn Club.
How has this industry raised up?
During this critical time, online education along with educational technology kept the ball rolling for the students, teachers and parents. This was the time when the education sector saw a revolution in which the ed-tech startups got booming. As per a report, the online education industry is expected to grow up to 11.6 billion by the year 2026. Today anyone with a smartphone and internet connection can easily access any type of knowledge around any corner of the world. Students can even access world-class education from the comfort of their homes. Students mostly prefer to have their higher education from the world’s famous universities and colleges. Post-Penadamic many Indian colleges have tied up with well-known international education institutes to offer a variety of courses online which in turn saves students bulky education loans of relocating to these places. This revolution in the education system has also bagged many new job opportunities for teachers or learners. As there has been a rise in learning platforms, the requirement of an ample number of well-qualified teachers has also increased. As per a recent report, in the last five years, the industry has gained an investment of around $4 billion and it is estimated to expand by around $30 billion in the next 10 years. Augmented reality (AR), virtual reality (VR), and extended reality(XR) are the backbone of these ed tech industries. The students who are pursuing their careers in these fields have a good potential of being hired with a good package in the near future. The Indian government has taken initiative to promote online education programs like SWAYAM and DIKSHA.
Thus with the growth of Ed – Tech companies there is a huge scope for the nation’s growth in terms of education and employment.
Top 10 Growing Ed-Tech Startups
Udemy, MasterClass and Teachable are the big names in the Ed-Tech industry that have already held their positions. But there are some smaller, fast-growing Edtech startups that might grab your attention in near future. Here is the list of the top 10 growing Ed – Tech Startups
- Teachoo – Teachoo founded in 2014 and located in Pune, India, is an education platform that hosts a variety of online courses designed for English-speaking students in India. It includes Tax Preparation, Microsoft Excel and Math.
- CueMath – CueMath is located in Bangalore, India. It is a live-class platform for learning math and coding. It has its own platform with access to video calls and personalized worksheets, where parents can also track their child’s progress. It was founded in 2013.
- Quizizz – It is a gamified learning platform which can be used by children and employees. For children’s assignments, teachers can create quizzes or use a library of existing content. To support employee training, employers can create polls or quizzes. Reports are available with instant feedback on class performance. It was founded in 2015 and is located in Bangalore, India.
- BYJU’S – It provides personalized learning programs that transform learning into fun through their interactions and 3D learning classes to help the students to score better. They have recently included courses for preschool kids in the name of Byju’s Early in collaboration with Disney and special JEE and NEET preparatory material in collaboration with Aakash Institute.
- Upgrade – It is an online platform for students to achieve their career goals. They help students to get online degrees from the top universities across the world.
- Vedantu – Vedantu is an ed-tech platform where teachers provide online tuition to students. With this online learning system, students understand the concepts clearly through interactive live sessions, doubt-clearing sessions, and customized teaching patterns.
- Unacademy – This largest learning EdTech company in India helps students to prepare for major entrance exams like UPSC, IIT JEE, NEET-UG, Bank exams, GATE and ESE.
- Edukart – Edukart provides Indian and international courses such as MBA, MCA, BA, BBA, Bsc, etc. you can get a diploma, degree, and certificate courses from top institutes across the globe.
- Skillmatics – Skillmatics have innovative educational products and games that are designed for child’s growth and development.
- Collegeduniya – A platform for everyone who is seeking information on the higher education sector in India and abroad.
Conclusion
The Ed-Tech industry caters to completely different markets, from schoolchildren to executives that spend most of their time in B2B boardrooms. But these companies in India are coming up with a common aim to make education simple, creative, and achievable for everyone. With the exponential increase in the growth of internet users in India and the government of India’s initiative of ‘Digital India’ will enhance the education of India through the internet.