How EduTech Startups In India Are Changing The Way India Studies!
Edutech Startups In India
Education in India has increasingly become one of the hottest topics in the last few years. From lack of creativity in the Indian education system to lack of skill development, the Indian education is in desperate need of a drastic change.
i) Rise In Investments — The recent success of Edutech startups such as Byju, IndigoLearn and Embibe has led to a massive rise in investments from big names such as Chan-Zuckerberg Initiative, Tencent and Sequoia Capital.
ii) Bridging The Gap — Indian parents are becoming more aware of EduTech technologies through the smartphone integration. Edtech startups in India are trying to bridge the gap between personal & digital education by providing seamless solutions.
Why EdTech Is Winning!
From test preparation for competitive exams such as CAT, GMAT, GRE and UPSC to board preparation, the EduTech business model lays emphasis on UI/UX, design and technology rather than plain old conventional teaching.
Edtech startups in India have enabled learners to leverage technology to study in a totally unconventional way. Paired with video content, interactive content and online courses, edutech startups in India have given people a new way to learn.
1. No Geographical Boundaries
Online education has eradicated geographical boundaries which is a deterrent in places without proper infrastructural facilities. Semi-urban areas benefit from venturing into such digital education space.
On top of that, the government Digital India campaign and the cultural importance given to education make the success of digital education imminent.
2. Rise Of Low-Cost Smartphones & Cheap Internet Access
With over 300 million connected to the internet and the number significantly moving up to 550 million by 2018, The digital penetration of low-cost smartphones in India is one of the main factors that edutech startups in India have been able to make such rapid progress.
Cheap internet push by Reliance & other Indian telecom players have helped forge the Indian digital economy.
EdTech In Numbers
i) BYJU — Reports around 15 million registered users, with 900,000 taking annual paid subscriptions and an 85% renewal rate. Reports average app engagement rate of 53 minutes a day. These numbers are enough to vouch for the success of edutech education in India.
Key Investors — Sofina, Sequoia India, Verlinvest and IFC
ii) EMBIBE — By leveraging AI-based data and analytics, Embibe aims to deliver personalised learning for its users. students. It target users are spread across various demographics and age groups.
Key Investors -Lightbox & Reliance Industries Limited (RIL)
i) Inducing Trust In Parents — The single biggest hurdle to the edutech industry in India is the friction to change to conventional methods of teaching. Often parents, schools and colleges refuse to try the new methods of teaching.
ii) The Indian Langauge Barrier — A single app language or a single app/web interface language is another hurdle that India faces. A multi-linguistic country with majority non-urban areas, English content becomes more of a hindrance rather than convenience in India.