The Indian education and pedagogical framework has hitherto suffered from countless years of imperial slavery/enslavement which has resulted in a massive colonial hangover. The country’s education system still follows a woebegone and outmoded system which was originally devised by the British overlords to produce an unimaginative and highly mechanized workforce. Critical thinking and native ingenuity were obviously suppressed, for who would desire questioning and self-assertive individuals in a servile colonial state?
The country’s education industry was valued at a whopping US$ 91.7 billion in 2018 and is projected to touch US$ 101.1 billion by 2019. With around 4,031 active EdTech startups in India aided by a booming IT infrastructure, the sector is garnering substantial funding and patronage from numerous tech-driven corporate enthusiasts and innovative entrepreneurs.
Though sadly, most of these startups such as Byju’s focus on CBSE and ICSE boards, where the paying capacity of student/parents is high. But 92% of the K12 students in India study in various state boards, where very few startups such as Bright Tutee, Toppr, etc. focus.
Online test preparation is one of the fastest growing segments in the Indian edtech vista. While Factors such as flexibility, convenience and lower cost options are progressively promoting the popular adoption of online higher education platforms amongst students and professionals alike, edtech platforms are also shaping up a new and rejuvenated mode of learning for K-12 students. For instance, Bright Tutee offers topic wise videos, assessment, solved and unsolved papers, question bank, sample papers and exam preparatory material for 20 state boards of India.
The unforeseen technological evolution and rise of cutting edge innovations such as AI, ML and the IoT has spearheaded a promising edutech industry in the country. With Education Inc undergoing a digital transformation, prominent edtech players like xyz are revolutionizing the Indian education frontier with their novel and disruptive offerings.
Going beyond supporting school curriculum and helping candidates prepare for tests, the edtech sector today is venturing far and wide, catering not only to conventional K-12 school curriculums but also helping candidates prepare for competitive exams. Specialized online edtech platforms are also propagating essential business skilling and learning management systems. These new age startups are fast unseating and redefining the traditional notions of learning.
Undoubtedly, this has a considerable effect on the extant disjointed education system. The outdated nature India’s education structure has failed in dealing with the contemporary issues plaguing the nation. This in turn has an undeniable impact on the economy. The emerging Edtech sector is paving the
way towards redemption by offering diverse modules such as skill development, re-skilling, up-skilling, some edtech players are shaking the entire value chain by graduating towards university-level courses and even B2B models.
A vast number of edtech startups today offer highly engaging and multimedia-rich product content that integrates text, pictures, video and, sound. The ratio of video consumption with respect to the total internet traffic is set to increase from 58% in 2017 to 77% in 2022. This implies that the traction of the online educational content in India will develop significantly in the coming years.
The widespread permeation of internet services and the extensive adoption of smartphones and other electronic gadgets have rapidly escalated the demand for online content in India. This has attributed to the growing addressable market in the country for edtech products and services. Add to the fact that it is verily the Indian youth that is enabling the far-reaching implementation of edtech products and services in the nation.
New age technologies are further empowering the edutech ecosystem in the country. It is seemingly re-imagining the way students learn in India. Exciting and novel alternatives such as Ebooks, online tutoring and test prep applications, web-based research, use of gamification in online education portals are rapidly reforming the traditional education system.
These factors have aggressively catalyzed the monetization opportunity in the Indian Edtech Avenue. With edtech startups anticipating huge growth due to favorable market conditions, the reception for such products and services is posited to increase.
Article by Anant Goyal, Director and Founder, Bright Tutee.