Let's crack it… Unacademy’s tagline resonates every aspirant's ardent desire for cracking the exams they have surrendered their sleepy nights to . Like Unacademy, many Edtech startups are connecting the vibe via unique taglines that perfectly caters to every student’s exam day struggles.
As these major Edtech companies are diving into the educational sector, those boring 20th century lectures are slowly transitioning into fun- filled, interactive and vibrant classroom experiences. Redundant, monotonous pen paper based approach is long gone, now the Education sector is getting the blend of virtual realities to shift the boring approach.
To know more about Edtech startups and how its fusion is playing a key role in the educational sector please follow the blog.
What is Edtech?
In simple terms Edtech refers to a combination of Education and Technology. This unique fusion is acting as a major game changer for the modern day education system. As classrooms have become virtual, it is important to adopt a learner centric approach.
A boom in technological advancements is assisting teachers in adapting the course curriculum. Introduction of IT tools in the classrooms is a win-win situation for both teachers and students. It enhances student learning experience and at the same time opens new avenues for the teachers.
This video describes in detail the concept of Educational Technology :
Advantages of EdTech
- Advanced Tech has enhanced student’s learning abilities. Students can schedule their own classes to learn at the right pace. They are learning via a project based approach which is helping in the development of their analytical skills.
Learn by Fun, Tech has made this concept a reality, with advancements in virtual reality education is no more a textbook based approach, it is the reflection of real life skills. VR based learning is interactive and promotes student learning abilities. As virtual environments are a close replica of real worlds, students capture it all to imbibe important concepts.
Bridging the gap between teachers and students is the need of the hour, and Edtech simply does that. Online environments are more strategy focused, they focus on time management which helps students to understand the importance of time based learning.
7 EdTech Startups that are transforming the Education Sector
Coursera is an American startup that provides online courses to working professionals and students. This startup was founded in 2012 by two computer science professors namely Andrew Ng and Daphne Koller.
It has partnered with more than 200 universities for bridging the gap between modern workplaces and traditional education systems. With industry focused courses from University of Michigan, Imperial College of London, Yale and many more this startup has established its name in the EdTech market. At present 70 million students are enrolled in Coursera.
(Related Blog : The Success Story of Udemy)
Coursera follows a Business -to- Customer (B2C) and Business-to-Business (B2B) Model. It directly deals with students and working professionals. It makes money by selling online courses to students. Post-purchasing courses from Coursera students can access the course materials. It has partnerships with various universities and individual institutions.
Byjus is an Indian edtech startup that was established in 2012 by Byju Raveendran and Divya Gokulnath. Byju’s offers interactive online learning programs for students from varied age groups.
It follows a personalized approach, Byjus has introduced new preparatory courses on their platform for JEE and IAS aspirants. 50 million students are enrolled on this online platform. This startup has recently acquired Epic, Toppr and Grade to strengthen its portfolio.
(Must Check: The Story of Vedantu)
Byjus’s follow a freemium business model. Byju’s basic content is available free of cost to every application user though access to its advanced content is strictly limited to the students who have purchased the course content. Freemium business model attracts many students.
Newsela is an American edtech startup, focused on transforming the educational system. This startup with a reformative approach was established in 2013 by Matthew Gross. Newsela the “Edtech startup” has revolutionised the education system in 90% of schools around the globe.
Its unique content tool enables teachers to find articles that are relevant to the learner's needs. It assesses the learner's ability and customizes course content in accordance with the learner’s needs. Interactive course content is available in English and Spanish.
Company’s website covers articles from different domains and features sports, history and career tips. More than 11 million students are using Newsela.
Newsela follows a freemium business model, its website provided valuable content for free in the initial stages, now Newsela’s course content can only be accessed by those who have a paid subscription. This company is acing this business model, as the articles are insightful users are willing to pay subscription fees.
Immersive VR Education
Immersive VR Education is an Irish Edtech company that is leveraging the benefits of virtual realities to provide an interactive learning experience. This edtech startup began its transformative journey in the year 2014.
It was founded by David and Sandra Whelan. Startup has collaborated with various educational institutions. VR based learning is intriguing, it focuses on arbitrary concepts and discards obsolete educational approaches.
“Engage” VR platform by Immersive supports both VR and Non- VR devices. Oculus, Vive, and Pico are some VR headsets that support this educational application. Immersive VR Education has three diversified categories namely professional course category, corporate training, and business organisation.
Immersive VR follows a B2B (Business to Business) and B2C( Business to Customer) business model. Immersive VR Education makes its revenue by selling courses directly to the students, it also sells curated content to the educational institutions that can later be accessed by the students.
Following the B2B and B2C business model, this edtech startup is making profits and also transforming the educational industry.
Image describes annual revenue and business models of Edtech startups (Source:Growjo and Owler)
Panorama Education offers a distinctive blend of education and technology. This American SaaS platform provides virtual dashboards that focus on student monitoring. It was established by Aaron Feuer, Xan Tanner and David Carel in 2013.
Startup follows a unique approach for monitoring student’s success. It collects the data and arranges it on a single dashboard. This dashboard follows evidence based strategies to support students. Dashboards can automatically filter information thus reducing the workload of teachers.
Platform provides study material for in depth understanding of social and emotional learning. By enhancing the capabilities of data analytics, this resource tool is the right companion for both teachers and students. Panorama has helped more than 12 million students across the globe.
Panorama Education follows a Software-as-a-Service (SaaS) business model. They provide access to their software post payment of licensing fees. Licensing fees vary for different US districts.
After receiving the fees they provide software access (for an year or more depending on the subscription plan).
(Related Blog: What is Platform as-a-service (PaaS)?)
ApplyBoard is a Canadian Edtech startup that was established in 2015 by brothers Martin, Meti and Massi Besiri. It provides an artificial intelligence recruitment platform to assist high school students that are looking forward to abroad education.
It also provides scholarship guidance to international high school students. This platform enables students to apply in more than 1,500 educational institutions across the globe.
It aligns student’s interests with the suitable courses. Courses catered to the learner's cognitive abilities are simply one click away from them via this platform. More than 2 million students are using this platform to fulfill their overseas educational goals.
ApplyBoard follows a B2B business model, this company has tie ups with 700+ educational institutions. It directly deals with top notch universities and educational institutions.
It earns its revenue through revenue sharing agreements with post secondary institutions. These institutions enhance startup’s credibility which further paves way for enhanced reach.
“There’s no companion better than a book”. Founders of Perlogo have truly taken this statement by heart, and therefore they built an online digital library that provides the best collection of non- fiction, and school textbooks.
This UK Edtech startup takes a multi- disciplinary educational approach. It provides students with the latest e- books that help them understand complex concepts via easy methodologies.
It was established in 2016 by Gauthier van Malderan and Matthew Devis. Online library have books from diverse domains namely architecture, art, life sciences, Computer Science and History. Perlogo has more than 3,00,000 textbooks on its iOS and android application.
(Related Blog: Top UK Startups To Watch)
200 million students worldwide are using Perlogo, for accessing online textbooks. Its global reach is doing wonders.
Perlogo follows a B2C business model. Perlogo application permits students to read unlimited textbooks for free after paying a subscription.
This subscription fee is the company's main source of revenue. One time subscription plan enables access for an entire year. This B2C model is benefitting this company, as direct dealing with students eradicates the need for third parties. As subscription cost is nominal students are eager to take advantage of premium account.
“Education is the key that unlocks the golden door to freedom”- George Washington Carver
Since time immemorial education has carved the way for people’s success. In the modern era tech is infusing new approaches for teaching and learning. Edtech startups are playing prime roles in boosting worldwide economies. 21st century learners are well learned and need a proactive approach, Edtech startups are giving that push. With numerous advantages, these startups will lead the “future of education”.