India is growing exponentially with startups and industries skyrocketing the nation’s economy. With an enormous amount of edtech startups in the country, India has now considered the capital country for edtech industries. In this scenario, both the private sector and the public sector are working hand in hand to boost the education industry.
The number of edtech startups rapidly developed during the last 2 years in order to facilitate flexible learning and adapt to the evolving market demands. Business Outreach Magazine has always been at the forefront to provide you with the latest news and updates about the various industries in India.
The Edtech Development :
The time before us always requires improvement and flexibility. Parents and children have fitted themselves to the traditional context of education for so long that offers a flat system of education structure. The edtech startups prepare tailored modules and programs for students and allow them to complete all the modules according to their own pace. Students also get to gain feedback from their teachers at a more personalized level according to the performance of the child.
There are some students who are good in studies and some who need more attention from the teacher. Edtech setup gives every student the opportunity to learn and excel according to their skills and information retentive prowess. These startups also are helping students to crack the competitive exams and reports suggest the rate of success for these students went from 1% to 7%.
Edtech has transformed mass teaching to a flexible approach and this has greatly amplified the sector. Firstly, every student has a different set of strengths and weaknesses. Sometimes low-income households require children to help their family members with daily chores.
This helps students to choose the education provided by the edtech companies as the gaps in teaching are properly addressed. The affordability also gets hugely benefited for the parents and no geographical limits are taken into consideration.
Flexibility for Families :
When a family goes for an edtech startup to get an education for their child compared to a traditional setup, the technology and innovation let them cover more grounds on ease of completing the modules. Improved system of courses, multimedia setup of animation, and interactive resources creates a more engaging experience for the student.
But edtech also has a lot of drawbacks. Since the concept is still at its budding stage, infrastructure is limited and poor accessibility to digital resources stands in the way. At present, there are about 4,450 startups in the edtech space in India that are coaching and mentoring more than 300 million students.
Out of these about 40 million students got a huge setback from their higher education due to the advent of the pandemic. In such scenarios, IT edtech companies came into the spotlight for making a diverse and inclusive approach towards learning. With time, edtech has the capability to lessen the rich and poor mark in the student database and share an equal quality education for all.
Gradual Innovation of Edtech with Modern Time :
The boom in this growth of the edtech sector is also due to the entrepreneurs that are going for a multicultural way to add to the country’s economy. This method is creating innovative and skilled educators who are delivering world-class education.
It has been seen that edtech companies from India are expanding their horizons by collaborating with global universities and seeking more funds from investment groups to back their vision. This has led to more visibility of these edtech companies in countries like the United States of America, Canada, the United Kingdom and many others.
Such an approach has been possible due to the National Education Policy in the year 2020 that allows foreign universities to partner with edtech companies in India for a shared learning system. The companies in the edtech industries are also creating education affordable and accessible to marginalized communities with the assistance of the public sector.
The pandemic has shaken the entire system of order of the entire world and the education industry is also hugely affected by it. In some states with the help of edtech startups, tablets have been distributed to students to bridge the digital divide and allow every student to gain knowledge and education.
In the last decade several industries have emerged due to accessibility of technology and seamless passage of information. Now, India is a country that has ranked third as the startup ecosystem in the world and has been strengthening its economy and growth.
The Future of Growth School :
In Bangalore, the community-driven live edtech platform, Growth School has secured about $ 5 million as seed funding from investment firms like Sequoia Capital and Owl Ventures for making a more robust ecosystem. In this more several angel investors have participated like Kunal Shah, Ritesh Agarwal, Austen Alfred (Lamba School founder), Eric Siu, and many more.
The official announcement from Growth School indicated that they want to expand the team and establish a further strong ecosystem. This funding will also allow the startup to venture for more markets and also study metaverse for the education industry. The employment rate in India dropped significantly due to inflation and gradual layoffs.
All these created adverse effects in finding the right skilled professional for the jobs of the future. About 69% of employers are currently finding it difficult to employ a skilled individual with the right set of soft skills. The traditional institutes are not being able to provide industry-standard education and skill which will make graduates employable. Graduates and working professionals need to continuously upskill themselves in order to stay applicable in the professional backdrop.
Growth School comes at this right juncture to fill the individual who are working with the right amount of skill set in order to grow in their career. They have a community-led module system that teaches precise knowledge in a short duration of time.
Growth school has collaborated with industry leaders and influencers to mentor the individuals who are regular job seekers and do not have a lot of time in their hands. All these courses are for 4 weeks, 8 weeks, or 12 weeks which are offered at an affordable price with the flexibility to be completed at the pace of the individual.
The founder of Growth School, Vaibhav Sisinty said, “I spent the last two years training over 100k people in growth marketing, and that’s when I realized most of the candidates wanted real-life skills that they can use to produce immediate results in their careers. When someone is actively seeking a job, they do not have the luxury of doing a long-term program that spans over months. That is how I founded Growth School, with the mission of helping people get the best skill upgradation from top professionals in the industry, over the shortest period of time. We aim to be the go-to platform for learners all over the world to acquire skills from the top 1% of industry experts.”
Kriti Bansal from Owl Ventures said, “We believe that GrowthSchool has the potential to fundamentally shift how learners upskill and prepare for their personal and professional lives today. Growth School’s live learning platform has garnered strong trust among a growing community of over 200k users in short order as lifelong learning becomes increasingly important to stay competitive in the new digital economy. By teaching highly-relevant topics in short bursts from the leading experts on those topics, GrowthSchool is building the go-to global platform for upskilling.”
It was the year 2020 when Growth School was founded. At that time they were only six members and were working as a bootstrapped company. At this present date, more than 2,00,000 users accessed the program when the company was in their stealth mode.
Some of the courses that are offered in Growth school are UI, how to work as a freelancer, modules in Performance Marketing, proper strategies to invest in crypto, UX and many more.
The company is aiming to spread their reach outside India as well as most of these programs have strong relevance in the global world. All of these visions are possible due to the impeccable leadership that includes Sidharth in Product and Design, Manu Raghavan in the Engineering department, Rajat Sharma in Sales, and Bharat Pinnamaraju in the Supply division.
Business Outreach Magazine appreciates technology and approach for the welfare of the society. The process of Growth is indeed an exclusive one and an imperative path towards further excellence.