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The Driving Force behind India’s EdTech Revolution

The Driving Force behind India’s EdTech Revolution

The Driving Force behind India’s EdTech Revolution
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By CNBC-TV18 May 11, 2021 12:21:14 PM IST (Updated)

EdTech connects education and technology to offer a viable solution, redefining how knowledge is imparted, and skills are acquired. For centuries, the pursuit of education had been confined within the walls of a school, college, or institution. The last decade has seen steady growth in online learning. Over 2020, especially, EdTech emerged as an alternative to many forms of education. The ease of access, the abundant choice available, and the flexibility that online education offers ensured that learning never stopped. Perks like remote access and file sharing grew in popularity among working professionals. The advantages of online learning encouraged more and more people, students and professionals alike, to trust the process of reinventing the way people absorbed knowledge.

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Technology has offered increased access and ease of learning to students as well as working professionals, making the job easier for educators. When the future comes knocking at your door, you need a plan that meets the present demand.
Tech integrated learning environments
Although it may take some time to be fully understood by everybody, EdTech is growing rapidly. Technology-integrated learning environments are the need of the hour. The 1.4 million schools and 51,000 colleges, along with numerous educational institutions spread across India, have been entrusted with the task of taking the online learning landscape into the future. In fact, hybrid models of technology-integrated classrooms were already a big part of many top-notch colleges and schools in the past. The trend grew stronger as technological advancements unleashed the creative aspirations of educators, entrepreneurs, and visionaries. The EdTech sector is a mirror of the future in our hands, where the youth are the majority stakeholders of its transformative power.
Through a futuristic approach, the technology available for facilitating uninterrupted learning is nothing short of awe-inspiring. Paired with convenience and collaboration, modern technology for education has created a more refined method of knowledge acquisition. While the technicality of technology-driven innovation is made simpler for the end consumer, a vast majority of students and teachers are already making optimum use of EdTech platforms. Byju’s, Google, Khan Academy, upGrad are among the numerous other endeavors driven by visionaries contributing to the evolving demands of education in the 21st century.
What makes EdTech a powerful force?
The adoption of inventive ways to teach and train will chart the course of modern learning environments in the years to come. People can acquire new skills and learn from experts from the comfort of their homes. Professionals can easily balance work with their learning aspirations in a highly competitive environment. Educators can multitask and handle large groups of students virtually, with various features to make learning more impactful. Students can learn at their own pace through carefully curated lessons that offer a holistic view. Unique philosophies and approaches can be developed to scale up the education process, even in the most remote areas of a country. More students will gain access, more educators can share their wisdom, and education can truly become a human right. EdTech startups have risen to the occasion, taking part in the reform at the very roots of education and society. The online learning sphere is expected to grow by $1.96 billion in 2021, and we’ve only just begun to take notice of the powerful EdTech sector.
Here are the 4 trends in the demand generated by EdTech for an improved quality of learning, upskilling, and education in India.
The 4 Pillars of EdTech in 2021
Robust Demand
  • India houses the largest population in the world, consisting of 500 million people in the age group of 5-24.
  • India has a population of more than 250 million school-going students, more than any other country.
  • India also has a large concentration of working professionals who benefit from EdTech platforms.
  • Competitive advantage
    • There were 504 million regular internet users in India in November 2019 and this increased by 47 million people from 2020 to 2021 January. This number has further increased over the first quarter of 2021.
    • Access to the internet will determine the quality of education imparted to even the most remote regions of India.
    • Access to the internet will determine the quality of education imparted to even the most remote regions of India.
    • Policy support
      • The Government has taken initiatives like the National Accreditation Authority Bill for Higher Education & the Foreign Educational Institutional Bill, which improves access to quality education from all corners of the nation and the globe.
      • 100% FDI (automatic route) is permitted in the education sector in India, empowering educational institutions and educators with resources.
      • Increasing investment
        • In 2020, investments in EdTech touched $2.3 billion from Venture Capital funds.
        • EdTech startups have received more than $2.5 billion in investments during 2020 and more than $553 million in 2019, showing consistent growth in the past three years.
          Smart learning for a brighter future
          EdTech offers the vast majority a chance to pursue their ambitions and exercise their willingness to learn. The convenience enabled by technology, paired with the ease of access to information, is a vital source of enlightenment with many positive outcomes. Smart solutions to everyday problems are offered through tech-driven innovation. People come together and use technology to liberate the world from social issues that arise from the lack of access to education. Children are given a chance to explore their interests and break out of a classroom environment into a personalized learning environment. Student-centric philosophies and professional aptitude can create reform at every level of society and the economy, the quality of life trickling down gradually. Students and professionals who want to learn new skills can take up tailored courses on their own time, at a cost that does not burn holes in their pockets. People can choose their skills and align their aspirations to their undying spirit for the best outcome. The knowledge bank at the fingertips of internet users can be leveraged as the guiding force for upskilling nations and the world. Cloud technologies can offer unprecedented access to the best quality education, made available to the vast majority of the youth. Children with disabilities can receive uninterrupted learning, and people at large will become aware of the right to education, even in the most deprived societal and political conditions. EdTech is the vision of people who want to make the world a more connected, intuitive, and explorative place, where knowledge becomes wisdom and wisdom shapes the future of humanity.
          “An investment in knowledge pays the best interest” – Benjamin Franklin
          However, for a smart future that can improve the quality of life, we must all come together to acknowledge, identify, explore, and apply the potential of EdTech. The revolution has begun, and you are invited to become a part of the change. As online education is evolving at a phenomenal pace, Education Next Summit brings together a panel of eminent EdTech leaders, VCs, and industry experts. The speakers at this virtual summit are pioneering forces in the industry, experts who embody a vision to improve the quality of life. Share the space with prominent thinkers and professionals dedicated to the furthering of tech-driven innovation in the nation and the world.
          This event is driven by the changing educational and technological landscape, which in recent times has begun to restructure the basis of conventional practices, introducing a practical and result-oriented approach to tackle the rising demands of education in India. With easy-to-comprehend technology tools and user-friendly software, EdTech is the future in your hands. Through ideation and innovation, the goal is to shed light on the EdTech revolution gaining momentum across the world.
          Save the date: April 22 & 23
          This high-powered summit will give you a sneak peek into emerging trends and changing consumer behaviour that will help you drive user acquisition, improve UI/UX, and gain a deeper understanding of the export market.
          Save the date and show up at the virtual summit, become a part of the future revolution.
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