Learning today is far removed from notes scribbled on blackboards and students listening to teachers passively. Assessments too – which earlier used to be intertwined with Half Yearly and Annual Examinations – have undergone a paradigm shift with edtech innovations reshaping the entire ecosystem.
Today, education is all about engagement, personalisation and accessibility. Powered by real-time AI insights, class assessments are data driven, helping teachers track students’ progress and take immediate remedial measures to improve learning outcomes.
It is a win-win for all – teachers, students and parents, who are all privy to day to day progress of the students thanks to interactive features embedded in these edtech tools which make learning fun and engaging while empowering teachers at the same time.
All this is due to the latent fire in the belly of young tech entrepreneurs who have taken upon themselves the task of solving real-life challenges pertaining to education by going into granular detailing of existing problems. In the process, not only are they improving learning outcomes through their innovations but also strengthening India’s digital economy and creating meaningful jobs.
Fully aware of the ground reality of obstacles children residing in far flung areas face, tech entrepreneurs foraying into education, are also focusing on innovative tools to deliver seamless learning modules even in areas with erratic or no power supply or for that matter internet connectivity.
Leveraging technology and mastering AI algorithms, edtech entrepreneurs are working silently not only to strengthen existing education delivery models but also breaking down socio-economic and geographical barriers by bringing quality education to remote areas and children from underserved communities through their interactive platforms.
Driven by the innate desire of bringing about social impact at scale through affordable solutions, edtech is acting as a strong pivot for young entrepreneurs who are looking at giving back to the society in a meaningful manner using technology for good. The outcomes are there for everyone to see – increased classroom engagement, real-time assessments, insightful data driven analytics, thereby turning education into an all-inclusive and holistic ecosystem.
On a slightly different note, it would be worthwhile to mention that through edtech platforms, we are not only preparing our young generation for the future but also working behind the scenes to empower them with skills required to bring about constant upgradation and reinvent the wheels as it were.
What is fueling tech entrepreneurs to venture into education is a large pool of investors who are waiting to put in their money for scalable socially impactful ventures. Mentorship for industry stalwarts and researchers is also an added plus. Various business models – be it Freemium, Subscription, Marketplace, Institutional/B2B Models or blockchain-based incentives are readily available for tech entrepreneurs to explore and leverage.
Corporate houses – including those whose core business interests lie in areas other than hardcore IT – who channelise their Corporate Social Responsibility funds for education are also exploring partnerships with organisations working in the edtech space in a bid to take their platforms to their target areas including those in the back of beyond to improve learning outcomes.
To attract edtech entrepreneurs, Government of India has also rolled out multiple start-up support schemes under StartUp India offering seed funding, fast track patents and tax benefits. While the StartUp India Seed Fund Scheme (SISFS) provides up to Rs 20 lakh in grants for prototypes and Rs 50 lakh in convertible debentures for market entry, under the SAMRIDH Scheme, entrepreneurs can get up to Rs 40 lakh co-investment and mentorship.
With the focus shifting to online and hybrid modes of learning post COVID-19, tech entrepreneurs literally can aim for the stars when it comes to experimentation, innovation and scalability.
While every business is driven by numbers, when the same comes as a spinoff of scalable solutions to meet pressing societal needs, the Balance Sheet for sure doesn’t just remain about numbers but becomes a living, breathing entity driven by passion.
Disclaimer: Views of the author are personal and do not necessarily represent the website’s views.
Author of the above article Mr. Pankaj Agarwal is the Founder & CEO of TagHive Inc., a Samsung-backed edtech company behind Class Saathi, an AI-powered classroom engagement and assessment platform used in over 15,000 classrooms across India, South Korea, Vietnam, Malaysia and South Africa.