Education and literacy is an integral part of human civilization for centuries. The Ancient texts and scriptures around the globe mention education being imparted by Gurukuls, Monasteries, Madrassas and various other schooling mediums.
Teachers and mentors in ancient times imparted knowledge regarding Religion, Scriptures, Philosophy, Literature, Warfare, Statecraft, Medicine, Astrology and History, which, in fact, are the mainstream subjects taught today. The domain of education has evolved from traditional handwritten text and learning material to Hi-tech interactive classrooms and laboratories. This complete overhaul in the education sector can be attributed to the emergence of EdTech startups and companies lately. EdTech companies have changed the landscape of entire education sector and creating a positive impact globally.
What drives the EdTech Sector?
When the need for something becomes essential, you are forced to find ways of getting or achieving it, which is absolutely true in the context of EdTech field.
Most of the EdTech companies are the brainchild of innovative minds and incredible ideas of the talented folks. They have had the sole intent to make a constructive change in the traditional education system with advanced and hi-tech solutions, they developed.
Many a time, students, as well as teachers, find the traditional education system monotonous and disinteresting, which affects the overall development and productivity of pupils, who are in fact much more capable of grasping and learning, if engaged appropriately. If the learning is a stressful process, it hampers motivation and quality of education. It is said that a person can easily grasp and recall visual things than just theory.
The various subjects like mathematics, biology, chemistry, art, etc. have become fun to learn and easy to comprehend with the advanced interactive and thought-provoking learning solutions provided by the EdTech companies, which makes it more effective for pupils in long run. According to a recent study, a drastic difference was observed in the students from elementary to high-school in terms of productivity, who went through the digital and interactive learning process.
Another important factor is “student to teacher ratio.” Most of the developed and less populated countries have an adequate student to teacher ratio in schools and colleges. However, it’s a completely different picture in developing, underdeveloped and densely populated countries, where the education sector is in grim condition due to the lack of teachers and inadequate learning facilities. The quality of education is also compromised due to government inactions and apathy.
EdTech companies are playing an extremely crucial role in these countries by imparting education and providing much-needed learning infrastructure to the masses in a very minimal budget and time.
Learn on the Go
For almost past 100 years or so, we have been following a learning model (especially elementary to high school level) where, a teacher or professor stands at the front of the classroom explaining ideas, writing on the board, while students sit and listen with the learning materials being mostly physical textbooks.
Now, however, in the digital realm, EdTech has transformed the conventional notion of a classroom. The availability of low-cost and high-speed internet has made it possible for EdTech to reach a wider and vast section of the population. Students are using laptops and tablets to learn various aspects of the curriculum through digital media, and teachers find it more appealing to elucidate different facets of their subjects. Many schools and colleges have in fact implemented BYOD (Bring Your Own Device) policies for students’ convenience.
This digital learning content is more up-to-date and comprehensive in nature, which allows the pupils to explore and learn at their own pace. It can be altered and customized as per the learners’ need at any point in time. Hence it gives liberty to schools and colleges to easily adapt and embrace this digital technology.
Distance education is just a click away today; one can pursue the interesting courses from miles away sitting in another city or country altogether, thanks to e-learning programs offered by several institutions across the globe. It saves huge time and money for the individual, which couldn’t be possible within the traditional education system.
EdTech tools offer a very high level of user engagement and learning. Teachers and Educational institutions leverage the EdTech tools to practically and smartly access a student’s progress. Instead of waiting for exam results to disclose a student’s development in a particular subject, one can use EdTech tools to monitor their performance on day-to-day basis. It offers you ways to track a student’s performance by going through his scores, classroom attendance, and participation and then come up with a plan to work on the weak areas.
Every society is divided into different strata. Some belong to the privileged class and some to moderate and some to underprivileged class. According to UNESCO report, approx. thirty-five percent of world’s illiterate population lives in India, which is quite alarming. Due to the advent of EdTech companies, the situation is changing gradually, as an underprivileged class has now access to digital education with the help NGOs and civil societies. The country’s progress and development rely on its younger generation, & hence it has to be well-educated and literate.
EdTech, the Future of Education
Edtech is poised to be the biggest and possibly the most profitable digitalized sector in the future. This sector possesses huge potential and offers you a plethora of tools and options to learn, unlike the partial knowledge offered by cumbersome and relatively expensive textbooks. Since all students don’t have the same learning proficiency, one can personalize these EdTech tools according to one’s needs.
The steep rise in the cost of a high-school & college education coupled with the competitive job market has allowed EdTech companies to increasingly grow its reach to the masses.
From companies providing education via video conferencing and to using neuroscience for personalizing learning experience, Edtech sector is growing rapidly in size and revenue. EdTech is assumed to be the next FinTech.