Edtech giants like Byju’s, Unacademy, UpGrad, Toppr, Vedantu, Udemy, and others have experienced unprecedented growth as a result of high demand for educational content to meet the needs of students at various stages of their academic careers.
Edtech is one such famous example in today’s society, where acronyms keep getting shorter and new phrases are invented on a daily basis. It’s amazing to think that only a decade ago, the vast majority of the people had never heard of this word, and now everyone wants to be a part of it. This is a direct result of technological advancement. Edtech refers to Education Technology that revolves around online and digital classrooms and courses for the uninitiated.
In fact, prestigious world-class colleges have begun to award major degrees purely through the medium of online education. This is a significant shift from the traditional model of education, in which the curriculum is carved in stone and students are required to attend college at specific times and locations. Students nowadays have the option of picking whatever they want to learn, as well as flexible schedules for when they want to study and, finally, where they want to study it from.
The need to stay indoors while waiting for this horrifying pandemic to reach its climax has necessitated such vast revolutionary efforts. If there is one thing we can take away from this unique period in history, it is that anything can be done easily from the comfort of your own home with the help of technology.
This has incubated Edtech companies that have achieved the Unicorn (companies worth $1 Billion) status within a brief passage of time. India has seen a mammoth growth in this space in a matter of half a decade. Edtech giants like Byju’s, Unacademy, UpGrad, Toppr, Vedantu, Udemy, etc. have seen unparalleled growth due to huge demand to fulfill the educational needs of students at various stages of their academic careers. Resultantly, this sector has seen an unprecedented flow of investments from across the globe.
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Investing in Edtech Companies
Investors are born with the ability to seize opportunities. Big investors from all over the world pounced at the chance to ride the wave of a tremendous financial boom in this newly-born industry, realising the potential of this massive pandora’s box that was about to open. Also, it’s plain to see that this wasn’t a one-off bull run. People have matured enough to recognise that this kind of education is a viable business in today’s fast-paced environment. If you invest in the proper company, the business will almost certainly continue indefinitely.
Investment corporations from the United States, Europe, and China are among the first to pour money into India’s Edtech startup ecosystem. These companies were involved from the beginning, and as a result, these Edtech companies have amassed incredible net worth in a short period of time. The central government is also working on legislation to help Indian entrepreneurs and make it simpler for Indians to invest in them. The potential there is incomprehensible, and if you want to continue to reap the benefits of being an early bird, you must have your investments ready.
Edtech Startups’ Importance
People have understood that education has gone through a metamorphosis to which it is nearly difficult to return. Even once schools, universities, and other educational institutions reopen, the trend of online education will continue to grow in popularity. The simple explanation for this is that one may enrol in whatever course he or she wants, regardless of where on the planet it is located, and learn various topics from the comfort of one’s own home.
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