Good Edtech Firms Will Grow On the Other Side Of Crisis: Byju Raveendran
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Founder of Byju’s—world second-most valued edtech company—Byju Raveendran on Thursday said the biggest challenge that his company faced was to create awareness about the benefits of online learning. Raveendran, who founded Byju in 2011, said it took a crisis (pandemic) for all the stakeholders in the education sector to try online learning.
Stressing on the importance of online learning, he said India, a country obsessed with spoon feeding (forceful learning), learning online which is primarily self learning is a good change.
“Maybe for the first time in 100 years our classrooms will change,” Raveedran noted while speaking at TiEcon Delhi – NCR By leveraging technology and providing interactive learning experience, he said his company is trying to increase the number of active learners. “The 21st century is not about who can read and write, but about those who can learn, unlearn and relearn.”
He said physical classrooms post the vaccination drive should not be shut as online learning can help students with subjects such as math and science, but classrooms will teach them real life skills/social skills which are equally crucial. He called for a blended learning format where online and offline learning will complement each other.
“In terms of technology and its intervention in education, these are very early days. Education is a very important sector. It is still the only way most of us can make it big and move up the social strata. But it is one of the sectors which is grossly underinvested and neglected by almost everybody,” Raveendran added.
He further said good ed-tech companies will continue to grow on the other side of the crisis.
Edtech companies across the world took advantage of the pandemic as all educational institutes continued to remain shut. Despite this, it is to be noted that there is not a single $100 billion valued edtech company.
The 2018-turned unicorn founder said today is the golden age for teachers as they can teach from anywhere and make an impact in any part of the world.
“Today, due to the accelerated pace of digitisation in education, re-entering the workforce is no longer a challenge for women and therefore, we feel that we are creating new teachers for the world. India has a huge talent pool waiting to be tapped into,” he added.
On being asked about future goals, Raveendran said, “I will be happy to play a small role in defining the online schools of tomorrow.”