Indian Market For Edupreneurs
This sector has much more to offer, investors, too look for ideas that go back to the basics and define imparting knowledge innovatively
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We have entered the era of "education revolution". Education in India is not only promising w.r.t. business, but also accepted as a ladder to long-term success and credibility in the society. Even though the current education landscape may require innovations and a better purpose, we can't deny the fact that it has seen a drastic development in the past few years.
The current education market is filled with innovative ideas and well-defined goals and purposes that match with the expectations of the public. However, what is still laid back, is trusting the idea. People still have a pre-conceived notion that education is all about money-making. In other words, the term "world-class education" doesn't match with "effective education" for them. No matter how technologically advanced education becomes, the very basic purpose of knowledge gets sidelined, which makes the education market "a rat-race'.
Let's look at the education market in more detail. Apparently, we have the largest school-going population in the world, however, we lack behind on the available resources. Which means that not every individual get through the opportunity of higher education (only 1 out of 5 opt for it). Also, the reason why people hesitate to go for higher education in India is competition within the institutions to prove themselves to be the best. In short, the market is increasing quantity-wise, but not quality-wise.
And we have some budding edupreneurs, willing to make a difference in the education sector. However, at times, they do fail to invest their resources in quality, and often get trapped in the rat-race. But we still need edupreneurs to bring in disruption in the current education scenario.
The focus areas of strategizing for edupreneurs in this regard are as below:
For your idea to be more effective w.r.t. ROI and knowledge, a right platform for the right audience are very crucial. For schools, learning through only online sources could hamper their overall personality development, as it's their growing age, and they have to be catered accordingly. In such cases, edupreneurs should focus on the right collaboration of the audience with the type of knowledge. For example, Google has started to offer Digital Marketing and SEO training through its dedicated online platform.
Education without meaning is no education. However good a platform is, if there is no purpose and fruitfulness out of it, it stands void. Edupreneurs must realize the fact that an education business can flourish only if someone imbibes upfront knowledge about things that are being offered.
This is very crucial. Innovation doesn't come by developing a new institution as the others. Edupreneurs have come up with activity-based education to impart knowledge, and it has been an effective method so far. We see Management colleges coming up in full pace. However, a management institution will hold no importance if it doesn't have something different and unique to offer. An edupreneur must realize that it's not necessary to think out-of-the-box, but think without even considering the box.
Knowing that this sector has much more to offer, investors, too look for ideas that goes back to the basics and define imparting knowledge innovatively. Edupreneurs should keep in mind, the right match between right purposes with right ways to make people accept education as a "medium of knowledge". And yes, there are edupreneurs going just the right way, with full dedication, and good results.
The current education market is promising, however, if resources and ideas are deployed to the better purpose of education, edupreneurs are sure to see the light of their day in this sector.