Digital Collaboration: A Definite Trend Of Edtech Space Post Pandemic
The demographics of consumers such as age group or socioeconomic factors will influence the future of edtech space
Considering some of the trends in the edtech space such as live tutoring classes, online training in the K12 space, upskilling or higher education receiving majority of funds, it is likely that the sector will transform significantly after the pandemic.
Edtech is a vast segment with numerous white spaces, or areas to be explored. Similarly, skilling is another sector, wherein upgradation after obtaining a degree has been much sought after. According to Ravi Kaushik, partner, WaterBridge Ventures, these are the two areas of edtech which will have more opportunities in the post pandemic phase.
Tech upskilling programmes conducted during COVID-19 for graduates have played a vital role in grooming candidates with interesting payment models. Anirudh Damani, managing partner, Artha Venture Fund says, he would like to invest in the finance segment as it is the huge space.
Coding initiatives and forecast
WhiteHat Junior has played an active played role towards changing behaviour of the market. According to Karan Mohla, partner, Chiratae Ventures, this might not be a green shoot, but a wave of awareness to encourage people to upskill and learn will be needed. Be it school curriculum or extracurricular learning, coding is relevant in the current market space.
Promotion of digitalization through rural education
There isn’t any one-size-fits-all approach in the edtech segment due to its diverse nature. The equal scope of opportunities is available to attain the goals of the sector. Namita Dalmia, director-investment, Omidyar Network, points out that distribution will become a key factor to support innovative mechanism. Thus, depending on the situation, the role of gram panchayat or other influencers will be decided.
Early learning is not limited to live learning, but also includes multiple models ranging from recorded content and marketplace model to holistic learning platforms. Dalmia clarified, it is the lack of skills which needs intervention.
Transition of edtech startups as institutions
Furthermore, the skill scale will be determined by the strategy offered and the art of startup community to grab that mindshare as well as the market share. It will in turn lead to the emergence of generic and specialist edtech players further leading to extreme urbanisation. As a result, the opportunities will increase in a phenomenal way.
Most of all, the distinction between the skilling for employability and entrepreneurship will trigger the next level of market explosion in the edtech segment. Dalmia added that the need of modular services and right modular offerings should be realized at present. In fact, unbundling in terms of price point has to be assessed as well to deal with different types of requisites. Damani quipped that it is crucial to groom workers through specific programmes to suffice to the need for an organization during graduation. This will in turn ensure that soon after the graduation, an individual can join the company.
Digital collaboration vs. digital divide
The demographics of consumers such as age group or socioeconomic factors can influence the future of edtech space. Nevertheless, elements of digital collaboration between the online and offline world can be witnessed. Mohla shared when an edtech platform becomes the primary mode of the user’s objective such as learning or upskilling, most of the offerings turn out to be mainstream. This phase denotes digital divide, but, without the digital intervention, India may have limitations in the ultimate offerings in edtech sphere.
Apart from this, collaboration in the industry has grown by and large, wherein 90 per cent of the students hail from tier II, III and IV cities.
The new normal of edtech segment
All the trends or changes which may have been attained in the next 5-7 years’ time will be preponed due to the pandemic. Therefore, in the post pandemic world, it will be more of bouncing forward than the bounce back phenomenon, according to Damani. Technology has played a vital role in enhancing new skills and adoption of ways of sustenance in the past 6 months. In the new normal, the likelihood of imparting tech-oriented education will be high.