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Ongoing transformation

In the 21st century, EdTech is disrupting the traditional educational and training systems. Buzzwords like Artificial Intelligence (AI), Virtual Reality (VR), and Blockchain are no more just buzzwords but are now becoming inevitabilities in India’s education ecosystem. The traditional way of ‘Chalk and Talk’ learning is paving the way for App based interactive learning between online student and professional communities. The challenge now is to ensure that the smart form of learning is balanced with the competencies in critical thinking and creativity, or values such as grit and empathy through online learning, ensuring relevance with changing times.

 

Expectation and Research outcomes

As per the National Education Policy Relevant skills and employability is crucial among young graduates, who are the bulwark of a competitive workforce, which in turn is the backbone of a competitive economy.  Particularly with regard to employment and employability focused Edtech companies, the “India Skills Report” outlines that in addition to the basic aptitude employers prefer candidates who have better communication skills and are ready to learn and adapt to changing business environments. EdTech companies must focus on imparting these soft skills, in addition to the regular content and assessments. This will help provide the required skill set for the workforce of the future to succeed.

 

Recommendation and Way forward

Interestingly, the existence of cheapest data rates is enabling India in harnessing its full Edtech potential. As a result, while over 80% students in the addressable market are aware about Edtech, 60% of them are willing to pay for the Edtech products. The companies should focus on creating a cognitive learning approach than just academic learning. Companies should also find solutions for reaching out to the non-metro user base in their respective vernacular content.  Along with this, in order to ensure the overall economic success, Edtech companies should also focus on the bottom-lines by keep their sales costs low, by driving efficient digital value based sales in order to both grow more rapidly and have better unit economics than the conventional ‘feet on street’ Sales model, which is now being bolstered with the ‘feel on screen’ model.

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