The Indian Ed Tech Sector Opens Scope For 10 Unicorns

Every year is often referred to as the year of education but not much seems to happen. With various technological advancements, the face of education shall soon undergo a change. On observing the year 2018 closely, we will realise that the year was a great one for the ed tech in India. A large number of investors and businessmen have pitched into the field of education.

The total funding has crossed around 500 $ million in the field of education. A lot of companies have crossed the 100 and 1000 crore revenue benchmark. It has been seen that the early stage start ups are seeing a lot of traction across various sectors from K-12 (kindergarten to class 12^th) to test preparation to higher education and professional education. The lacunas and the inefficiencies in the education system provide a wonderful opportunity for the market players to pitch into the field of education and make an effective difference. As per statistics, the K-12 segment enrols most 250 million learners each year in India and as we all know that the quality of education in India is not so great, it leaves an opportunity for start ups and business like Byjus, Toppr and Vedantu to take the lead. Beyond these specific large segments, a large number of companies are looking at creating an influential position in their own right, from pre-kindergarten education to career counselling to overseas education. Especially in the professional education space, there is a strong push by providers to focus on jobs and career outcomes. In India, government jobs are considered to be the safest and the best form of job, resultantly 100s of applicants apply each year for these jobs. A lot of companies are planning to capture this area such as OnlineTyaari, Testbook etc. Some of the clear themes that have come up in the ed tech sector are as follows:

(i) There is a shift from content access to outcomes. The companies have started focussing strongly on providing clear results for the learners. These days in the professional education space, most of the focus is on jobs and career outcomes.

(ii) There is a strong push for emphasing upon creating a stronger distribution along with mass media awareness. Some of the amazing examples of home to home counselling approach are Byju’s and Toppr etc.

(iii) Education has soon become a persistent process which keeps going on in one’s life. It is no longer an event.

(iv) In Education everything is about pricing. Yes this is slowly becoming true. Be it education at any level, the costs being charged are high and exorbitant.

Hence, 2018 can be said to be a wonderful year for large number of ed techs that have made a prominent place for themselves in the education sector in India.

By: Anuja Arora

Content: https://techcircle.vccircle.com/2018/12/31/why-the-indian-ed-tech-sector-has-scope-for-at-least-10-unicorns