#edtech
EdTech taking centerstage
The Indian edtech industry will achieve a size of $30 billion over the next decade, a 40-fold jump from its current size of $700-800 million. India has the world’s largest population of school-going children – 265 million. That number will rise substantially if higher education is thrown into the mix. With schools and colleges shut because of the coronavirus outbreak, online education companies are stepping in to fill the breach. It’s an opportunity worth billions. Albert Einstein, once said: “In the midst of every crisis, lies great opportunity.” Since then, this has become an often-repeated idiom across management classes, textbooks, corner offices and boardrooms around the world.
When the Covid-19 pandemic led to the world’s most stringent nationwide lockdown in India last year, followed by lesser state-specific and local lockdowns in 2021, created an economic crisis across various industry segments, the online education (edtech) sector sensed the opportunity. With schools and colleges shut and exam schedules gone awry, edtech start-ups found their moment under the sun. Offering services like kindergarten to Class 12 (K-12) coaching modules and online coding classes as well as more niche learning programmes, these start-ups attracted millions of new subscribers and billions of dollars in fresh funding. As the Start-ups get millions of subscribers, billions in funding, Firms like Byju’s, Unacademy and UpGrad have emerged as global leaders in this space. The valuations of the edtech companies soaring by the day, these start-ups could offer investors who enter them now huge upside potential in the years to come.
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#edtech
EdTech taking centerstage
The Indian edtech industry will achieve a size of $30 billion over the next decade, a 40-fold jump from its current size of $700-800 million. India has the world’s largest population of school-going children – 265 million. That number will rise substantially if higher education is thrown into the mix. With schools and colleges shut because of the coronavirus outbreak, online education companies are stepping in to fill the breach. It’s an opportunity worth billions. Albert Einstein, once said: “In the midst of every crisis, lies great opportunity.” Since then, this has become an often-repeated idiom across management classes, textbooks, corner offices and boardrooms around the world.
When the Covid-19 pandemic led to the world’s most stringent nationwide lockdown in India last year, followed by lesser state-specific and local lockdowns in 2021, created an economic crisis across various industry segments, the online education (edtech) sector sensed the opportunity. With schools and colleges shut and exam schedules gone awry, edtech start-ups found their moment under the sun. Offering services like kindergarten to Class 12 (K-12) coaching modules and online coding classes as well as more niche learning programmes, these start-ups attracted millions of new subscribers and billions of dollars in fresh funding. As the Start-ups get millions of subscribers, billions in funding, Firms like Byju’s, Unacademy and UpGrad have emerged as global leaders in this space. The valuations of the edtech companies soaring by the day, these start-ups could offer investors who enter them now huge upside potential in the years to come.
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Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool
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India - world's 3rd largest unicorn
Number of Unicorns in the USA and China is at 396 and 277 respectively while India follows at number three with 51 unicorns. UK is number 4 position with 32 unicorns and Germany at 5th spot with 18. The Hurun Research Institute released the report ,Hurun India Future Unicorn List 2021, and ranked of India’s start-ups founded in the 2000s, worth at least $200mn, not yet listed on a public exchange and most likely to ‘go unicorn’ within 2 years (Gazelles) or 4 years (Cheetahs). India is the third-largest unicorn ecosystem in the world with 51 startups that are valued at $1 billion or above. The USA is the world's largest unicorn ecosystem with 396 unicorns, followed by China with 277 unicorns. Over the last year, India added three unicorns every month on an average, Hurun said. India’s future unicorns are worth $36 billion, which is equivalent to one-third of Delhi’s GDP at current prices.
With 18 startups on the list, fintech contributed the most number of companies, followed by e-commerce (17), SaaS (7), shared economy (6), gaming, artificial intelligence, logistics and healthtech with 4 companies each, and 3 each for media and entertainment, edtech and consumer goods. When it comes to cities, Bengaluru contributed the most number of companies at 31, followed by Mumbai 13, Gurugram 12, Delhi 5 and Noida 5. Zilingo, Mamaearth, MobiKwik, Ecom Express, Acko General Insurance are the top-most companies on the Hurun unicorn list that are run by women. Sequoia has invested in the most number of companies on the list at 37, including Zilingo, Mobile Premier League, Rebel Foods, Mamaearth, followed by Tiger Global Management at 18, including GreyOrange, Vedantu, Apna. InnoVen Capital has invested in 17 companies, Accel in 13 companies and Trifecta Capital Advisors in 12 companies. The year 2021 also registered start-up IPOs and IPOs present exit oppor
Technology video | 96 views
Experts talking about Startups, the Bubble Is About to Burst | Ecosystem | VARINDIA News Hour
India is amongst the top five #startup ecosystems in the world. According to the India Venture Capital Report 2021 published by Bain and Company, the number of cumulative start-ups has grown at a CAGR of 17 per cent since 2012 and crossed 1,12,000 by December 31, 2021. Start-ups have emerged as key drivers of economic growth and job creation, and are often a catalyst for radical innovation. Now India is home to 79 unicorns, with a total valuation of $260.5 billion, which makes it the third largest after the US and China. Out of the total, 42 unicorns with a total valuation of $82.1 billion emerged in 2021 alone, a record year for the country. Startup valuations are rising thanks to ample capital availability, limited investments with strong yield and related issues. Startups have created immense value for founders and investors alike. The accelerated development of the start-up ecosystem needs significant funding and therefore the role of venture capital and angel investors are critical. There are 32 start-ups founded after the year 2000 and have the potential to turn into unicorns in two years and 54 Cheetahs - potential unicorns in four years.
It is also true that a few highly successful start-ups with astronomical valuations and a few spectacular failures get discussed disproportionately creating the perception of a funding or valuation bubble. Overall, the venture capital asset class has done well for its investors who understand and provide for the high-risk nature of these investments. India has emerged as one of the world's top hubs for startups. With large-scale support from investors and the government, a large number of startups have gone on to become unicorns. However, volatility in the market amid rising geopolitical tensions and the ongoing pandemic has dented the growth of startups. One 97 Communications (Paytm), FSN E-Commerce (Nykaa),
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India has emerged as the third largest startup ecosystem in the world after the US and China and the pace of growth is not showing any signs of slowing down.
The Centre is making efforts to connect Indian startups with the government ecosystem so that its procurement requirements can be met with their innovative solutions, Union Minister of State for Skill Development and Entrepreneurship Rajeev Chandrasekhar said. The government is working to soon establish an institutional framework for Digital India Startup Hub to further promote the startup ecosystem in the country. Soon Digital India Startup Hub, an institutional framework, shall be established to further promote the startup ecosystem and centrally coordinate startup initiatives at the national level. The government is making efforts to connect startups with its ecosystem so that the government's procurement requirements can be met with innovative solutions by startups. The minister highlighted the importance of learning digital skills for India's expanding digital economy. Inspiring students and Startups to acquire skills in emerging technologies & highlighting the importance of learning Digital Skills for India’s expanding Digital Economy, he added “Innovation is the mantra going forward. Innovation is going to drive our future.
Going forward, Startups will be encouraged to develop solutions aligned to tracks such as creditisation, digitisation, and any market-led solution that can help solve a problem relevant to IPPB or DoP in serving the target customers. Startups in India are turning out to be a powerful vehicle to fulfil the dreams of the common Indian youth. Today, the Indian startup ecosystem is respected all over the world and we are today among the top three startup ecosystems in the world. “Our startups and entrepreneurs will drive the Indian economy towards USD 5 trillion and the Digital Economy towards USD 1 trillion,' said Chandrasekhar, who is also the Minist
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Plans to actively create robust ecosystem in Goa for startups & entrepreneurship: Rajeev Chandrashekar
Plans to actively create robust ecosystem in Goa for startups & entrepreneurship: Chandrashekar
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#crypto #blockchain #startup
Crypto Vs Blockchain Startup
There are many Indian companies working actively in the crypto space. India's crypto industry attracts foreign funds, but local investors remain wary. Cryptocurrency has seen tremendous growth in the last one year and from a consumer and technology standpoint, India is an important destination for cryptos. The venture capital companies including Sequoia Capital India, Lightspeed India, Elevation Capital and others are warming up to India’s cryptocurrency and blockchain industry. Several international funds such as Pantera Capital and Coinbase Ventures, and entrepreneur investors like Mark Cuban, have been investing in blockchain and crypto startups founded by Indians.
The absence of regulatory approval and the possibility of a blanket ban has, however, kept most Indian funds at bay, despite the heightened interest in crypto and blockchain. Despite the regulatory uncertainty and the volatility of cryptocurrencies, Indian start-ups in the space saw funding grow 73% in the first six months of calendar 2021 compared to the whole of 2020.Total funding year-to-date in 2021 stood at $50.03 million against the $28.85 million raised by cryptocurrency-based start-ups in 2020, according to data from Tracxn. A report says, the lockdown in 2020 had led to increased activity in the cryptocurrency market as retail and institutional investors turned to this investment avenue as volatility hit the stock market. Blockchain faces hurdles, including volatility in cryptocurrency pricing and confusion and misunderstanding from many consumers about the technology and related financial services, experts say.
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The last 2 years of lockdown have rapidly accelerated the growth of digital learning, as students worldwide switched to online lessons, homework and exams. The Covid-19 pandemic has set off a golden era for India’s ed-tech startups, which has also brutally exposed the huge digital divide that’s deprived countless millions of access to education. Spending on technology products (including personal computers, smartphones, tablets, wearables) is set to increase in 2022 also. Digital learning has an incredible potential to increase access to education for students of all ages, especially those in more remote areas. When you’re online, it doesn’t matter if you’re a boy or a girl, wealthy or poor, urban or rural: you receive the same quality of teaching, which should promote greater equity. India’s National Education Policy (NEP) 2020, for example, has a range of ambitious goals to expand digital teaching and learning, which, along with the rise of ‘EdTech’ companies, aims to make technology a central part of schools, universities and other institutions. There are especially exciting possibilities for more personalized learning based upon individual needs, including greater vernacular content suited to students from different regions. At the same time, a survey in India says that more than 82 percent of students had forgotten basic mathematics and over 92 percent had lost their core language skills during COVID-19.
Edtech has made education and learning more interactive and accessible with the help of technology. There is growth and opportunity in augmented and virtual (AR/VR) technology and education. And this is primarily for K-12 and universities because it allows for immersive types of digital platforms and classrooms for educators and universities to build communities virtually and digitally. And it helps bridge opportunity gaps or gaps in how their students learn or access opportunities that they would not normally have. So it is expected that it is going t
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Two of the most prominent educational figures in India take part in a healthy debate regarding Edtech Hybrid models: Vineet Gupta, founder of Ashoka and Plaksha University, and Manish Upadhyay, Co-founder of LIQVID and an education consultant.
It is very much real, according to Vineet Gupta. When the pandemic began, start-ups such as Vedantu, BYJU's, Unacademy and many more began getting crazy valuations, suddenly they became the center stage in the education sector. It was the only option for the children to remain competent in the real world but to switch to online education. As a matter of fact, even parents scrambled for the best possible solutions for their children, but also professionals who were laid off or worried about their jobs sought new courses and certifications. As a result, there has been a surge in demand for educational technology services, and the Indian edtech sector has emerged as a major driver of growth.
After the pandemic, education centers began opening again, but startups relying heavily or entirely on the digital medium suffered. With predatory practices, misrepresentation, and rising consumer complaints, edtech platforms are now at risk of regulatory oversight, further complicating things for edtech companies. Already in 2022, Udayy, SuperLearn, and Crejo.Fun have shut down as they heavily relied on “online-only” teaching methods and could not adjust with the behavioral change post pandemic.
Thus, the Edtech Hybrid model of education became a reality. In response to this, some players took calculated measures to establish their physical presence as well, such as Unacademy opening up centers in Kota and BYJU taking over the Aakash Institute. 'The race for hybrid models in education has begun, and those with established brand names, solid physical presences, and great digital infrastructure are well positioned to make the most of this upcoming phase,' says Vineet Gupta, founder of Ashoka and Plaks
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The country has witnessed growth in the IT sector and a shift towards education, with more than 4,500 EdTech startups have been launched in India to cater the needs of around 300 million students in the country. The sector got a much-needed push due to digital adoption; close to half a billion internet and smartphone users contributed to it.
The lockdown and fear of COVID-19 spread has taken schools, colleges, and educational institutes online, thus leading to the emergence of many EdTech products and services and a rise in adoption.
Today's Headline in News Hours
0:00 Intro
00:47# India's EdTech sector experienced a watershed moment during the pandemic.
01:32 India's EdTech industry faces challenges as traditional tuition centers reopen
02:14# EdTech industry faces challenges due to economic uncertainties
02:59 #Delhi Metro introduces mobile app for QR tickets
03:44 #Karnataka High Court fines Twitter for not complying with government's order
04:28 #Byju's faces board member resignations while Akash acquires 20% ownership
05:15 #Google and #Facebook to block news in Canada over new law
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