Education Technology or EdTech has made significant contributions to the advancement of education over the past few decades and has had a significant impact on Indian schooling. In its subsequent national education programmes, the Indian government has placed the proper emphasis on educational technology (ET).
The Covid-19 pandemic has expedited this online learning and given rise to multiple EdTech start-ups in India and around the world. Up until 2019, Edtech had struggled to garner significant finance. These EdTech businesses had been around for almost two decades and offered a bright future for education. Millions of people who live in Asian countries are thought to benefit most directly from education in terms of prosperity. But for a very long time, the main method of delivery remained mostly unchanged.
EdTech Adoption in Post Covid-19 Pandemic:
For the first time, a lot of schools and higher education institutions moved their educational operations to the internet realm. One cannot, however, claim that the transition from offline to online mode was seamless because none of the stakeholders, including instructors, students, and staff, received any training on how to use their new process delivery tools. To better understand their students using the technologies at their disposal, many educators tried to duplicate the classrooms and laboratories.
Numerous institutions have been making significant investments in technology-driven procedures, including hardware, software, and training to create online and hybrid modes that will increase effectiveness and solve the accessibility problems in education for remote locations. Once the students or learners return to the campuses, there is a need for the integration of classrooms, seminars, and conference rooms with Edtech based services in order to augment and support modern teaching.
a) Digitize information by converting it from its physical form into digital form.
b) Sort information using the proper vertical conversions.
c) Automating the process with the aid of digital tools and institutional mechanisms, or by hiring an EdTech firm.
d) Simplifying the procedure, which includes testing.
e) Finally, modernise the instructional facility.
The last phase can only be accomplished through a series of strategic steps/processes, a collaborative workplace culture, and a change to a new operating and business model for value proposition that is powered by digital technology. The World Bank is the major source of funding for more than 80 poor or underprivileged nations worldwide. In its report, the organisation states that “many countries are now considering a dual role for remote learning: as an insurance policy against future calamities, especially in a world experiencing climate change, as well as a way to reach out to schoolchildren and provide a lifelong education to all citizens.”
EdTech Market
The dynamic EdTech market and its many stakeholders, including vendors, technology platform providers, content developers, teachers, students, institutions as consumers, investors, regulators, and governments, have made the sector more complex. With major firms like Byju’s and small start-ups trying their luck in India, the EdTech sector is diversified. The need is continually fuelled by the accessibility of low-cost internet connections with adequate bandwidth through digital platforms. These EdTech firms made claims about providing simple access to high-quality education at a low price.
While wreaking havoc on people’s lives, the COVID-19 epidemic also laid the foundation for the digital learning model in the field of education.
The importance of these EdTech enterprises is expanding daily, especially in the wake of the COVID-19 pandemic, in the ever-expanding digital realm in the education sector. To increase outreach and boost the gross enrolment ratio (GER) in schools, colleges, and universities, the governments and their regulators have been waiting for a long time to bring large-scale technical breakthroughs through education technology. In order to evaluate the investments made in the education sector, they wish to modify the teaching-learning process in the sector.
The unanticipated surge in EdTech following COVID-19 presented a number of difficulties for the stakeholders, including students, instructors, administrators, governments, and employers, in the admissions process, access to physical books, and in-person interactions with teachers and their peer groups. However, the EdTech firms rapidly intervened at the beginning of remote learning. They offered online solutions by working cooperatively with the schools to provide digital content, proctored exams, and online admissions tests.
Key Drivers of EdTech Industry
Exponential growth of internet penetration: According to the Annual Status of Education Report (ASER) 2020, smartphone ownership among families with students enrolled in public schools increased from 30% in 2018 to 56% in 2020, while it increased from 50% to 74% among those enrolled in private schools.
The Indian EdTech sector is being driven by government efforts: Due to growing government interest, it is anticipated that the Indian EdTech industry would become more policy-friendly in the next years.
Technological Change: Adoption of cutting-edge technologies like artificial intelligence (AI), machine learning (ML), augmented reality (AR), and virtual reality (VR) will give teachers useful tools and platforms to ensure effective in-class learning.
Income available for discretion: A rise in consumer disposable income is likely to boost consumers’ willingness to spend money on leisure activities and intellectual pursuits, especially those in quintile 5.
Local first strategy: The major EdTech providers adopted vernacular languages and took into account regional differences while putting solutions into practise. Despite its global outlook, this industry has been successful in leveraging both India’s demographic dividend and the price elasticity of Indian consumers for high-quality education.
Potential Benefits of the Edtech Sector
Customised learning for learners of all backgrounds: AI-enabled systems can assist in recognising knowledge gaps, comprehending how learners learn, and designing online courses in accordance with each student’s most efficient learning path.
Lifelong learning and professional advancement: By 2030, 140 million people in India are anticipated to be enrolled in colleges. There will likely be a rise in demand from students and professionals across industries for learning new and advanced skills in digital, analytics, automation, and cyber security.
Education Cost: EdTech platforms have the ability to provide adaptable learning models at various price points that are appropriate for a student’s socio-economic background and particular demands.
Contribution Economy: According to KPMG, online certification programmes and test prep will continue to make up a sizeable chunk of India’s online education sector, which is anticipated to reach $1.96 billion in revenue in 2021.
Production of jobs: “The back office saw increased demand, particularly for software engineers, support staff, teachers, content writers, and marketing specialists. The experience brackets with the most demand are 3-5 years and 6-10 years, respectively “explained Yadav.
Now let’s have a look at the Top 10 Best EdTech Companies in India in 2023 –
1. Byju’s
The Think and Learn Pvt. Ltd. company, formed in 2011 by Byju Raveendran and Divya Gokulnath, produced the BYJU app. It began as a coaching class and has now developed into one of the top EdTech companies in the world.
The free content on BYJU’S, an educational tutoring programme that uses a freemium business model, is only available for 15 days after registration. It was founded in August 2015 and offers instructional materials for students in grades 4 through 12. An early learning programme for students in classes 1 through 3 started in 2019.
The goal of Byju’s is to make learning fun for students through interactions and 3D learning sessions. This is one of the top providers of customised learning programmes in the EdTech industry. At Byju’s, students can sharpen their skills and learn from the top instructors in India. They achieved this edge by making their software user-friendly for students and restructuring their curriculum to accommodate pupils who study at home. Despite starting with math and science lessons for middle school students, they have expanded to encompass new target audiences.
Byju’s Early preschool lessons were introduced in conjunction with Disney, and customised JEE and NEET study materials were introduced in partnership with Aakash Institute. They also supply IAS training programmes. As a result, Byju’s is currently ranked first among EdTech businesses in India.
2. UnAcademy
In 2010, Hemesh Singh launched UnAcademy as a YouTube channel. This EdTech startup is now well-known in India’s educational technology sector. One of the leading EdTech businesses in India, it is a well-known e-learning platform. UnAcademy has so far provided education to over 30,00,000 students. It has teamed up with some of the most experienced teachers to give its pupils tutoring. On UnAcademy, there are more than a thousand online courses offered. The majority of the courses on this website are free, but certifications could be pricey.
UnAcademy aims to provide instruction on every conceivable topic in a variety of languages. A wide range of sectors have also been added to its scope, including pre-medical, banking, CAPF, CA, UPSC, CAT, CLAT, and others. Watching the available video tutorials, which are available in a variety of languages, allows students to follow teachers and receive direct guidance from them. The platform’s subscription option is the core tenet of UnAcademy’s business plan.
3. Vedantu
Vedantu, a platform for live online education, was established in Bengaluru in 2011. The Sanskrit terms Veda (knowledge) and Tantu are the origin of the word Vedantu (network). The company was founded by Vamsi Krishna, Saurabh Saxena, Anand Prakash, and Pulkit Jain.
It offers kids individualised instruction. It primarily benefits students taking the Indian Certificate of Secondary Education (ICSE) or Central Board of Secondary Education in Grades 4 through 12.
Live online tutoring in STEM, Hindi, English, Sanskrit, German, French, environmental science, and social science is currently the organization’s main line of business. It uses the White Board Audio Video Environment (WAVE) method for their one-to-one student-teacher lesson as well as in live sessions. It offers classes for the IIT-JEE, NTSE, NEET, and PSA test preparation.
Vedantu’s W.A.V.E platform, which helps teachers identify a student’s attention level, boosts students’ engagement, encourages them to solve problems and participate in game-based quizzes, and provides adaptable teaching methods, has received an IP Patent for “Measuring the Effectiveness of An Interactive Online Learning System” as a result of ongoing reviews.
4. UpGrad
One of India’s top EdTech startups is UpGrad. In 2015, Mayank Kumar, Phalgun Kompalli, Ronnie Screwvala, and Ravijot Chugh launched the company. The company is the Indian government’s recognised partner in education for the Startup India Program.
The EdTech organisation provides data science and online training in IT, management, and technology to working people, college students, and enterprises. UpGrad gives students the opportunity to learn skills that will boost their professions through partnerships with numerous prestigious universities. They are also India’s #1 provider of online higher education and assist students in obtaining degrees from the best universities in the globe. They stand out due to their individualised coaching and placement assistance. They offer MBA programmes in a variety of topic areas, including blockchain, insurance, business, and law.
In 2016, UpGrad purchased Pyoopil, a mobile Software as a Service platform, to offer B2B online corporate training programmes. An Indian EdTech company called UpGrad acquired Acadview in 2018 to expand into the higher education market for college students. In 2019, UpGrad purchased CohortPlus, an online community platform with a focus on data analytics and product management.
5. Embibe
Indian EdTech company Embibe was established in 2012 in Mumbai. Aditi Avasthi is the inventor, and Reliance Industries Ltd. is funding it. It was developed to offer pupils specialised support. Embibe has a freemium business model, therefore all of its educational materials are offered without cost; only customised feedback is subject to a price.
The largest educational enterprise using artificial intelligence (AI) is called Embibe. Embibe uses artificial intelligence and data analytics to give students personalised feedback. It enables students to pinpoint their weak areas and knowledge gaps while also assisting them in strengthening their test-taking techniques. It is designed for students who are preparing for competitive exams like the JEE, the NEET, and exams for government positions.
Since its inception, it has been actively working to address the problems brought on by the universal application of standardised education to a hugely broad range of pupils with a wide range of aptitude and ability that affect learning. Its application offers individualised, in-depth analytics, suggestions for improving scores, and guided practise.
The original team members of the organisation had the goal of developing a flexible, self-updating programme based on the basics of how learning functions in its early stages. They achieved this by creating Embibe’s unique Knowledge Graph, which was created over time by figuring out how the human brain actually learns using a machine learning technique.
6. Classplus
With the use of a single teaching software called Classplus, coaching organisations, tuition centres, and independent tutors may automate the distribution of information, payments, interactions, and online tests for their clients. Mukul Rustagi, Vatsal Rustagi, Bikash Dash, Nikhil Goel, and Bhaswat Agarwal formed Classplus.
For private tutors, tuition centres, and coaching institutes, Classplus provides the ideal management software and mobile app solution. Teaching and learning approaches now combine cutting-edge features and technology, preparing educators for the future.
“Aapki Coaching, Aapki App,” the slogan of Classplus, aims to connect all tutoring centres, tuition services, and individual tutors online and enable them to become India’s top educators with their very own app.
This firm, founded in Delhi in 2018, aims to modernise the nation’s education industry. Teachers can communicate with students using Classplus, a mobile-first solution, by giving them information, assignments, online tests, and video lectures. Due to its automated payments and straightforward coaching, Classplus has seen a 200K+ increase in subscribers.
7. EduKart
An online platform called EduKart, an EdTech company in India, strives to give students a better education. India’s EduKart is a website for enrolling in higher education. The business was formed in 2011 by Mayank and Ishan Gupta.
From local and foreign universities, including NMIMS, the Indian School of Business, and the London School of Business, EduKart provides MBA, Executive MBA, MCA, MSc IT, MA, MCom, BA, BCom, BBA, BCA, and BSc IT programmes. The degrees awarded through this platform are recognised by all significant educational institutions, including India’s UGC.
Additionally, EduKart helps students find employment. Indian and foreign course providers offer MBA, Executive MBA, and BSc IT programmes on the corporate platform. Both online learning and distance learning are available.
Other certificate programmes are available in information technology, banking, programming, project management, internet marketing, and retail. Through this platform, prestigious universities from around the globe provide online degrees, certificates, and certifications.
8. CueMath
In 2013, an after-school enrichment programme for mathematics gave birth to the ed-tech business CueMath. They are one of the Indian EdTech businesses that focuses on gamified learning and has altered how math is understood by both teachers and students. It employs the “learning-by-doing” method. Additionally, it aims to instil in schoolchildren a love of math and “out-of-the-box” thinking.
The business was founded by Manan Khurma, a talented author with McGraw Hill publishing. Additionally, CueMath empowers female educators and gives them excellent employment opportunities. About 1200 educators use CueMath. The business has received 5.5 million dollars in round B funding as of 2019.
A programme called CueMath teaches math to kids between the ages of four and fourteen (Kindergarten to Grade 8). This programme was created by the Bengaluru-based mathematics education company Cuelearn Pvt Ltd and is offered at home-based centres all throughout India. According to its website, CueMath had about 5000 teachers and 50,000 students as of October 2019.
The CueMath software aligns with academic standards. Teachers create custom learning plans depending on the state board, foreign board, CBSE, or ICSE. All topics are covered through worksheets, tab-based games, arithmetic, and logic exercises. Cuemath connects everything with a layer of comic characters based on video games.
9. Ekeeda
One of the top EdTech startups in India is called Ekeeda. Their objective is to provide students with specialised technical instruction at any time and from any location. Ekeeda was developed in 2009 in Mumbai by Professor Mahesh Wagh. While still a computer science and engineering student, Mahesh established Ekeeda.
Engineers can learn online through the platform Ekeeda, which is transforming into a career-building ecosystem with the help of a combination of talent and academic resources. Ekeeda links students’ career aspirations with the knowledge and abilities required to carry them out.
They have produced more than 40000 videos covering more than 400 courses, helping more than 1 million students better their careers. Over 40 of India’s top colleges are represented on the website’s courses and video lectures. Ekeeda has received more than 40 million views on YouTube. It has been dubbed the “Google of Engineering” by some. The priority Ekeeda placed on enhancing the client experience was a key differentiator in its success.
10. Doubtnut
An Indian EdTech company called Doubtnut makes learning a language simple. This interactive, multilingual learning tool uses cutting-edge technology to respond to inquiries from pupils. In 2016, Aditya Shankar and Tanushree Gupta established the business in Haryana, India.
An Android app for Doubtnut, an Indian educational programme, can be downloaded through the Google Play Store or the company’s official website. Currently, it responds to queries in 11 Indian languages, which has made it quite well-liked in Tier 2 and Tier 3 cities.
To respond to various mathematical and scientific concerns, the site uses picture recognition technology. You must provide an image of the question in order to get the answer.
If a match is discovered, the user is given the information; if not, they are prompted to pose their question publicly so that platform educators can answer it in a video.
Doubtnut accomplishes this using artificial intelligence techniques including natural language processing (NLP) and image recognition.
What awaits students in the future?
Given that technology may break down regional boundaries, EdTech has the potential to close the learning gap. Teachers desire to keep the incomparable advantages of a traditional classroom arrangement, such peer discussion, one-on-one help from teachers, and providing possibilities for working on group collaborative tasks, even though they are aware that digital adoption is the need of the hour.
A few of the more recent EdTech innovations include on-demand learning, immersive learning, AI and VR, and video-assisted remote learning.
But for this to happen properly, both teachers and students must have the necessary training in order to use the platform tools for simple knowledge transmission. Further technological developments will be gradually incorporated into classrooms as learning demands rise.
Potential for change
The demand for gamified content, live classrooms, online assessments, high-quality resources, improved accessibility, and creative learning approaches has increased in India’s content consumption patterns for online education.
This need has increased as a result of technical developments, and many businesspeople have developed lucrative business models for online education.
Additionally, technology-enabled learning has the potential to effectively close gaps in our current educational system, such as inadequate school infrastructure, teacher absenteeism or availability, inadequate in-service teacher training, lack of accessibility to learning, particularly in remote areas, and numerous other issues.
Therefore, by utilising technology and making learning accessible, affordable, and flexible, EdTech can ease some of these problems. This is giving entrepreneurs numerous opportunities.
With the introduction of satellite-based learning, smart classrooms, and the adoption of school management software by schools, India’s EdTech adventure began in 2004. Online education was first offered by EdTech companies in 2008, marking the beginning of e-learning.
Deeper market penetration was made possible over time by the affordability of cellphones and the availability of the internet. The majority of the Pre-K–12/college learning, exam preparation, upskilling, and technology providers make up India’s current EdTech environment.
The Trends
- India has demonstrated significant growth in the online test preparation market, and as a result of the increased competition, EdTech businesses in the market are providing services at a reduced price.
- Modernising one’s skills is becoming more and more important in technology. Roles requiring skilled professionals, such as data scientists, machine learning specialists, software analysts, etc., have seen tremendous increase. The EdTech industry is assuring that people can train easily by offering short-term courses with online credentials.
- The need for video-driven content is high, which has drawn a lot of players who are producing excellent learning and training materials (including simulations and other visual content).
- The industry benefits from convenience, adaptability, and affordability. People are interested in high-quality material that is also reasonably priced, adaptable, and available whenever and whenever. This has made knowledge and skills more accessible to a bigger populace and helped them bridge different economic categories.
Conclusion
Although the epidemic disrupted daily life, the EdTech industry is undoubtedly positioned to increase its gains.
The government’s agenda of “Education for All” and expanding the quality and scope of both primary and higher education in the country, as defined in the NEP 2020, would both benefit greatly from the growing popularity of digital education and EdTech enterprises. This will assist in igniting the sector’s future growth.
