Education has become expensive in India today. Secondly, the level of competition among students is also increasing rapidly. However, the quality of education imparted in schools, colleges, and universities has not improved in the same proportion. It explains the emergence of Edtech start-ups like Byju’s, EduRev, and others to compensate for the fall in the standard of the overall Indian education sector.
The rise of Edtech start-ups and its benefits to the Indian education sector
There are various reasons for the surge of Edtech start-ups in the Indian education sector. At the same time, we shall also look into the benefits that Edtech start-ups provide to students.
a) The internet revolution
Today, everything is available online. Computer literacy is also at an all-time high in India, with even kids being able to handle computers with ease. The easy availability of internet connections is also one of the significant reasons for the internet revolution. It is natural for the education sector to take advantage of these facilities, thereby enabling the emergence of Edtech start-ups in the Indian education sector. These Edtech start-ups provide quality education right from the primary level to IAS exam preparation coaching.
b) Ineffectiveness of Private tuitions
Generally, people believe that private tuitions offer a higher level of education when compared to regular schools and colleges. One must agree that the student-teacher ratio in schools and colleges is extremely high. In the initial stages, private tuitions or coaching classes used to provide quality attention to students. Today, the situation in these private coaching classes is not very encouraging. Besides, quality has also deteriorated over the years. Students have an alternative today in the form of online coaching. Thus, you have Edtech start-ups providing an extensive range of courses for various exam segment and career growth learning segments.
c) Low cost of content
The primary advantage that Edtech start-ups have over the traditional educational set up is the cost factor. The Edtech start-ups do not face recurring costs in delivering the same content multiple times. Yes, they incur costs in developing new content. Besides, they focus on providing quality content, as they need to create it only once. Secondly, the use of modern technology like Big Data, Machine Learning, and Artificial Intelligence has made it easier for the Edtech start-up units to deliver quality content and help students.
d) An untapped market
Online education is an untapped market. As compared to other online markets such as clothing, groceries, e-commerce, local transport, and food delivery, the education market is mostly unexplored. Yes, you have start-ups like Byju’s, EduRev, K-12, Edutech, Vedantu, CueMath, and others, but there is still tremendous scope for Edtech start-ups to spread their wings all over the country. One should also note that the student base is an ever-increasing one. Career aspirants are also looking up to these Edtech start-ups to provide preparation guidance for IAS exam preparation and help them prepare for the various career-defining entrance examinations.
e) Convenience to students
Edtech start-ups offer great comfort to students. All that the students need is an internet accessing device and a stable internet connection. Today, smartphones provide students with the easiest way to access the internet. They can download the Edtech apps on their smartphones and laptops and get access to quality education from virtually anywhere and at any time.
The concept of Edtech start-ups benefits students from the Tier II and Tier III towns to access good quality education. They do not have to travel to the metropolitan and other big cities to attend coaching classes that cater to IAS preparation syllabus and other competitive exams. Students and career aspirants from the metro cities also save time and money by accessing these Edtech start-up apps. This facility allows students to study while earning as well.
f) Individual attention
People prefer private tuitions for the only reason that they get personal attention from the teachers. Nowadays, private coaching classes are also not able to focus on individual students. It is not the case with online education. Edtech start-ups enable students to have personal mentors for different subjects. There is invariably a one-to-one interaction between the student and the mentor, whereby it becomes easy for the students to clarify their doubts. Communication channels like Skype, WhatsApp, and Facebook make it easy for students to get individual attention.
g) Specialist teachers
Nowadays, Edtech start-ups provide specialised IAS online coaching to enable career aspirants to prepare for the syllabus for IAS exam. Students get the benefit of getting proper guidance from dedicated teachers and counsellors. Mock tests are also available online to help the students know their preparation levels. These tests also help students to get a feel of the actual exam.
Edtech start-ups benefit students mainly because they save time and money for the students. Students get personalised coaching, whereby it becomes easy for them to grasp the subjects. Gradually, Edtech start-ups are becoming popular among students from smaller towns and villages as well. The government of the day has also facilitated the spread of such start-up initiatives by providing them with incentives and benefits. Therefore, names like Byju’s have become very commonplace today.