Due to its diversity, the number of Entrepreneurs in the EdTech space is significantly higher than in the ECommerce space- Dilip Chenoy
In an interview with the former CEO, National Skill Development Corporation, we were given a clear picture of the Edtech Industry in comparison with the ECommerce space.
What is the ratio of people entering in the skill development sector? Is it big?
So, if we look at the overall country, the number of jobs created is far less than people coming in the working age population. If you look at the long term projection they are saying by 2025 India will have about 56 million people who will be surplus. Currently, if you look at the education program and NASCOM statement, aspiring mind statement of the CII report, which talks about only 25-30 people being actually employable in the industry.
If you look at the skill space and if you look at the data by the AICC website report, you have some org are able to do 85-90 placements. Other organisations have a lower rate say like 35-40%. There are many reasons why a person doesn’t take up jobs in India. People prefer learning a skill, based on their future perspective because everybody in India wants to get a degree, for they believe that once you have a degree, there is a higher probability of employment in the public sector. So that’s the challenge in this sector.
How do you see the growth in the EdTech sector when you compare it with the Ecommerce space?
There are 2 aspects in this regard. The number of Entrepreneurs in the EdTech space is significantly higher than in the ECommerce space because EdTech is more diverse. So, you have hyper local or local people or the PAN India players in the products. But here the situation is different. The definition of EdTech space is very vast. The amount of funding to the EdTech sector is vastly smaller than the Ecommerce space. And over the last 2 3 years, the Edtech investors have been focusing on some group of institutions but nobody is focusing on other aspects like Mobilization or Assessment. Those have actually dropped off in the previous years.
A lot of content and delivery of education where there is a viable economic model, where there is a test prep, education kit, funding of educational entities or else the funding is very scattered.
Tell us about the current scenario of EdTech.
The EdTech products are very institution specific. So, whether you are in a Higher Education space, school Education space, Pedagogy, Training, you have to actually work with that individual Education. Government as a buyer is not there other than smart school initiatives or other initiatives. The scene is very different in the private sector. You have to go and engage with them in one on one basis.