Players in the educational sector have today, adopted different methodologies to change the way how tuitions and coaching are delivered to students.
Education is a booming market for startups right now. The concept of Education startups is rising in terms of changing perceptions and expectations of people. Constant innovations along with the proliferation of internet and smart-phones have triggered a fundamental change in how school and college students as well as professionals seek new skills and learning. Players in the educational sector have today, adopted different methodologies to change the way how tuitions and coaching are delivered to students.
With numerous ways to launch a business, to launch a business that turns into a successful one and generates revenue is what matters in the end. In India, the education sector is huge with enormous avenues and opportunities opening up for young entrepreneurs.
Starting a project in the educational learning sector allows one to engage with business trends that are currently ruling the charts of top businesses to invest in. This business not only brings in financial growth, but is also an asset which contributes to building a nation by imparting learning, and thus securing a bright future for many young lives. However, the harsh reality is that with time, education technology is also becoming a crowded market.
By leveraging technology, a host of education startups in India are trying to tackle eminent problems in the Indian education sector in an attempt to make education and learning more approachable and accessible. They are also bringing world-class experts and knowledge together to help learners achieve what would take a lot more effort otherwise.While a few of these startups aim to provide better coaching, some help in cracking academic entrance examinations while others aim to provide various non-academic courses.
One of the best examples of Education startup in India is BYJU’s: The learning App. Founded in the year 2008 by Mr. Byju Raveendran on whose name the app is based, the app aims to offer training for preparation of different entrance and competitive examinations like CAT, JEE, IAS, GRE, and GMAT. Since then, it had left a mark on the list of suppliers of school curriculum supplemental classes between grades 6 to 12.
The company came in limelight in September 2016 after it announced raising $50 million from The Chan Zuckerberg initiative (CZI) and Sequoia Capital along with other investors. In June 2016, the firm was reported to generate huge profits upto INR 30 crore.
The BYJU app strives to discover a unique methodology to escalate pace of learning among the students and bringing interactive activities and online learning for personalised tutoring. As on September 2016, the app crossed the 5 million download watermark, reaching a high of 5.5 million downloads with over 2.5 lac paid subscribers.
All said and done, the education-technology industry is still in the nascent stage, but is geared to disrupt learning. Shifting from the conventional teacher-student model, today numerous start-ups are exploring new innovative ways, from virtual classrooms to experiential learning and coaching, to enhance the learning experience of a student, and eventually build a successful learning environment, that actually works.
This article has been written by Raunak Jain, Managing Director,Tula's International School