In the most simplistic terms, edupreneurship is about creating or building learning capacity, and it is about driving change and reform.
The Indian education industry has always been a significant contributor towards the economy and is well poised for continuous growth. Today, with the inclusion of more private players marking the scenario, education is witnessing a significant yet progressive change. Therefore, industry is set to achieve its peak as the idea of business via education catches up, with edupreneurs on an all time high.
Against this solemn backdrop, heavy responsibility has devolved upon the country’s struggling minority of bona fide educationists and educators to positively influence public policy and simultaneously guide their own institutions of learning through treacherous waters and currents. This responsibility is not only of education philanthropists and private education entrepreneurs (‘edupreneurs’) who have “established and administer educational institutions of their choice”
In past, the state of both government and private institutions was deplorable, as education was solely focused on a mark-based achievement. A rapidly growing economy like that of India requires an adequate supply of accountable and quality education.
In the classroom, edupreneurs utilize the technological resources at their disposal to support instruction. Outside of the classroom, edupreneurs are often individuals looking to reshape or reform the educational landscape as we know it.
While working on the web platform for CultureAlley, Nishant and Pranshu realized that there is a bigger inherent problem with the language learning industry. There is a very high dropout rate because majority of students don’t find the static content interesting, simulating, or contextual.
CultureAlley aims to disrupt the way languages are practiced by converting a learner’s web browsing experience into their language classroom.
Women entrepreneurs tend to be more successful because of their trusted status in the community. Controlling for firm characteristics, research suggests that women-owned firms outperform those owned by male counterparts.
According to Nishant, the real pain-point is actually practicing the language. For this, one needs to see or hear the new words at least 5 to 15 times. “Unless you incorporate the practice in your daily routine, you would only be looking at static pictures and mugging up words. With this app, you can practice new words while you are browsing whatever you like on Twitter or Facebook or the web. It replaces certain English words to words in your target language. You can click on highlighted words, which will give you its meaning, audio tips on how it should be pronounced, and an option to ask a question on it or save it in your vocabulary. It is 100% contextual, 100% real time and 100% personalized,” explains Pranshu.