The Indian e-learning market is expected witness an 8X growth to reach USD1.96 billion and the current user base will grow at 44 percent CAGR to 9.6 million users by 2021.
With picturesque locations, no traffic snarls, low attrition rate and a large pool of technology talent, Chandigarh is emerging as the hottest start-up hub. It is also the educational hub for neighbouring states. These days, EdTech apps are highly popular as online education has become popular among working professionals and students in higher education. Thus, starting an Edtech business in Chandigarh is highly lucrative, here are the reasons why.
Pool of Talent
Chandigarh and technology have been synonymous with each other for a long time. Many Tech companies have set up their base here. The city is home to a large pool of technology talent. The city and its adjoining areas have a rich source of educational institutes such as the Punjab Technical University, National Institute of Technology in Jalandhar, IIT-Ropar and Panjab University. This makes it less difficult to attract the right kind of talent here.
Small Cities, Big Investments
Chandigarh may be a tier-II city but is one of the wealthiest cities in the country. One of the common misconceptions surrounding the entrepreneurship in small cities is lack of investment. But, Chandigarh has not only overcome but surpasses this notion.
Chandigarh has been wooing entrepreneurs with its growing number of angel investors. The lack of competition in the city makes it even easier to access and pitch an Angel investor. Thus, if your Edtech business has potential, who can only launch a successful business but may also get heavy funding.
Growing Wave of Online Education
Technology has penetrated deep into the education industry. Nowadays, it is no more a surprise to witness a smartphone in the hands of kids. Mobile apps that provide enhanced learning opportunities for school children have become mainstream. Even schools are now combining the traditional system with online education. As technology adds on to the visual experience by incorporating animations, that can be used interactively for effective teaching, and communication.
Edtech apps are proving to be beneficial for parents who wish to home-school their children, in the form of online course material. Thus, starting an Edtech app will be a profitable business move.
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