Nitin Vijay, founder & MD, Motion Education (ME), is armed with a degree in engineering from IIT-BHU. But, unlike his peers, who were avaricious for high paying jobs in MNCs, he decided to nurture Indian talent by infusing quality knowledge and competitive skills. Hence, to provide them with the best coaching experience, Nitin Vijay founded Motion Education in December 2007.
The pandemic-induced learning crisis and the Fourth Industrial Revolution have made it necessary to re-imagine learning, unlearning, and up-skilling, and align it with the unprecedented technological transformation. As traditional brick-and-mortar service delivery models are being disrupted across sectors, academic as well as business institutions are embracing EdTech for future growth. The latest market reports suggest that by 2025, EdTech will be a $10.4 billion industry in India and $30 billion by 2030.
Era of Customised Learning
Learning is the ladder of success, not only for students but for working professionals, too. Thus, every business, be it a growing startup or flourishing MNC, wants their employees competent, skilful and trained. To address the L&D demand of these organisations, niche EdTech platforms are providing customised learning packages to enterprises across sectors. They offer learning and mentoring by connecting users with top regional and global experts, virtually or in person. On these B2B edtech platforms, businesses can find a complete blended learning solution for employees through 1-on-1 Coaching, In-Person Sessions, Live Speaker Sessions, Videos, Podcasts, and Blogs on all relevant topics, including Leadership, Sales, Digital Transformation, Technology, Finance, Health, Wellness and many more.
India Inc is driving progress by disrupting conventional coaching strategies and utilizing expertise to offer customised and localised studying to enterprise professionals. Today, from the best of thought leaders, subject matter experts, and CXOs using different formats, the EdTech industry is driving growth by disrupting traditional training methods and using technology to provide customised and localised learning to business professionals.
After reaping benefits from the domestic market, now the major focus area of the Indian Edtechs is international expansion into market likes the MENA and APAC regions. They are already gaining significant traction, now planning to go deeper in these regions with localised content and learning modes. In this course, technology is their principal growth driver. Their systems are designed for the users. Days of theoretical learning are over. The name of the game now is a personalised experience in learning from successful practitioners who are coaches, trainers and mentors. Organisations can pick and choose from these expert practitioners based on their requirements. To provide more value to clients, they are deploying advanced systems using inputs from their L&D leadership, usage history and current trends that allow for the most relevant and impactful learning.
According to the IAMAI-Kantar ICUBE 2020 report, there were 622 million active internet users in India in 2020. Their growth may even surge to 900 million by 2025, as rural India is speedily adapting to change. Small towns in India account for 40% of internet users and 67% of active internet users belong to urban India. Because of the unprecedented growth, the country’s edtech industry has better traction in front of global investors. Last year, the edtech sector received $16.1B in VC funding, a 32x increase from 500M received in 2010. By 2025, it will be a $10.4 billion industry in India and $30 billion by 2030.
EdTechs are utilizing the funding building products that meet global standards and at the same time invest in marketing and brand building in international markets to broaden their reach. Also, trendsetters in India’s EdTech space are working on multi-modal blended learning formats on a single platform. This allows them to uber customize the content as per the needs while at the same time, scale it across a client organisation.
Tomorrow Never Dies
Investors are interested in EdTech start-ups as they quickly adapt to advanced technologies and provide a high return on investment. In 2020, EdTech start-ups raised more than US$ 1.43 billion from 100 deals. The lion share of this money is invested in technologies such as AI, Big Data, ML, and IoT. Demand for EdTech firms in the Indian Economy is increasing incessantly as the pandemic is a great threat to the unskilled and semiskilled workforce. Government at Centre has also unrolled various plans to improve the EdTech industry. Apart from demand for upskilling, the National Education Policy 2020, and better connectivity are further improving the prospects of the Indian EdTech industry in 2022 and beyond.