The widespread and increasing use of digital technology has reshaped the teaching-learning process in India. This got a boost in the COVID years, where online learning needs gave rise to several education technology (edtech) startups in India and across the globe. These platforms offered cost saving, flexibility, and a personal learning experience for users. The model of online teaching and learning also boomed because it was scalable and due to the high internet penetration, it reached the untapped population of the country that had adapted to the format.
Edtech startups have also tapped the skilling and upskilling market segment, where learning new skills while awaiting college or university admissions or degrees, or sponsored upskilling courses offered by organisations for employees to enhance innovation and skills have picked up great speed.
In the last two years, startups in the sector have had a dream run, with many unicorns reaching the billion-dollar valuation in quick succession, pushing growth aspirations in the sector. (in 2020, , and in 2021, in 2022). Inspired by these success stories, a host of new edtech startups have mushroomed in India over the last couple of years, taking the industry’s market size to around $2 billion. In 2021, edtech was the third most-funded sector in India, raising over $4.7 billion. As per the funding pattern, India is the most preferred country for edtech funding by foreign investors.
The Government of India has been giving a digital push in the education sector through its various regulatory agencies, fuelling growth for edtech companies in India. The acceptability of opening up the sector for edtech companies has gained acceptance among educators, policymakers and the government, post the pandemic.
The presence of many players in the segment indicates a cultural shift based on market needs of learners in the education sector. With education becoming commoditised, today, there is a growing interest and enormous business opportunities in the edtech sector that pan across online, hybrid, and offline offerings. An increasing number of innovators are trying to leverage this every possible way.
According to a report by Business Standard, by 2030, India’s education market is projected to increase to $313 billion. The market size of the edtech industry is about $2 billion. The opportunity is vast given India has the largest population in the world in the age bracket of 5-24 year with 580 million people. India has over 250 million school-going students, more than any other country.
To nurture and showcase the potential of the sector, Amazon Web Services (AWS) in partnership with CloudThat and YourStory are launching Growth Gurus, an offline meet and greet event that will bring stakeholders in the sector, together on a common platform, to exchange ideas, learn about latest technology innovations, and be part of a community of edtech founders.
The event will feature a keynote by PP Sunil Acharya, South Asia Lead, AWS, followed by a fireside chat with Abhishek Mishra, Chief of Strategy, PhysicsWallah, on the startup’s journey to becoming a unicorn in the edtech sector. This will be followed by sessions from Bhavesh Goswami, founder and CEO, CloudThat; Irshad Chohan, Senior Solutions Architect, AWS and a closing note by Vishal Makhija, Business Development Manager, AWS.
The aim of the event will be to understand how technology can play a pivotal role to make offerings agile, scalable, and customised to market needs. Insights from market leaders in the sector will help edupreneurs chart strategies for the future. This will be followed by open forums, ample networking opportunities, and a platform for visibility for the next big idea.
To all edupreneurs, innovators and stakeholders from the sector, Growth Gurus will be your chance to network, participate, and build the next chapter of the edtech sector in India.
To be part of the event,