We feel close connection to startups because of the degree of innovation they bring to the market. A great idea, a solid business case and a tenacious team are a killer combination able to revolutionize the conventional landscape and bring us, at faster pace, into a better future.
Not by surprise Fintech and Artificial Intelligence are the industries which have grown the most in the last years. The first indeed breaks the monopoly of traditional financial players, aiming to a wealthier society, while A.I. uses machines to solve human problems.
There is another sector where startups are massively shaping our future, applying technology to education. We are talking about edtech, the industry where the innovation benefits are potentially larger than in any other, as the improvement they are bringing is not on a product or a service, but it is on our ability to learn and develop our skillsets.
Not only students and educational institutes spotted the importance of this sector; investors did too.
In Europe only, in the last four years, over 1B$ has been invested behind the companies proposing new solutions to enhance education and the overall learning process.[1] Globally the numbers are even more astonishing with $16.34 billion raised in 2018, with China and the U.S. leading the way, followed by India and Israel.[2]
A so high interest from investors is confirmed by customer’s demand with a global spending estimated to reach 252B$ by 2020.[3] These figures should not surprise as, with the advent of edtech, the scope of traditional learning evolved from schools and universities to mass market.
When learning a new software, we look for an online tutorial and, when the challenge is to learn speak a new language, the first step is downloading an app.
B2B also remains an edtech pillar with solutions for schools and teachers, in the most diverse areas from augmented reality to big data.
Beyond the segmentation between B2B and B2C, Edtech scope is much as showed in this insightful open source taxonomy[4]:
Many startups are playing a major role in reshaping education with innovative technology. This is our top 5 selection:
Age of Learning – Blending education best practices, innovative technology, and insightful creativity, to engage children and bring fun into the learning process.
US based, 181M$ raised.
Know Box – Targeting K12 education field, its mobile apps offer students personalized homework tailoring education in accordance with the specific strengths and areas of improvement.
China based, 301M$ raised.
Early Adopter – Leveraging on augmented and virtual reality to deliver a sensorial experience of the classroom subjects.
US based, acquired by The Glimpse Group
Chatterbox – Language educational platform, transforming skilled refugees in educational tutors and matching educators and students, based on their interests and background.
Swiss based, 230K GBP raised
StudySoup – Peer to peer marketplace for college students where it is possible to buy and sell notes, study guides, and tutoring.
US based, 2.1M$ raised.
[1] https://medium.com/@brighteyefund/edtech-funding-in-europe-2014-2018-report-ee6170b6512c
[2] https://www.prweb.com/releases/2018_global_learning_technology_investment_shatters_records/prweb16031140.htm
[3] https://www.prnewswire.com/news-releases/global-report-predicts-edtech-spend-to-reach-252bn-by-2020-580765301.html
[4] https://globallearninglandscape.org/
