Edu-Tech Start-ups in India Expect to See 12% Rise in Funding in 2016-17

July 14, 20168:38 am890 views

Online education system is increasingly taking over the traditional methods of teaching. Technology has become more advanced and increasing number of innovations is coming up in the education industry. This technological advancement has led many start-ups to surface in the industry.

The start-ups are increasingly using innovative ideas to enhance the learning experience for the students. They have made access to education possible to all the students through the use of Internet. They have connected the learners, educationists and all those involved in the education.

Craft Driven Market research studied 270 Edu-Tech start-ups of India which are currently running and investigated different parameters attached to them. With massive R&D and innovation taking place in these start-ups, the future of the country is expected to be much influenced by these start-ups.

Moreover, with more than 1.4 million schools with an enrolment of 227 million students, India is one of the biggest education systems in the world. Also, there are currently more than 36000 higher education institutes in India. There is a high potential for Edu-tech start-ups in the country while they evolve the face of education industry.
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Major findings of the report are:

  • Delhi (NCR) hosts 25% of Edu-tech start-ups of the country followed by Karnataka and Maharashtra with 20% and 18% presence respectively.
  • Digital literacy centres have no relation with the presence of Edu-tech start-ups. Some states like Bihar and Madhya Pradesh have a large number of digital literacy centres but almost no presence of start-ups.
  • There are 9 segments of Edu-tech sector that have been identified which are e-learning, learning management, ERP, Career counseling, extra-curricular, study material, Information provider, test preparation and 3D learning.
  • Number of funding in education sector is expected to increase by 12% in 2016 and 2017.
  • E-learning has received maximum funding till date followed by career counseling and learning management.
  • There has been maximum funding in the city of Delhi (NCR) followed by Bangalore and Mumbai.

See: Start-ups Pay Huge Salaries to Attract Talented Data Scientists in India

Edu-tech sector of start-ups is one of the sectors, which is impacting the social life of millions of students. Nowadays, students can easily get information about different courses, colleges, educational training and career options through the use of Internet.

These start-ups are exploring all the segments of education and enriching the learning experience for many. It is expected that by 2020, all the students in the country will e-literate and will be able to connect to the start-ups without any challenge such as little penetration of internet.

One of the emerging sectors is that of career counselling and many start-ups have plunged into the arena. One of the start-ups is Career Clinic, which is providing career counselling to the students.

Koushik Chatterjee, CEO of Career Clinic says that, career is one of the most important aspects of students’ lives and still it is neglected and decided through incomplete information. The start-up aims at impacting the lives of 1 million students by 2018. The start-up has effectively used technology and knowledge to set up a platform for students which can connect them to professional career counselling.

Another start-up, Get Buddy is working in the segment of providing online courses to the students through certification. These courses are provided by premier institutes and trainers and are available to the students at cheaper costs. These courses help the students to develop skills and become more employable as well as knowledgeable.

Kalyandhar Vinukonda, CEO of Get Buddy says, “This segment is new for domestic start-ups. Although there is fierce competition in this segment as well due to many indirect competitors but the start-up aims at providing best training material to all the students at lesser prices. This can also indirectly impact the unemployment in the country.”

Aakanksha Aggarwal, founder of Craft Driven Market Research says, “Currently there are more than 500 start-ups in the country in the education segment, many of them are regional. They have reached even to the North-Eastern states of the country. The time is no far away, when all the students and educationists will be connected through the bond of technology.”

Also read: Indian Start-Ups are betting big on Innovative HR Policies

Image credit: nasscom.in

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