How Are Ed-Tech Start-Ups Reaching To Their Target Audience?
Education start-ups are utilizing the latest trends in the market to help their audience comprehensively. The online education market in India was about 247 million in 2016, with around 1.5 million paid users
The advent of new technologies and growth in internet penetration has seen the rise of education start-ups in India. We are currently witnessing a change in the world of online education with new start-ups whether it be information aggregators for students or online classroom portals. These education start-ups or Ed-tech start-ups are helping students across the country to find the proper mix of online and offline experience to excel in their careers. Schools are making away with the chalk and board format, and smart classes are the new trend. Interactive textbooks, online courses or tests, skill-building platforms or certification programs are all helping students make an informed choice to stay ahead in the career. The ed-tech start-ups are entering in most of these facets of the industry. Start-ups are assisting students to find a right career path. Engineering and medical studies are not the only career paths that students are opting. The environment of stereotypes around education is changing and people are looking for career opportunities outside the traditional streams.
Entrepreneurs are entering the market with new innovative solutions to engage users. Online education is not limited to online classes or learning. That’s just the tip of the iceberg. New technology is being introduced in all aspects of education, and new ventures are coming up fast to grab the opportunities. Online test preparation, real-time updates on content, a reward system for students, interactive videos, 3D or VR content and online tutoring with constant feedback are some of the features that ed-tech start-ups are using to cater to diverse and broader audience. Students feel much more entertained in this format and learns better.
Another face of online education start-ups is information aggregators. These are portal which collect the information regarding opportunities like entrance exams, results, news, scholarships, and competitions and make it available to students in an organized and time-saving format. Students preparing for competitive exams don’t have time to muddle through pages and pages of information to find relevant information. Unlike older days, most of the process by education institutions are going digital, and the start-ups are helping the students stay ahead of the changes.
Other than students, ed-tech start-ups are making it more engaging for parents, teachers, and institutes to interact with each other. The start-ups are helping teachers to get better feedback, more opportunities for work and better-earning potential. Entrepreneurs are even using Analytics and AI in their ventures to get a better understanding of what the students need. The results are used to make changes in the offerings and in turn reach more audience for the platform.
Ed-tech start-ups should understand the education sector correctly. Proper market research is essential before starting. Choose the right business model to grow. Content sharing, Freemium, subscriptions, pay per session and advertising commissions are some of the revenue models for education start-ups. Offering provided by the company should be unique and engaging. Otherwise, it becomes troublesome for users of the platform and revenue chain of the start-up would be affected. Building a good team is also important to grow at a fast pace. It doesn’t matter if the startup is externally funded or not, if it can get users and make good relationships with clients, it can make it in the market quickly.
Education start-ups are utilizing the latest trends in the market to help their audience comprehensively. The online education market in India was about 247 million in 2016, with around 1.5 million paid users. And the users are increasing rapidly. In a report by Google and KPMG, there was mention that the online education industry would be $1.96 billion markets by 2021. But there are still challenges like poor digital infrastructure to tackle and get more and more users online. The growth of online education provides ample opportunities for new ventures to grow and make their mark among the students.
*Contributed by: Lokesh Sabharwal& Ankita Sabharwal – Co-Founders, Mota Chashma
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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