Identifying innovative opportunities for edtech entrepreneurs

The concept of edtech has moved beyond clunky desktop computers to tech-infused tablets and interactive online courses. Leveraging tech, new-age education companies are focusing on enabling faster skill development, upskilling and reskilling, among others. While this has ensured a tremendous uptick in edtech adoption, constant innovation and embracement of future trends is the need of the hour to stay relevant. 

Challenge  

The objective was to examine how innovation can be accelerated within the EdTech industry to further improve the productivity and efficiency of the industry. To further analyze the opportunities for intervention by EdTech entrepreneurs to improve the learning outcome and processes. 

Approach  

RedSeer created a comprehensive research approach to understand adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), AR and VR to empower teachers with valuable tools and platforms to ensure effective in-class learning. This highlighted that players in the EdTech segment are expected to adopt a hybrid channel approach in the future.  

Further, when conducted a survey among 3000+ students and parents to understand the market trends, it was learnt that both parents and educational institutions favour implementation of tech-enabled learning solutions, making EdTech the most funded sector in the country 

Result  

Analysis done by Redseer clearly demonstrated that the usage advanced technologies such as Augmented reality (AR), virtual reality (VR), and extended reality (XR) should be the way forward for edtech players. Emerging technologies can make online courses more cost-effective and reliable for consumers and accelerate growth for edtech players.