Last Updated: 05 Feb 2021 | 8 min read
Are you planning to open your startup this year? Well, 2021 brought new hopes with it, but it also brought an evolved version of the coronavirus at a time when humanity couldn’t get rid of its predecessor. How can you expect to survive and thrive during times like these? Your choice of business will determine where you’ll stand, and at this moment, the ed-tech field is one of the greatest surviving gainers amidst this pandemic crisis.
The coronavirus pandemic introduced significant changes to the world of education and at every level of it by force. Whether it’s a young child getting ready to attend preschool or an aspiring and youthful boy/girl about to opt for higher education for career development, COVID-19 changed how they have to study and learn. Also, the event accelerated the adoption of digitized systems and technologies at a scale hitherto unheard of.
Governments of various countries imposed lockdowns to prevent or contain the spread of the virus. This situation gave birth to an entirely new barrage of experiments and innovations in the field of education. Teachers are currently teaching their students online and every educational institution had to transition to e-learning strategies. Pupils of all ages had nothing but their own resources to rely on. Quite naturally, this sudden transition brought numerous inconveniences and challenges to the whole educational community. No matter how lamentable the conditions are, this disruption to existing educational systems also gave several valuable lessons. It even provided an opportunity for all stakeholders to look at education from a new perspective. COVID-19 brought different unique business models, and numerous existing ed-tech startups saw a chance to grow their business exponentially, both in terms of the number of users and revenue.
So, what does COVID-19 has to do with education? It forced almost every government of every nation to impose lockdowns and reduce the spread of the pandemic, which let schools and other educational facilities to close their doors. According to reports generated by researchers, this crisis created the most significant disruption in the world of education. No other event created such a situation in the past. It affected almost 16 billion students across 190 countries. Then again, it isn’t plausible to put education on hold for as long as possible. The education community had to seek out alternative strategies to continue providing services. It brought forth innovations and experimental opportunities.
Some of the most noteworthy changes include the following:
(1) Dependence on technology: Since both students and teachers had to shift to online systems to continue the flow of learning and teaching, technological innovations and interventions started popping up. Even administrative departments had to resort to software solutions and mobile applications to keep doing what they must. Mobile phones, tablets and laptops became must-have gadgets. Reliance on the internet also skyrocketed.
(2) The appearance of online education: As physical classrooms had to keep their doors shut, schools, colleges, universities, and coaching centers had to opt for technology to take their educational services online by developing eLearning app. Through web-based systems, teachers began offering online classes and learning experiences. However, numerous educational institutions had to struggle in the beginning as they lacked the experience. They didn’t have the necessary infrastructure, either. Circumstances like these further gave rise to online teaching tools and video conferencing smartphone applications to keep the ball of teaching and learning rolling.
(3) Learning remotely: There was a time when remote learning used to be nothing more than a term. Today, however, it’s as real as the pandemic itself. Teachers had to shift to modern pedagogical solutions and models of teaching. Students, on the other hand, had to depend on whatever resources they owned to continue their education remotely.
(4) The rise of teaching tools: Again, due to schools and institutions closing down, the use of online teaching solutions, educational games, and animals became the norm. Despite being profoundly different from regular classroom-based education, it’s mandatory to use these tools to fill the gaps.
For ed-tech startups
Now that you know what the sphere of education looks like at the moment, it’s time to explain what it means for you to open your ed-tech business in 2021. It may sound odd, even a bit too cold and calculative, but COVID-19 is nothing less than a blessing in disguise for entrepreneurs. Every other industry reached the brink of collapse, and many even went down the drain. There have been widespread layoffs, remuneration cuts, and every other despicable event you can think of.
Nevertheless, the worldwide ed-tech sector saw exponential growth. After all, almost every student and teacher in the world had to turn to digital education solutions. Indeed, the concept of e-learning has been around for a long time. Many educational facilities adopted them long before the pandemic. However, it did accelerate the growth and popularity of this industry exponentially. Whether it’s about school curriculum, virtual tutoring, language-learning applications, online learning software solutions, or video conferencing platforms, all these systems have become mandatory since COVID-19.
Yes, it’s lamentable. Yes, it’s despicable. Yes, it’s devastating. No matter how many adjectives you use, it’s almost impossible to describe how destructive the impact of COVID-19 has been on teaching and learning! However, it’s also true that it brought several incredible opportunities for opportunities planning to open their business this year. If you’re thinking about tapping into the ed-tech sector, then you have to thank the pandemic unabashedly. So, yes! It’s highly lucrative to establish your business to cater to the requirements of teachers and students in 2021.