The edtech companies that were seen as rising stars before Covid started got a huge boost when the world came to a sudden halt due to the pandemic. Students moved to online classes to learn new skills or upgrade specialisations. Indian edtech companies such as Byju’s, WhiteHat and Unacademy saw their membership grow exponentially in this period.
Talking about the future of edtech in India at the recently concluded TiEcon Delhi-NCR’s Unstoppable India virtual event, GV Ravishankar, Managaging Director, Sequoia Capital India, said: “If you look at founders today, and the examples that have been set by people who have built large global businesses out of India, it has created ambition among entrepreneurs to dream big and try to achieve greater heights of success.»
The event held on March 24-25 saw the participation of business leaders, entrepreneurs and industry representatives
What people want
Consumers today are looking for three things: something that is cost competitive, more choice and greater convenience. Technology is providing all the three. People can access the best of education from the comfort of their homes. A student can choose to learn from anyone across the world.
As more and more people come into the market, it becomes more cost competitive. While earlier one had to pay a couple of lakhs to get trained, the same can now be done much cheaper. This does not mean that offline classes are going away, it means online complements offline and they can work together as a package. This is leading to the rise of an omnichannel way of learning.
