Edu-tech Start-ups Expected to See 12% Rise in Funding in 2016-17: Report
Online education system is increasingly taking over the traditional methods of teaching. Technology has become more advanced and a increasing number of innovations are 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 education in access 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.
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 counselling, 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 counselling and learning management.
- There has been maximum funding in the city of Delhi (NCR) followed by Bangalore and Mumbai.