With fresh rounds of funding and a rapidly increasing user base, EdTech firms have now acquired Gecko vision and are looking to increase their employee headcount.
As the whole world combats COVID-19 by retreating from the public spaces, the industries across spectrum flail about in uncertainty. Pay cuts are becoming a norm and job losses seem imminent. There has never been such unprecedented halt on all activities in our hyper-connected world. And that too for that long.
But as the pressure mounts on all corners, the much-needed release comes from the centre, i.e. Education. Albeit EdTech, education as an overarching sector is seeing exponential growth. And not just growth in terms of revenue, EdTech is also accelerating the pace of innovation in education sector.
When life gives you lemons, make e-lemons.
Growth, Innovation & More Growth
upGrad, an online education company, was recently selected as one of the top ten most innovative companies in India. Even before the pandemic, it was seeing growth in terms of 100 percentage points and was fast expanding. The pandemic has catalysed this growth further as upGrad now goes on a hiring spree. In a recent tweet, the EdTech firm chalked out the positions they are looking to fill.
On a macro level, as the industry finds more and more users in confined conditions, the companies are putting more and more effort in innovating both the content and the ways in which it can be delivered. Vedantu, an EdTech giant, is working on many such products, with their latest focusing on Live Personalised Tutoring.
New Courses Reach Newer Audience
In a fast-changing world where education was already moving out of the confines of university premises, distance learning has made the transition easy. In fact, online learning has come out as an aid to the already existing infrastructure rather than as a competition. And what’s more enabling about EdTech is its seamless integration into learning levels of the society. From school kids to university students to the people looking to enhance their skills, EdTech is catering to a wide audience. And with the onset of the Corona pandemic, this audience base is broadening.
Online training and skill enhancement portals like Coursera and Udemy have come to the rescue of both institutions and individuals alike. Coursera is offering free courses to universities around the world, and is also extending its offers to individual learners who enroll before 31st July.
More Jobs On The Way
The investment trends for 2019, demolished all the previous projections for EdTech when the number reached $18.66 Billion. With all the top dogs like Facebook, Google investing heavily in EdTech firms around the world, the job market is finally seeing the potential of EdTech. From industry leaders like Khan Academy, Byju’s and Vedantu to startups at various stages of maturation, the average headcount of industry is increasing, even doubling in some cases.
In India, EdTech is set to create 3000 new jobs in the second half of 2020. And what’s more exciting about these openings is that most EdTech companies are hiring at entry-level. Recruiting from the best of the institutions like IITs, NITs and BITS etc, lateral hirings have also been encouraging.
Now is the right time to make a change.
As more and more investors realize the potential of EdTech, and more and more people take to online learning, EdTech is turning out to be one of the leading lights in an otherwise sombre Corona time.