Digitization of different sectors has enabled us to get access to multiple new platforms and Education Technology is one such digital market that has witnessed specific and substantial growth in 2022. Global trends in the EdTech industry have impacted not only students and teachers but also the institutions and curriculum developers at large. These developments include interactive learning methods, tools, experiential environments, gamification etc for students along with comprehensive teaching methods with actionable plans for teachers and traditional education organizations.
While platforms like Byjus, Unacademy, UpGrad etc have been around for a while, renowned EdTech platforms like Suraasa have explored new and wider areas within the industry to ensure they provide world-class resources to their users. Being one of the few teachers empowering and growth platforms, Suraasa launched their ‘International Teacher Olympiad’ in 2022 opening up global opportunities for teachers along with a special ‘Awards’ lineup that encourages teachers for the exceptional work they put in on a daily basis. Under their training, the brand was also able to help expand the teacher’s career opportunities internationally by bagging them placements in some of the best jobs in the USA with packages as high as ₹64 lacs per annum.
Speaking about the growth of EdTech, Mr. Rishabh Khanna, CEO & Founder of Suraasa shares, “The teaching industry has definitely seen some big changes in recent years and through Suraasa, we aim to consistently empower teachers not just in India but also globally. In 2022, we have impacted 150,000+ number of teachers by providing them with quality resources, recognition and global opportunities. Going forward, we simply want to enable more teachers upskill and help them gain more visibility.”
Not just this, 2022 saw a peak rise in multiple startups that ensured student learning is packed with innovation, experiential learning and contributor based rather than just learning through a traditional ‘desk & board’ method.
According to a detailed report by McKinsey, EdTech funding in India has grown from $0.2 billion five years ago to $3.8 billion i.e 18% of global investments in 2021. This makes India the 3rd biggest market in the global EdTech Industry. Moreover, McKinsey also surveyed more than 3,500 EdTech students and found that many were motivated by the prospect of jumpstarting their careers and were seeking a sense of “community” and that new modalities, such as virtual and augmented realities, Web3, AI, and machine learning, are officially making their way into education.
Taking this further is one such startup – STEM Metaverse which is focusing on revamping virtual learning for K12 students with a fresh approach. The platform aims to teach kids independent learning methods and integrates Metaverse technology by focusing on expanding STEM as ‘STREAMM’. This concept goes beyond just science to offer a wider approach that includes Science, Technology, Reading, Engineering, Art, Math, and Mental Health.
Sharing about EdTech and its impact, CEO & Co-founder of STEM Metaverse, Mrs. Ritika Kumar shares, “2022 redefined EdTech. Where it was predominantly limited to offering online classes, it moved to wider domains and a more pluralistic offering when physical schools reopened. 2022 has been an excellent year that has popularised platforms like STEM Metaverse and more. This year has been significant for us as we also successfully launched our own, secure NFT platform for kids that enables them to independently take ownership of their creations. Collectively our aim has always been to ensure we offer a futuristic learning environment matching global standards, at an affordable price.”
With 2022 being such a crucial year making way for innovations in the EdTech industry, it will be interesting to see how these companies grow in 2023 and the years to come.