Among the ever-increasing industries in the world right now, the word “EdTech” is buzzing. Its enormous potential has been grabbing attention, especially among entrepreneurs and investors.
What is EdTech, and why is it such a good opportunity in the business world?
Besides answering those questions, we’ll also look at its benefits, examples, and popular brands and products.
What Is EdTech?
EdTech, or education technology, is a practical application of digital systems in the classroom. It uses the internet, hardware, software, and other relevant supplements. With the ongoing technological advancements, EdTechaims to help learners study and perform better.
Quoted on Exploding Topics website, LearnPlatform examined classrooms from kindergarten to grade 12 across the US. They discovered that educational technology usage in classrooms had expanded almost 100% since the pandemic began.
The data also show that most programs are cloud-based. One popular platform, SplashLearn, even provides regular progress updates to parents. Their articles have more cool statistics on EdTech, so head to Exploding Topics’s “53+ EdTech Industry Statistics (2022)” or download LearnPlatform’s report directly!
What Are Examples of EdTech?
There are many ways to embed technology into the classroom. Here are a few examples that are particularly popular among educators.
Anything portable and internet-enabled counts as mobile technology. This includes laptops, tablets, smartphones, and watches.
When incorporated into the classroom, it’s referred to as m-learning (mobile learning). Integrating mobiles for studying isn’t new, as they’ve been around for quite a long time. The surge of online classes has increased their usage exponentially.
Interactive Whiteboard (IWB)
An interactive whiteboard (IWB) can be a wall-mounted computer screen or an interactive touchpad connected to a computer and digital projector. Also known as a smart board, IWB allows teachers to show their screens to students and perform tasks directly. It comes equipped with an interactive pen or pointer, but fingertips also suffice.
Virtual Realities (VR)
Virtual reality is a digitally-created simulated environment. It engages users as if they’re inside a new world, rather than just watching it from an outside perspective.
VR is one advanced example of EdTech. For educational and training reasons, VR that’s semi-immersive is more common. Users still feel their real-world environment with the reality created by VR’s 3D graphics.
What Are the Benefits of EdTech?
Education technology is one good strategy to offer learners the best resources possible. There are also many benefits to educators.
It Offers Students an Engaging Learning Experience
There’s more to school for students. It doesn’t have to be just attending classes and going home when the bell rings.
EdTech presents the potential to make the teaching and learning experience more dynamic and engaging. It helps teachers who face the challenge of keeping students focused during the class.
Younger generations are growing up among technological advancements, making them well-acquainted with technology. This is an excellent chance for educators to bring technology to the classroom and get their students to engage. Thanks to digital platforms, students are now more interested in their classes.
It’s a Great Teacher’s Assistant
Technology and the Internet allow teachers to access tons of teaching resources. Those might not even be covered in textbooks or existing material.
It’s not that these materials are useless, but what’s in there could sometimes be difficult to understand or outdated. Resources from EdTech can better support students’ comprehension of a particular subject or concept.
On the administrative side, tasks like collecting attendance, receiving assignment submissions, grading, etc., become more manageable with technology. This, in turn, helps to improve current or future lesson plans, observe students’ progress and study behaviours, and more.
It Keeps Teachers and Students up With Technological Advancements
The digital world we’re in today is still going steady and won’t stop anytime soon. Being tech-savvy and having digital literacy are undoubtedly valuable assets.
The learning style diversity offered by EdTech expands students’ problem-solving abilities. Collaborating with their teacher and classmates becomes seamless. They’ll be ready to acquire jobs requiring digital skills and competencies in the future.
For teachers, EdTech makes them better educators and opens more doors for career advancements. Employers likely hire candidates who know how to create an engaging learning environment from offline and digital resources.
Why Is EdTech a Good Opportunity for Entrepreneurs?
Education technology companies refer to brands that develop technologies for educational purposes. Launching one offers many great opportunities for entrepreneurs. Here’s why.
It’s a Multibillion-Dollar Industry That’s Still Growing
Joining the list of the world’s multibillion-dollar industries right now is EdTech.
Grand View Research’s report shows that the education technology market was estimated at US$106.46 billion (approximately €101.96 billion) in 2021. Major participants include BYJU’S, Coursera, and edX. The number isn’t only a delight for entrepreneurs but also investors.
Digital Learning Is on the Rise
Digital learning is a learning process where participants access digital resources with the help of technology tools and instructions. While it’s not a new trend, it’s been rising since the pandemic. It’ll remain so for at least the next decade.
EdTech provides not only convenient access to abundant resources but also the latest education update. When paired with digital learning, they minimise the possibility of outdated curricula.
It’s highly beneficial to combine digital learning with lifelong learning. Learn more about it by heading to our article “Lifelong Learning: The Key to Becoming a Successful Entrepreneur” for further information!
You Can Help Improve Current Education System
The need to provide better education for future generations persists, and we need more players to contribute to it. The good news is that you don’t necessarily need a degree in education or a teaching licence first.
Achieve the greater good by putting yourself on a mission to improve the current education system. One way to do that is to provide creative and innovative EdTech resources.
Start by identifying learning problems in the classroom and crafting your product to solve them. Show how your products benefit schools, teachers, parents, and learners in studying processes.
Popular EdTech Brands and Products
We already mentioned SplashLearn, a game-based learning tool developed for engaging maths and English Language Arts (ELA) practices. Here are three additional names if you need some inspiration for the product for your education technology startup.
Established in 2010, Twinkl is an online publishing house offering extensive educational material and tools for schools, educators, and parents. Twinkl supports teachers throughout an entire syllabus or only specific parts. Available at every stage of a learner’s education, accessible resources include class outlines, games, stories, etc.
Launched in 2013, Kahoot! is a customisable quiz-based learning application that belongs to one of the world’s best-known names in EdTech. Its high accessibility to educators and learners makes it versatile to use real-time in offline, online, or hybrid classrooms. Creating a quiz here is straightforward. Simply type in the question and options, pre-set the correct answer(s), and add pictures or videos to make it more interesting!
Released in 2014, Google Classroom is an integrated learning platform that enables teachers to create, mark, and return students’ assignments. The class can be conducted online and paperless. It’s all thanks to its mix of every relevant Google application that supports virtual collaboration: Gmail, Calendar, Slides, Sheets, Docs, etc.
EdTech enables users to utilise digital equipment and systems in the classroom. Some examples of EdTech include mobile technology, interactive whiteboard (IWB), and virtual reality (VR).
Incorporating education technology offers students a more enjoyable learning experience, immersing them in the class. Teachers can access more resources to help students understand study material. Educators and learners also get to hone their tech-savvy skills and digital literacy.
Launching startups in education technology is an excellent move as EdTech is a multibillion-dollar industry. Moreover, entrepreneurs can also help improve the current education system with innovative products.