Education Disruption: India is one established name in the global education industry. According to the UGC Annual Report 2014-15, the education industry of India has witnessed a 97.8 US$ billion dollar in 2016 and is expecting to make a mark of 144 US$ billion by 2020. The education industry in India is continuing at flash speed. Even with such growth rates, if we narrow down the top schools/colleges worldwide, the Indian schools/colleges would cease to exist.Looking back at the evolution of technology, the world has certainly seen many innovation disruptions. Evolution is needed in all spheres of life to give greater meaning to it
Netflix is one such example. In the entertainment world, a blockbuster catch up is a must for the entertainment lovers. From VHS tape to DVD’s. Now Netflix has become a bigger picture in the entertainment world, where we get instant gratification when choosing movies. Blackberry phone was another thing too, now iPhone is the most hyped smartphone on the market.
Edutech start-ups could take the further make a greater impact on the education sector in India. Already there have been certain initiatives taken by the education governance of India. There are visible projects that have been started in the education sector. Technology has been imbibed in the teaching and learning which shows that Indian system is ready for education disruption.
We see technology going hand in hand with education in the modern world providing us new learning platforms. India too has taken technology at its hand in upgrading its economy. In the education sector, technology has been the driving force in enhancing the quality of education given and received. Digital learning has been made possible, start-ups providing online learning are also growing in number and is by the investors. Online mode of learning is gaining wide consideration in India. The search for online education has doubled in India in the last two years.
The rise of Edtech companies is one major revolution in the education sector. In India, this market is expected to reach over $70 billion by 2017. The market will cover 50% the higher education sector, 40% of K-12 and the remaining 10% will go to the coaching/ tutoring classes. This education technology programme is expecting to see an eight-fold increase in growth which will hit $1.96 billion by 2021. EdTech aims at collaborating the online and the classroom teaching together to invoke in a practical sense of learning in order and better skills.
EDUGILD is another platform which focuses on the online mode of education. it has the accelerator program where it collaborates startups that provide various services that would stir up the method of education. Recently EDUGILD has launched its fourth batch of EdTech accelerator program.
India’s Massive Open Online Courses or we call it MOOCs, is the massive open online courses which provide online web-platform for distance learning. MOOC provides education or learning on any kind of subject of interest at a flexible timing which serves the same education level as that of college. They provide course materials, watching short lectures, participating in discussions and tests and evaluation of results as well. Coursera, edX, udacity are examples of such online courses platforms. Coursera has the second highest number of registrants from India, making India the 2nd largest market with 1.7 million users.
India is at it, in looking for better than the best. Concepts like AI, gamification and m-learning are up on the list showing how far we’ve come from where we started. Cloud-based learning technologies are another big thing we are looking forward to. It is indeed gratifying to see that people have accepted and embraced this new wave of technology in the education system. In coming years, India is expected to be leading the global education industry.
Madhukar Angur is also a Chancellor and Founder of Alliance University, Bangalore. He is a thought leader, a teacher, a scholar, a researcher & an entrepreneur. Madhukar G Angur is a Mentor and Investor for EduTech startups around the world. The latest news about Dr. Angur says that he is planning to become an edutech entrepreneur by investing financially in the start-ups. The will be mainly planning to invest in the field of Edu-Tech, Fintech, etc.