EdTech startups have been redefining India’s education for the last couple of years. However, 2020 has been a game changer for these companies.
Overnight, most companies went from small businesses to large enterprises. And million-dollar businesses grew to multi-million-dollar businesses. In fact, over $1.4 billion dollars was invested within a span of 9 months in 2020.
And that was just the beginning. From here on its only upward trend for EdTech industry. It is projected to grow by 3x times to a whopping $10.4 million dollars by 2025.
However, there is but one hindrance. EdTechs have to start adopting new technologies to stay relevant among the growing competition and to keep their students satisfied & educated. If not, they will never reach their goals.
So, here we unveil 6 technological advancements that EdTechs have to adopt if they want to survive the onslaught.
6 technological advancements that EdTechs
1) Blockchain-powered Digital Credentials
Digital credentials are the most important addition to any edtech. India is a country where the number of fake credentials is increasing by the day. So, it is important that edtech companies secure their brand credentials through digitization.
Not only will it curb fraudulent credentials around their brand name but it will improve the issuance and verification of credentials drastically.
What generally takes weeks can be done in a matter of minutes.
Also, with blockchain-powered digital credentials, they can be permanently stored on a distributed ledger. So, they can never be lost, manipulated or tampered with.
This robust security around students’ credentials will improve their trust and refer more people to your advanced institution.
In fact, according to INC42’s latest report on EdTech, most lucrative businesses come word of mouth. So, if your EdTech company is planning to grow rapidly then digital credentials powered by blockchain should be the starting point.
2) VR/AR Technology
Learning has to become reality. Currently, most edtech companies have incorporated multiple technologies to make it so, however, the need of the hour is more.
It is time that EdTech startups incorporate augmented and virtual reality into their teaching.
One of the reasons why companies like Byjus have become multi-billion dollar businesses is because they have ensure their content delivery is realistic and mind-blowing.
Let’ not forget that human beings are visual creatures. So, we remember what we see and what we see is what we live by and vouch for.
By adding AR & VR you will be able to create interactive content for your learners who will probably become addicted to your platforms.
They would ask for more the moment they are hooked in.
That is best way to improve the growth of your edtech startup and stay ahead of the competition.
3) Automated Learning
Automation is the next big thing. Is your edtech experimenting with automated platforms?
If not, you should get started. From learning management systems to management teams, institutions across the globe have started updating their infrastructure to automate multiple activities.
It reduces human error drastically and improves the time spent on creating a valuable curriculum.
Students, especially working professionals who are continuing their education, prefer podcasts where they can listen to their education material on the go.
This will save time for them resulting in an increased liking for your edtech.
You will also be creating another important stream to deliver your course content on.
So, if you have not considered establishing a podcast yet, then do so immediately.
Voice-search Based Digital Marketing
Well, this is more related to the marketing needs of a tech company. It is important to improve the marketing content you create to be voice search friendly as the number of voice searches has increased drastically.
This will improve the chances of your company ranking at the top for the relevant keywords.
These are some of the important technological advancements that edtechs have to implement immediately.
5) TruScholar to Help You
Remember the blockchain-powered digital credentials part that we mentioned at the beginning? Well, TruScholar is India’s first platform that has combined cutting edge technologies to create a platform which is easy to use for admins and students alike.
We are proud to have helped multiple institutions and edtechs across the country with tamper-proof digital credentials. It has increased in a tremendous amount for these organizations. We can help you the same way. Schedule a free demo today and we can show you how.