Education is a very long-term business. The amount of education startups is now increasing at an exponential rate.
With education being the ultimate goal of 51% parents for their children in India (As per an education survey conducted by HSBC), it is not very astonishing that Education startups are going to witness a bright future. Not only in terms of funding, the concept of Education franchise startups is rising in terms of expectations and changing preferences of people. Educational companies seem to use different methodologies to change the way how tuitions and coaching are delivered to students.
Some of these startups aim to provide better coaching in their chosen subject domain, some help in cracking academic entrance examinations while some others aim to provide various non-academic courses.
Today, students need to have access to interactive videos and textbooks, on-demand classrooms, customized learning modules, access to top-quality lessons and content from some of the best universities in the world.
There are a lot of things to be pondered upon in the current education system-
- Lack of understanding of education market- Education is a very unique market and probably there are few industries that are as diverse and spread-out as education. If we identify the needs of our children today we will be able to identify a lot of areas that require startups in this industry.
- Long haul- Education is no e-commerce, or taxi business, or hyper-local business. Start-up in education requires a long haul i.e. atleast 5 to 10 years. In education, no one has seen hyper growth.
- Primary Education- Compulsory and free primary education should get on top of our education agenda for education is an elementary right.
- Teaching- In the current system of education, the shortage of opportunities for creativity for lecturers as well as students is consistent as there is Excessive use of textbooks and external examinations.
- Learning to learn- There ought to be a change in the current system of book-based and theory-oriented teaching by way of practice and experience as it doesn’t install independent thinking. This could be initiated from the primary level of education in new startups.
- Value systems- To build a society with sensible character and citizenship, it’s vital that value education is introduced in pre-school and strengthened in primary, secondary and higher education.
- Physical Education- There is no stress on physical development in our school curriculum. There’s a desire to encourage sports activities by providing the required infrastructure. Startups in this area are very much needed.
- Extra-curricular activities- Extra-curricular activities like games, study visits, arts and crafts, abacus training and similar activities’ platforms are much required in the education sector.
If we go deep into the system we would realize how children are lagging behind in good speaking and presentation skills, promptness in their mathematical abilities or maybe street smartness. These are the real life scenarios which seem challenging to them later. If there are enough institutes catering to these issues; children of our country will benefit a lot. Right from a young age of 4 or 5 they should be introduced to an environment which cultivates and grooms them in a way that higher education gets simpler and uncomplicated. More and more children are moving away from STEM based careers. A weak foundation could be the reason.
Traditional Education systems are undergoing tectonic shifts as both students and educators rapidly want to embrace the convenience, personalization and agility offered by new ideas in this vast and dynamic sector. To name a few start ups changing the scenario of education system-
MangoReader is trying to change the way kids read books by making books interesting, engaging and fun. On MangoReader you can read, comment, search, answer quizzes and share with friends.
OliveBoard is an adaptive learning platform. As per the level and need of a child test preparation material is created, taking into consideration the pace and difficulty level required.
English Smart is a classroom program by Aloha which helps children develop English speaking, reading and writing skills. Another popular program by this company is Aloha mental arithmetic which enhances the mental math skills of children through which calculating speed and accuracy increases radically.
TestBook is a startup which provides complete help on competitive exam preparation. Studying and taking tests goes hand in hand along with performance analysis.
The latest buzz word -Edtech is making a mark in the field of education and to name Khan Academy, Edugain , Sharpedge learning and many more are doing a marvellous job.
There are lots of franchise opportunities, especially if you take a long term view of it and want to build something meaningful for the next 25 years!