Edtech in 2020: It was a year to thrive

Nations had no clue in dealing with the mysterious virus—they were left with only one option, to go on complete lockdowns.

Learning will no longer be restricted by age.

By Vineet Patawari, 

The heydays of Covid-19 instilled in many the feelings of hopelessness and fear. The mighty human civilisation had, for the first time in recent history, stepped into the unknown. Nations had no clue in dealing with the mysterious virus—they were left with only one option, to go on complete lockdowns. In many ways, it could have been said that globalisation had failed us. Large corporations, small businesses and world trade, all affected on a scale never before seen.

But in only six months, the world has adapted to a new way of living. Businesses are coming back on their feet. With the help of federal aids, the financial markets have bounced back and have made record returns for investors the world over.

Many industries have benefited due to Covid19; rather than struggling to survive, their businesses have thrived. One such is online education, or edtech. Although edtech platforms have existed for long, Covid-19 has proved to be a boon, for especially start-ups.

According to a YourStory Research report, edtech start-ups in India received the second highest funding after fintech start-ups in H1-2020. Student enrolments saw a massive surge during the pandemic, and this enabled edtech companies to convert offline customers to online faster. Investors also expect this trend to continue as consumers get more comfortable with digital learning.

A major reason for this has been that students have been confined to their homes. Digital education and e-learning are the only solution to this. Be it students belonging to primary schooling or professional courses, everyone has found edtech as a convenient solution.

One of the most successful platforms within the edtech industry has been the one catering to finance-related educational courses. Platforms like Elearnmarkets.com and StockEdge.com have been offering certified courses in the stock markets and other financial markets courses to empower small investors in India and not fall for traps which can cause huge losses to them.

It would be interesting to see if this trend of online education continues. But one thing that does seem like will continue is the trend of professional online courses where both young and old consumers continue to sign up alike.

The author is co-founder, Elearnmarkets.com

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