Why do even top educational institutions seem to be missing the digital trends such as online book-selling, music streaming or travel bookings?
The reason is simple: teachers, parents, politicians cannot take high level risks, making the education a slow industry with few impacting changes. This can be a source of frustration for entrepreneurs used to the agile, nimble and rapid iterations in start-up culture. Moreover, big corporations have begun to profit by providing in-classroom technologies or products. However, as mentioned in a post written by Miro Kazakoff, CEO of Testive in X-conomy, big opportunities are here for start-ups and ROIs can be just as high as all the hurdles in the increasingly competitive known as EdTech. They just need to leverage these top 3 opportunities:
- Selling directly to teachers and students: a valuable strategy is to sell directly to teachers and students instead of trying schools or institutions. It is a way to bypass the challenges associated with doing business with schools (long sales cycles, political influence, no mistake tolerated, etc.). Does this mean change the product? No, simply adjust your target user acquisition base to leverage a growing market.
- Inside the schools but still outside the classroom: School software needs an improvement. Alumni management, professional development, admissions, etc. are areas where new technology can help out a lot. Plus, with data management tools, teachers are jumping at the opportunity to streamline their courses and class prep. Today’s existing softwares are too complex and databases sit there being under-utilized.
- Tests preparations: Parents & students want to rapidly and clearly visualize the results of a service. Tests preparations can use technology to demonstrate a ROI in indivudalized learning programs.
By Guest Blogger Guillaume Alliel