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Edtech, surely, has arrived. Even facts are indicative of that. With about 9.5 million users, India is the second-largest market for eLearning after the US, says India Brand Equity Foundation (IBEF). And, this ever-growing market is set to touch $3.5B by 2022, according to a RedSeer and Omidyar Network India report. Not to mention the total investment of $2.22 billion in 2020 (as compared to $553 million in 2019) received by startups in the space, as per Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs data. The pandemic, indeed, has done more good than harm to the Indian edtech space.
The National Education Policy, which has seen the government set a target of a 50 per cent gross enrolment ratio by 2035, may only fuel the edtech marathon in the future. Experts believe that startups in the space can play a crucial role in democratising quality education, particularly in tier-II and tier-III cities. “Edtech startups have found significant uptake in Bharat and the trend may continue especially in the B2B education space as educational institutions look to digitise and better engage with students along with disrupting the traditional tutor market,” says Ankur Pahwa, E-commerce and Consumer Internet Leader, EY India.
Source-Times of India