Venture funding for EdTech is booming this year, with CB Insights projecting that there will be a 24 percent growth over last year, with close to $3 billion in total funding. At the center of that growth is a group of entrepreneurs and innovators working together to improve the education industry, increase access, and reduce costs. With an influx of capital comes amazing opportunities for innovators to launch profitable ventures while optimizing the education system.
One of the biggest investors in EdTech, Bill Gates, shared at an ASU GSV Summit, “Our foundation’s going to do everything we can to help facilitate the creation of great technology.” With institutional investors like Gates signaling commitment to the industry, this year’s growth is probably the start of a much larger trend.
Making Education More Cost Effective
Reducing the cost of textbooks
Lowering the overhead for institutions
Technology companies that help reduce overhead for institutions can help them deliver savings down to the student level. For example, IT innovations that offer more affordable enterprise solutions for educators could help significantly reduce costs. Co-working innovations like Slack and Google’s G-Suite are prime examples of how innovators can offer lean technology solutions that help reduce administrative costs.
Reducing completion times
How to Improve the Industry
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