EdTech stands for “education technology”. It is a combination of IT tools and educational practices to enable and enhance learning. You can start an EdTech business to facilitate an engaging, inclusive, and individualized learning experience.
EdTech business targets many different niches also, such as formal education platforms for institutions, independent education platforms, language proficiency platforms, professional courses, etc.
Learning Platform – It is an integrated solution for administration, delivery, tracking, and documentation of academic courses and training programs.
Collaboration EdTech tools allow greater collaboration and interaction between teachers and students in an e-learning environment.
Gamification Solutions – Gamification introduces game elements to make learning more interesting. It uses things like point systems, badges, achievement targets, etc. to make learning fun and at the same time achieve the learning goals.
Time Tracking and Performance Measurement – Schools and teachers can track a student’s attendance, assignments, and projects. Tests and exams can be conducted and evaluated. Detailed analytics can be measured and analyzed as well.
How to Start EdTech Business?
The EdTech market is growing by leaps and bounds. You can still start an EdTech business by implementing a well-thought business strategy.
Understanding of the Market and User Requirements
Conduct thorough research on the market, the products available, and the pain points of users. Develop a product idea that will satisfy user requirements and also make a mark in the crowded market.
Create an MVP
Create a minimum viable product that will help validate the idea and the business validity of the idea. You can then decide whether to go ahead with the product.
Design, Develop and Test the Product
Define and prioritize requirements for the final product. Choose the right technology and create technical and functional designs. Create user interface diagrams and then build the product. Conduct appropriate quality checks and usability tests to ensure the product satisfies business requirements and performance requirements.
Demos and Pilots
Provide opportunities for educational institutes to assess the product through demos and pilots so that they can make the right decisions, and you can set up a business partnership.
Purchase and Pricing Information
Provide a streamlined procurement process so that educators and students will get maximum value. Customer loyalty can be won by pricing terms that are transparent, flexible, and fair.
