It was a month after I started Smoocer that I realised it comes under the category of an Edtech startup. Edtech means much more than it appears to be. Its not just about online tools that teachers can use to keep track of their students. Edtech startups range right from technologies that sell to schools, products for MOOC takers to learning tools for individual students and learners.
By working on my Edtech startup and in trying to make sense of this industry, I have discovered a few common experiences faced by several Edtech startups whose founders I’ve interacted with. If you’re looking to venture into this space, or if you are already in this space, here are some things that I consider must knows of the Edtech space:
The GOOD: There are tons of opportunity in the market. No matter where you look in the traditional education space, there is almost always visible scope for technology to swoop in and save the day. It can be in the form of Learning Management Systems for teachers or Massive Open Online Coursewares for learners worldwide. Problems, such as poor communication between teachers and students or low accessibility to quality education are well defined problems that have a well defined audience. And this is what makes Edtech such a vibrant and upcoming industry.
The BAD: Just because the problem is clearly defined and existent, doesn’t mean people are willing to adopt your solution. Remember that the Edtech space is entirely and completely dependent on the education space, which is fairly resistant to new technology. The Education industry comes under the late majority in adopting technology. Many a time, you can talk to your customers, understand their problems and craft a perfect product for them. But getting them used to screens after decades of having used paper is like trying to train a human being to do a headstand. For them, computers and phones equate to distracting games and social media, which is nowhere close to effective learning and good grades. Online tutoring is an ideal example of a product that faces this kind of problem. So in other words, finding your early adopters might be as difficult as finding your soulmate.
The UGLY: Even if you come with an awesome product that people are want to use, it’s hard to get it to them. While the market is well defined, the marketing channels are not. In case of B2B products or services, the bureaucratic hurdles that you may have to jump in educational institutes can really slow you down. In case of B2C products or services, like the kind I’m working on, its difficult to find online platforms and physical places where you can market your product. End users, like professionals taking MOOCs in my case, are scattered across the planet, several MOOC platforms and thousands of Facebook groups. It’s not rare for me to be talking to a user who tells me about a very frustrating problem they’ve been facing, like choosing the right MOOC for themselves, that has already been solved to a large extent by services like Coursetalk and MOOCList. They’re just not aware of the solution yet.
I’m not saying that its harder to operate in the Edtech industry than other industries. Just like any other space, this one has its unique set of problems. But despite these problems, Edtech has been the most exciting space I’ve worked in so far. Its vibrant, moves fast and is far from saturation. And the best part? It feels like a revolution.