EdTech Companies Step Up And Make a Bold Impact on Education

Education is an investment in human capital that is essential in the new knowledge economy. Companies and governments around the world are searching for ways to enhance education. Such a case, thus, has led to the rise of EdTech companies.

The bold idea of ‘Educational Technology’ or EdTech is nothing new. The industry has been through some rough times since its inception, but with the current crisis in American education, there is renewed interest and investment. EdTech companies or startups are everywhere, with new and innovative ideas about how to improve public education and minimize cost. One success story in the EdTech companies’ industry is Pearson. It is one of the leading learning companies, having introduced its first EdTech accelerator program in February 2013.

The Telegraph from the U.K. mentioned that Pearson’s program links startups with business leaders and experts. The company gives instructions and mentoring to its clients throughout the program in order to develop best practices and improve educational outcomes. Diana Stepner, the Head of Future Technologies at Pearson, says, “The start-ups who are making changes in the industry are capitalizing on experience. A lot were students who are now applying their experience to a broader audience. The same applies to teachers; more than simply being consumers, they are learning about opportunities in digital technology and applying their expertise to the way that people learn.”

EdTech Companies’ Categories

Many companies are now venturing into the idea of EdTech. Following are some of the major categories of programs EdTech companies offer:

Broad Online Learning – This category is for companies that focus on subjects like math, science, photography and music.
Learning Management Systems – These companies offer software platforms, that enhance the relationship between students, teachers, and parents. It also monitors the progress of the student, tracks assignments, shares content, and offers online discussion boards.
Career Development – Many Ed Tech companies provide people and enterprises with educational content for professional advancements, such as financial training.
Early Childhood Education – This is a huge group of companies that make educational toys and games for little children that can be used at the preschool or in the home.
Language Learning – Language programs are huge, and run the gamut from in-school programs to self-teaching for children and adults of every age.
Tech Learning – This may be one of the biggest categories for adults, with a huge number of private colleges and vocational programs that teach subjects like programming as well as updates in areas like security for professional development in the tech sector.
Study Tools – These have become something of a trend, with many high schools, colleges, and vocational schools offering courses that prepare their students and customers to succeed with their educational programs. The theory is that “learning how to learn” is important for everyone.
Course Materials – Many people outside the Ed Tech industry, don’t realize how important, or how large the revenues are, for those companies that provide classroom materials. Everything from Textbooks, to testing materials, adds up to a good-sized chunk of the educational pie.
School Administration – It takes materials to run and administer schools, and you bet, there are companies that fill that need, from proctored exam services to digitized transcripts.
Next-Gen School – These are the innovators who are looking for completely new educational systems, like schools that teach through games or other non-traditional systems.
Learning Analytics – Big data is king, and with something as large and unwieldy as the worldwide education systems, this is a growth category that is only going to get bigger every year.
Test Prep – Parents love them, students not so much. Test prep companies prepare students for the standardized tests and entrance examinations that students face, including tests like the GRE, GMAT, and SAT; as well as professional tests like the CPA, Series 7, and the Bar.
Classroom Engagement – A lot of focus is being directed toward classroom engagement and products and systems that can help with this all-important area of teaching.
Online to Offline – This may sound backward, after all, what is the purpose of online education in the first place, if you need a face-to-face mentor or tutor to help you through. The truth is, having someone there for personal face-time dramatically enhances the online educational experience. This category is for companies that offer platforms for students in order to have face-to-face offline tutoring.