The Indian Edtech industry experienced remarkable growth in 2020, driven by lockdowns and the pandemic. This surge in user engagement and the emergence of new market players have positioned the sector as one of India’s fastest-growing industries three years down the line. Despite facing challenges, numerous promising Edtech companies are thriving in this dynamic landscape.
Shantanu Rooj, CEO of TeamLease Edtech, acknowledged the industry’s ups and downs. The pandemic propelled digital education forward by ten years, but the resulting hype also led to unrealistic expectations. Some entrepreneurs secured funding based on non-financial metrics like app downloads, underlining the importance of consistency over extreme growth.
Prateek Maheshwari, Co-Founder of Physics Wallah, compared being an EdTech entrepreneur to navigating challenges with limited information. Despite obstacles, these entrepreneurs hold the power to shape the future of education through innovation.
As the pandemic’s effects waned, the initial hype subsided, and investors turned their attention toward sustainable returns. Entrepreneurs are advised to adopt a long-term perspective and establish models that ensure viability and growth. Rooj stressed the significance of maintaining a purpose-driven approach while strategically navigating the industry’s dynamics.
In conclusion, the journey of EdTech entrepreneurs is marked by both difficulties and excitement. India’s favorable economic environment, substantial domestic consumption, governmental support, and encouraging ecosystem provide a conducive backdrop for their endeavors.