The Future of EdTech
The coronavirus pandemic has forced students around the world to leave school and shelter in place at their homes. As a result, many institutions are turning to smart technology in lieu of physical classrooms. As of December 2020, several vaccines for the novel coronavirus have been tested and approved for widespread distribution, but it may take several months if not longer for the world to return to relative normalcy. For the foreseeable future students and educators alike will no doubt be relying on technology to manage their studies.
The EdTech Market
Since the outbreak of COVID-19, the EdTech market has experienced massive amounts of growth as students and educators turn to the internet and smart technology to substitute physical learning institutions. Valued at $75.24 billion in 2019, the global EdTech market is expected to grow to over $234.41 billion by 2027. This dramatic increase can almost certainly be contributed to the need for smart technology during the pandemic. Most of us have been forced to distance ourselves from each other for our safety and the safety of others, making smart technology is our best option to stay connected with one another. But the integration of smart technology into the classroom environment occurred long before the pandemic as educators and policy makers recognized the benefits smart technology can bring to the classrooms. Pre-pandemic, many schools around the world had already begun to integrate things like smartboards, tablets, online testing, and other mixtures of EdTech hardware and software into the classroom. But the pandemic has accelerated the adoption of education technology dramatically and in ways that we had not planned for so many governments are scrambling to improve the online learning experience.
One method some governments are utilizing to bridge the gap in education left by the pandemic is by funding EdTech-based SMEs and start-ups. Impact EdTech is a European accelerator program co-founded by the European Commission that provides funding to start-ups and SMEs with a focus on education technology. Impact EdTech aims to accelerate the growth of these enterprises in order to reach the demand for smart technology in the field of education. Using funding provided to them by the European Commission, Impact EdTech provides business and market support to promising EdTech enterprises. Their incubator program provides resources, education, and the latest data impacting education technology in order to offer them the best opportunity to reach the market and succeed.
The program also focuses on challenging the enterprises to develop EdTech software and services that are inclusive, personalized, and skill focused. The goal is to ultimately generate the best EdTech solutions for all learners that takes into account the individual learning styles and situations of the users and provides them with the best support possible to continue to learn and grown in the classroom, even when the classroom is online.