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Edtech Business Model

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There is nothing new about EdTech, but many people don't realize how far it has come. Coined from a combination of technology and education, the term "Education Technology" is often used to describe the use of information technology in education. To start to understand what EdTech is, think of anything that uses technology to deliver education directly to individuals in their homes.

Technology is not a new field in the world of education, although many articles online would have us believe it is. In fact, technology has been supporting the delivery of education for a long time, even before the term "EdTech" was coined.
Most people don't realize that an integrated approach to teaching and technology was already being used in the classroom setting as early as 1875, with the implementation of chalkboards and mechanical blackboards. Some would say that EdTech started in the 1990s with computer labs.

Few people realized back in the 90s that devices of the future would pack more gigabytes in a smartphone than computers. But, if these new-age devices are compact, and come in pocket-friendly outfits, shouldn't education also take advantage of these developments? It turns out that the advantage applies to education also. EdTech uses technology to deliver the highest quality education possible. And that is one of the
reasons why organizations and entrepreneurs are throbbing the gates of venture capitalists to fund the future, or shall we say the present, of 21st-century teaching, EduTech.

The business model for educational apps and organizational learning software developed and sold by EdTech companies has been one of the most luring of any business sector in

recent decades. It is a lucrative one — for innovators and investors alike —, and it is one of the few industries to survive the COVID-19 pandemic, as well as honor its promising growth. We'll cover more of this below: .
● According to Grand View Research, the global education technology market size was estimated to be valued at USD 89.49 billion in 2020, and it is expected to reach
$483.42 billion by 2028, growing at the rate of 19.9%;
● The global digital expenditure in the Education Technology industry would be valued at $341 billion by 2025, according to HolonIQ, a trend that is driving the formation of new ed-tech startups and kids' education app startup ideas. And even then, this overall expenditure amounts to a mere 4.4% of the growth value that the industry would make during the projected time.
Education is changing fast, and there are a lot of opportunities for the right people. Do you now see how EdTech could be a window of opportunity for technology companies? EdTech is a sector where, if one does not take advantage of the opportunities, they could miss out on a lot. Opportunities and risks in this sector must be carefully considered, though.

It is great if you are full of EdTech as well as education startup ideas. However, such ideas have to be approached systematically. You should be wary of the deadly Fear of Missing Out, i.e. FOMO syndrome. If you are searching for an education app development company or freelance educational app developers, you must first categorize your business model according to those of education startups.

Also, before agreeing to the terms and conditions outlined for an EdTech company, entrepreneurs must look into answers to the questions below. The answers also double as the response for investors who are looking to fund an EdTech model. Such

questions to ponder include:
● Are the e-learning app development services you are considering skilled in new technologies such as AI, ML, and robotics support?
● Do the education app developers have the professional expertise needed to integrate conversational AI and AR/VR features into the app?
● And most importantly, what does the portfolio of the education app development company have to say about them, their expertise, and experience? Take a look at their portfolio to see if their past work is a good reflection of what you expect for the project.

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