Back to school
The classroom sure has changed since we were at school! The blackboard no longer takes centre stage. There is a new teacher in town, and the £45 billion global EdTech sector is shaking up learning as we know it.
Considered to be one of the fastest growing tech sectors, a report by London & Partners and EdTechUK expects this digital revolution to be worth around £129 billion by 2020.
Teachers are crying out for new tech teaching tools and schools are spending big on classroom technology. With schools’ yearly spending hitting over £900 million, there has been a boom in EdTech companies competing for some very lucrative contracts.
In the UK, the education and learning sector includes around 1000 EdTech startups, which together contribute more than £1 billion to the UK economy.
It is little wonder that investment in these EdTech startups has also seen a steep rise. In fact, EdTech has been given the prestigious title of ‘the next FinTech’ as investment is expected to hit $252 billion over the next few years.
There’s an investment boom going on
With students turning their back on the standard textbook learning in favour of online and apps, VCs are betting big with EdTech. There is a focus on backing digital startups that are shaking up the education environment, and classrooms will never be the same again.
Education app platform Zzish recently closed a £1.5million round of seed funding to help with international expansion. According to CEO Charles Wiles, gamifying student learning will help produce “the next generation of teachers, engineers, mathematicians and scientists that will power the innovation of tomorrow.”
Wiles continues “We are pioneering EdTech to curtail the critical teacher decline, address the disengagement problem, democratise quality education and ‘solve’ the funding conundrum,”
Named in a top ten list of EdTech startups to watch in 2017, Gojimo has used its funding to become one of the most popular revision apps in the UK. Offering over 40,000 practice questions across a range of GCSE and A-level subjects, progress tracking, and checking off topics, the app has built a strong following.
It is not just older students reaping the benefits of EdTech, children as young as three are getting in on the action. Part of the EdTech UK incubator, Dream Learners was set up by primary school teachers and uses the bedtime routine as the perfect time to teach.
The multi-platform app filled with animated stories has been created that broadly cover the curriculum and use the 90 minutes before bedtime to learn. Aimed at children aged 3-9, this EdTech is not leaving little learners behind.
No turning back
There is a new tech-savvy generation growing up in schools today and they are leaving the classroom (and the teachers) behind. Education is going digital and schools are investing heavily to keep up.
EdTech is transforming the way we learn from our first day at school through to our last day at university, and more and more tech companies are ready to educate the future of the UK.
The tech sector has fallen in love with learning, and it doesn’t look like they will be falling out of love anytime soon.