How are EU EdTech Startups Coping with the After Effects of the Pandemic?

Before the global pandemic caused parents to become instructors and schools to go virtual, the edtech industry was ready for a revolution.

FREMONT, CA: Every aspect of education, from early childhood through adult learning and job development, has been drastically altered due to the coronavirus pandemic. The pandemic has sped up the adoption of digital technology in education, with projected global edtech spending to increase by 15 per cent to Euro 6.4 billion in 2020. The pandemic forced the closure of every school in 190 nations, affecting 90 per cent of all pupils enrolled in nearly 1.6 billion people worldwide.

In this regard, edtech firms support the evolution and adaptation of educational institutions. Edtech startups are providing primary and secondary school course materials solutions using intelligent textbooks, compelling video content, slide displays, activities, and assessments. But long before the global pandemic caused parents to become instructors and schools to go virtual, the edtech industry was ready for a change.

Investors poured money into edtech businesses due to the quickening shift to online learning in the hope that the educational landscape would be permanently transformed. Edtech companies raised USD 16.1 billion in venture capital in 2020.

The transition from traditional learning to online education was quite significant. The majority of our growth during this period came from there. Parents who found themselves in the position of teachers played a large part in online education's momentum. As many were uncertain about how the pandemic would play out, edtech platform usage initially decreased at the start of lockdowns. However, it immediately recovered and has continued to be strong even after schools reopened.

On the instructor's side, European EdTech companies received four times more applications from one day to the next only because so many young people were seeking remote positions offering online instruction is a rather alluring option. On the parent side, however, the firms noticed a decline in the number of searches for tutoring services due to lower academic pressure and less frequent tests, which ultimately increased the cost for the business to bring in new clients.

With the growth of online courses, from traditional schools and income-sharing partnerships that essentially consist of study now, pay later, or boot camps to prepare people for new careers, adult learners now have much easier access to remote learning.

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