Over the past few years, EdTech investment reached all-time highs as funds poured in through both the public and private sectors. In fact, education technology companies saw growth of over 503% in investment through 2010 to 2014, according to a CBS Insights report. In 2015, deal activity to EdTech startups reached an all-time high, as startups raked in $3.1 billion in 491 deals.
With the education market currently valued at $4.4 trillion per year, there is huge potential for companies looking to disrupt an industry and deliver new ways for students around the world to learn the skills needed for their future careers. And with EdTech poised to capture a great deal of investment in 2017 and become the biggest and most profitable digitized sector yet, a number of companies have emerged to capitalize on this opportunity and offer groundbreaking new products.
The Big Dogs
According to Investopedia, the leading tech players have acted boldly in order to grab a piece of the $13 billion EdTech market—split between an estimated $8 billion for software and $5 billion for hardware. At the forefront of companies taking advantage of the emerging EdTech market stands Alphabet Inc., leading the industry with its relatively inexpensive Chromebook laptop series. In the first quarter of 2016, Alphabet reportedly sold out of Chromebooks, while PC makers Dell Technologies, HP Inc., and Lenovo were able to sell a total of approximately 2 million units in 2016, according to International Data Corp.
The combined total of Apple Inc.’s Mac shipments over the same period lagged behind the non-Mac total at 1.76 million U.S. units. In light of a steady demand incline, it’s apparent that EdTech solutions are being quickly adopted in the classroom.
The Up-and-Comers
So, how are the smaller companies and startups doing? In January, the National Future of Education Technology Conference (FETC)—the largest national independent education technology conference—showcased 19 startup companies making their mark on the industry as part of the 2017 FETC Startup Pavilion.
We all know the education technology industry is a vibrant and dynamic one, in which new advancements to enhance the ways educators teach and how students learn seem to emerge each day. For its part, FETC’s Startup Pavilion put the spotlight on the newest entrants to the market, giving these next-generation companies the chance to showcase their cutting-edge innovations and explain to attendees how their solutions will transform technology and education at their schools.
The 19 companies featured at the FETC Startup Pavilion included:
Crossing the areas of virtual reality, e-learning, coding, game-based learning, curriculum and instructional tools, software to create more interactive and personalized learning, and more, these startups truly reflect the vibrancy and diversity that the EdTech market offers—while meeting the changing requirements of today's schools and addressing the growing demand for more digital learning solutions. Be sure to click on the company names above to be directed to their websites to learn more.
And, be sure to check out LearnLaunch’s website at http://learnlaunch.com/about-us/. They are dedicated to connecting, supporting, and growing the education technology ecosystem in order to drive innovation and transform learning—especially through their LearnLaunch Accelerator program.
Plus, if you are curious about what’s happening in the UK, check out Sonovate’s blog: Top 10 EdTech Start-Ups to Watch in 2017.
What new companies have you heard about? Feel free to share below!
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