Utkarsh further asked Namita, what are the criteria for entrepreneurs working in this field, particularly in non-metro areas? What suggestions do you have for them?
Highlighting her organization’s thesis-based approach to investors in some sectors, Namita said that “the time for mobile vernacular has come” and that it’s the right time to disrupt the Indian EdTech sector, especially in non-metro cities.
“Results-based skills must be a priority for entrepreneurs,” she added. “A balanced, ambitious approach is needed to cater to the massive EdTech sector in the country.”
For Enzia, said Namita, "the definition of entrepreneurs and their results matrix is most important. It is essential to understand how entrepreneurs have planned their business models and their objectives in their journey of building long-lasting businesses."
She further added, "The greatest learning from offline education world is that the biggest institutions have been built on their reputation to help people achieve their dreams. This will also be true for edtech, present-day businesses and startups. It will be important to define and measure real outcomes in a simple, agile and robust manner; it will be necessary to leap from creating a business to a long-term business."
"Abhishek Gupta (co-founder and CEO, NavGurukul) - agreed with Namita, saying that “entrepreneurs should focus on life outcomes rather than learning outcomes.” He explained with an example: ...watch the complete panel discussion
In the same vein, Madan Padaki (President - TiE Bangalore and Founder - 1BRIDGE), giving the example of LabIn App innovation, mentioned some key points to remember for those wishing to work in the EdTech sector. “Entrepreneurs need to understand there are five players - the user, the beneficiary, consumers, customers, and influencers. Entrepreneurs need to work on meeting their demands and needs, and configure the business model accordingly.”
The panel also responded to the following questions:
- Why do most of today’s EdTech space focus on test preparation and the switch from offline to online education?
- Is it because of quick money, the demand, or is it the easiest way to solve problems?
- What are some ways we can partner with Government schools? How to enter the space? What is the bureaucracy interested in? What challenges do you face?
- What is the investor mindset for an EdTech B2B (Institution sales driven) startup? Given that all successful public EdTech businesses are well funded because of their non-linear growth curves, as expected from a sales-oriented EdTech organization?
The panelists closed the webinar by discussing their perspectives on building their EdTech solutions/services vs outsourcing, especially in the initial years.
Abhishek Gupta responded by saying that one key factor in running a business is that “you must partner on technology” if you have the option. In terms of building your EdTech products or solutions vs outsourcing, this entirely depends on organizational capability. E.g., we had enough engineering soft wares, so we had it to build EdTech solutions in our way, but some entrepreneurs fundamentally have more exposure to non-technical skills and find it easier to outsource for technology and focus on other skills.”
Watch the detailed panel discussion as the speakers respond to the questions from the moderator and the audience. Get access to the investor-entrepreneur insights, webinar polls & stats, questions and key takeaways.
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