Education technology is one of the few industries experiencing a sharp upward demand, reinforcing its potential for profitability and the role it can play in societal wellbeing
The global spreading of the coronavirus (Covid-19) has required drastic regulations in an effort to contain it. One of the first compulsory measures taken by affected countries has been the closure of all schools.
The sudden adjustments of educational processes and altered dynamics between all involved parties—schools, teachers, students and parents—are challenging familiar routines and threatening crucial public objectives. Accordingly, the World Bank has commissioned its ed-tech expertise team to support policymakers worldwide in facilitating the continuation of basic education by adapting to modern technologies.
Ed-tech is essential and not just a luxury of the future
Ed-tech's practical value has hence rapidly improved from its pre-pandemic standing. Previously considered an option for quality education and a supplement to traditional schooling systems, it is now essential for preserving a progressing society.
Institutions previously working with digitalised education platforms have already benefitted during the Covid-19 crisis from their contemporary approach. These schools smoothly mastered the sudden transition to homeschooling, easing the adjustment process for students and parents. Their early investment in equipment and software and in coaching of educational staff has allowed them to continue their operations with minimal interruption.
Ed-tech is profitable and delivers crucial social benefits
Investors have long identified the windows of opportunity offered by technology in the classrooms.