Tuesday, August 24, 2010

Opportunities in Education Sector in India: Part I

Industry: Education
Segment: K-12

The K-12 segment of education industry in India has a few un-met and un-tapped opportunities. The most ignored members of this segment are the teachers.

Though on one side there is increase in use of multimedia for improving the teaching aids for the students, but there is not much attention paid towards empowering the teachers to make their contributions more effective.

Anyone who has been in teaching profession in the K-12 segment, will know
the time that is spent by the teachers in:
  1. preparing lesson plans
  2. correction of notes/worksheets/assessments
  3. preparing assignment sheets
  4. preparing assessment worksheets
  5. Preparing grade sheets
If these tasks can be streamlined and digitalised, then the teachers will have more free time on their hands. This will give them more bandwidth for teaching purposes.

The gap is imminent for this target customer - the teachers of K-12 segment of Education Industry.

Possible solution - An Entrepreneurial Opportunity:

Business Model: Collaborative online platform in Education Vertical [K-12 segment]

Value Proposition:
Content: Teachers should be able to prepare the lesson plans, worksheets, assignments etc. and store them in retrievable formats.
Context: Teachers should be able to share information online (seek and give) based on subject matter.
Community: There should be facility to form a professional networking, where they should be able to seek guidance, references and study-material.
Personalization: It should give freedom to the teachers to personalize their pages based on features like updated lesson plans, display/hide references, updated profile information, display email etc. They should be able set up evaluation score-cards for their students. The platform should customizable as per school requirements. In short, the teacher should be able to identify herself with her online teaching suite, no matter whcih school she teaches in.

Scalability: High.
With India’s $20 billion (Rs 93,401 crore) kindergarten to 12 (K-12) education sector anticipated to grow almost twice as fast as the economy itself, the teacher population will also grow. Add to this, the potential of converting the existing teacher population into customers.

Since a scalable model is what attracts investors, therefore odds are in favour of this business model receiving funding too.

Closest competition: Educomp's WizQ.com
WizQ mostly encourages online tutoring and creating and sharing tests.


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