EdTech Startups – The CZAR Of COVID-19

The term ‘silver lining’ has never been in play too much for the EdTech companies in the history as it is now. As they say – Lucky in cards, unlucky in love, the deadly coronavirus has really come through to bring prosperity in the e-learning landscape. Companies like upGrad, Byju’s, Toppr, Coding Ninjas, etc. Are witnessing massive growth.

Coding Ninjas and Byju’s observed a 150% growth, with the admission class ranging from students to working professionals. More than 4000 new people have been on boarded by upGrad in March’20 and is planning to double the figure by April’20. The enquiries have gone up as much as 60%. Toppr has seen a 100% month-on-month increase in the number of students attending the live sessions. With the physical learning vanishing into the thin air, e-learning facilitators are stepping up to capitalize on this opportunity and maximize on profits. These companies are also encouraging free webinars and live sessions, something distinctive to contribute their part to the society during this stressful time.

The Indian economy has crippled like a deck of cards, and this is just thebare beginning. IMF has speculated India’sGDP to grow at 0% in 2020, which initially was to expedite at the rate of 2.5%. The retail sector is worst hit with low consumer spending resulting in lower demand. Hospitality is another sector which badly got affected as travellers are bound to stay home. This has led unicorns like OYO loose their valuation of billion dollars. The loss of businesses seems justified amid the global lock-down.

One unsung sector which has lost major momentum turns out to be – Higher Education. The sprawling campuses which used to be filled with the hustle-bustle of students from cafeteria to the sports ground, from promenade to the infinity corridors, remain vacuous.

With the brake on economic activities, the supply chain has lost its track. Firms cannot hire students anymore; let alone they’re rescinding offers. Unicorns are sending employees on furlough. And pay cuts are the icing on the cake.

The students are having a love-hate relationship with the curriculums. The face of the professors become poignant. Graduates are facing stress as they cannot justify the ROI of the high fees they pay. The fees can be somewhere from US$30,000 (INR 22,84,575) to US$50,000 (INR 38,07,625), including all the expenses ranging from dorms, materials, and supplementary services.

Scenario in India: IIT Ropar is already offering pre-recorder videos to the students. IIT Kharagpur is live streaming classes for students, whereas professors at various IIMs are holding Zoom sessions. The idea behind this might be the most noble, but online lectures experience do not seem to have an ennobling experience.

When a student pays a hefty amount to attend a graduate school, it is not just for the academics. The fee is paid with a view to enjoy the lush campus, flirt with that crush you encounter and enjoy that Vada Pav at the canteen. Not to mention the fact that with classroom education shut, the students not only miss the classes from one of the most revered professors but also are losing out on live brainstorming and networking sessions from industry practitioners and experts. The same institutions are like a sword of Damocles hanging over student’s head. When the dust settles, the institutions might have more answers than just Zoom classes, EDX courses and digital resources.

After all is said and done, what can be done to muster the confidence within? The institutions can form a syndicate to urge the MNCs to keep their end of the bargain by handing the offer letters again. Apart from the employment point of view, the institutions can provide with extended dates for the convocations which are being deferred. Psychology and cognitive classes must be taken by the professors to help the students during this dire circumstance. The professors ought to take pot luck by interacting with the students and lower the tempo of wild thoughts.

The students on the other hand should not knock against depression and ill thoughts. They can kit out themselves with new skills which can pad not just their resumes, but also keep them busy. Also, in the words of Dean Koontz – “Never leave a friend behind. Friends are all we have to get us through this life and they are the only thing from this world that we could hope to see in the next.” If you’re not feeling well, a friendly hand is always the right one.

Along with their own stress, the students must also acknowledge the efforts of front-line forces trying to contain this deadly pandemic. The health-workers, security personnel, and essential products vendors who have stood in good stead, putting their life on the line to serve the society.

If we all take up this gauntlet with courage and patience, we’ll have a thousand stories in India and abroad which will be studied by our own generations ahead, in future. The most overwhelming one would be – ‘We saved the world without wearing any cape!’.

‘Life starts all over again when it gets crisp in the fall.’

Via – Md. Mozammil