How edtech innovation could change global learning habits long after Covid-19
- China tipped to lead global growth in use of technology in education to meet industry’s huge, untapped potential and surging demand sparked by pandemic
- Experts at virtual Edventures Global Business Acceleration Summit call for change in mindset of educators and start-ups to offer more effective solutions
Since the start of the Covid-19 pandemic it has become a necessity for millions of students to resort to online learning for the first time.
While education technology (edtech) businesses have responded rapidly to meet growing demand from educators and parents worldwide, this change in focus represents only a fraction of the industry’s overall expenditure.
Less than 4 per cent of the US$6.3 trillion spent on global education this year has gone on digital fields, HolonIQ, a global edtech intelligence platform, reported – highlighting the huge, untapped potential. Demand for the use of innovative edtech solutions will only continue.
China is poised to lead global growth in the edtech industry, Bill Ning, founding partner of Blue Elephant Capital – a Beijing-based venture capital investment company – told Hong Kong’s inaugural online edition of Edventures Global Business Acceleration Summit held from November 3 to 4.
Ning, who was one of the international experts and investors offering insights into edtech developments at the virtual event, also said Hong Kong was emerging as a major hub for edtech start-ups.
The summit was co-presented by Esperanza, a non-profit organisation founded by John Tsang, Hong Kong’s former financial secretary, and Cyberport at the Cyberport Venture Capital Forum, an annual tech investment event.
