How a Leading EdTech Company is able to Partner with 5 Renowned Institutions for Offering E-Degree Courses
Background and Challenge
- A leading EdTech company of India, that brings transformational high-end and deep-tech learning programs to emerging and experienced professionals in partnership with top academic institutions and global corporations. The platform enables a blend of high-end academics and industry-leading practitioner experience.
Challenges Faced by Client:
- The Client wanted to have the first movers advantage in terms of offering e-degree courses in association with renowned institutions of India.
- It was difficult to achieve this milestone alone, hence, they reached out to Ken Research, so that they could tap this market in time.
EdTech Industry at Glance:
- EdTech Industry has gained immense popularity during the COVID pandemic lockdown in 2020. The shift to online learning boosted the EdTech industry, catalyzing digitalization.
- The current market size of India’s Edtech industry is ~$2.8 billion and it is poised to reach $10.4 billion by 2025.
- Online Certifications contribute ~20% of the total market revenues in India.
- There are around 9000 EdTech startups in India.
- India permits 100% FDI in the education sector under the automatic route of approval.
Approach and Recommendations
Phase 1: To identify top 20 institutions for Client
- Ken collaborated with its client in identifying a comprehensive list of top 20 educational institutions for offering e-degree course.
- In-depth and detailed discussions were carried out with the top decision making authorities of all the 20 renowned institutions of India.
- The discussion included, understanding the current framework of the institutions along with the pain points faced in imparting online courses, especially e-degree courses.
- These discussions gave the client possible areas for partnerships and growth and in the future.
Phase 2: Key Analysis of Prospect and Suspect Institutions for partnership with the Client
- The second phase of work focused on analyzing the key prospects and suspects for the client.
- In-depth analysis was done to understand the timelines of each prospective institutions who were willing to partner with EdTech companies for imparting e-degree courses within a short period of time.
- Suspect institutions were unsure of their timelines, however, they were willing to take the discussion forwards, as they believed the future of higher education is online.
Phase 3: End to end support for successful partnerships
- After identifying and analyzing the prospect and suspect institutions, Ken provide end to end implementation support for successful partnerships between the Client and all the prospect institutions.
- Also, Ken has been successful in connecting the suspect institutions with the Client for partnerships in the near future.
- Ken has provided a clear road map to the Client in order to successfully collaborate with renowned institutions for offering e-degree/diploma courses.
Result and Conclusion – The Client entered in partnership with 5 Engineering & Management Colleges
Significant Increase in Earning Potential
- The new partnerships with the institutions will enable the Client to substantially increase its userbase and revenues
Ability to Identify Loopholes in the Education Industry
- The client was able to identify the areas of improvements for the EdTech companies that would aid Institutions in imparting online education, thanks to a clear and practical prioritization roadmap, provided by Ken.
Understanding Preferences of Educational Institutions
- Customizable offerings to Institutions are now provided by the Client on the basis of the needs and preferences of the Institutions for greater success of the e-degree courses.