Year Ender 2023: Why ed-tech startups need to press the reboot button

It has been a topsy-turvy year for the ed-tech industry. Not only funding declined by 89% this year, but investment in mature rounds including Series C, D, E, F, among others, reduced drastically. What this means is that early-stage funding has gone up. For instance, Saarthi Pedagogy has received seed funds worth $3,700,000, as per data from Traxcn, a start-up data platform. Similarly, only a clutch of companies have managed to fund Series A and B.? “Investors are in search of companies with resilient business models that significantly influence the target market. Early-stage enterprises must showcase potent and impactful product solutions that effectively address the needs of learners. Companies addressing profound challenges and demonstrating the potential for revenue and profits will secure funding,”? Balu Ramachandran, founder and CEO, OC Academy, told FE Education.?

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Year ender 2023:? NEET PG eligibility criteria to lower to zero or not to lower!?

It has been a roller coaster ride for medical students and the education system in India. What’s more, perhaps the ordeal may continue if the previous year’s (2023) format is followed, which saw the lowering of the eligibility criteria to zero percentile for NEET PG and PG Diploma courses and if not, even then challenges will remain galore. “Top-performing students from the open category will be deprived of opportunities, potentially exacerbating the commercialisation of medical seats, particularly in private colleges,” a senior medical professor, on the condition of anonymity? told FE Education.

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GradRight claims to process loans worth $2 billion in last two years; aims to further expand into international markets?

GradRight, an ed-fintech firm, claims to have reached out to about two lakh students from tier-2 and tier-3 cities. Approximately 90,000 students actively engage with the platform to determine their optimal college choices and identify suitable loan options, it stated. GradRight claims to assist students throughout the process of filing applications besides? loan procedures, providing complimentary access to its SelectRight and FundRight platforms. These tools offer insights into programme selection, facilitate communication with faculty and alumni and aid in the evaluation and selection of suitable education loan options, Aman Singh, co-founder, GradRight, told FE Education. “Every student across the country can leverage GradRight to make informed decisions, breaking free from geographical constraints. With just a click, they gain access to education financing organisations and can secure unsecured loans ranging from an average of Rs 20-70 lakh,” he said.

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Year ender 2023: Funding in the ed-tech sector plunges 89% this year as the number of mature rounds reduces

One of the struggling sectors in India, not all seems to be well for the ed-tech companies. Investments in the sector declined? 89% to $0.277? billion between January-December (till date) from $2.5 billion in CY22, revealed data from Tracxn, a start-up data platform. Interestingly, when compared with investment in CY21, when the industry received a total funding of $4.1 billion, it had been a downward slope. Nonetheless, experts remain optimistic that the sector will bounce back in no time.? “With about 250 million students in the country and the associated large opportunity, it is just a matter of time before the ed-tech sector bounces back and we see unicorns in this space.?

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Bihar education department cracks down on government teachers offering private tuitions

The Bihar Education Department has resolved to take strict measures against government teachers engaging in private tuition. K K Pathak, the Additional Chief Secretary (ACS) of the Education Department, issued a directive to district magistrates, urging them to obtain written assurances from all private coaching centres within their jurisdiction, confirming that no government school teachers will conduct classes in these establishments, according to an official statement.

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IIT Mandi invites applications for short-term certificates in Machine Learning and IoT Automation

The Indian Institute of Technology Mandi, in collaboration with Himachal Pradesh Kaushal Vikas Nigam (HPKVN), is gearing up to launch a series of training programmes starting from January 15, 2024, through its Centre for Continuing Education (CCE). These cost-free initiatives are designed to impart valuable skills and knowledge to participants, promoting professional growth and contributing to the overall enhancement of education and vocational training in the region, according to an official release.

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LPU student’s start-up receives Rs 1.70 crore from Google Cloud

Rounak Adhikary, a tech-focused student pursuing a BSc in Design at Lovely Professional University (LPU), has developed a cloud-based operating system with the goal of eliminating hardware dependency across various devices. Adhikary’s project received a substantial boost through a $200,000 (approximately Rs 1.70 crore) infusion in infrastructure support from Google Cloud, according to an official release.?Adhikary’s cloud-based operating system is crafted to oversee the operation, execution and processing of virtual machines, servers, and infrastructures operating remotely. His efforts have attracted attention globally within the tech community, earning recognition in events such as “Together 4.0” by the governments of India and Canada, as well as “SeedStars” at IIT Bombay, “Million at Stake” at IIT Kharagpur, “Ideastorm” at IIT Roorkee and “Disrupt” at IIT Guwahati, the release noted.

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IIT Gandhinagar calls applications for Masters in Cognitive and Brain Sciences

Indian Institute of Technology Gandhinagar (IIT Gandhinagar) is inviting applications for its Masters in Cognitive Science programme that will be offered by its Department of Cognitive and Brain Sciences, as per the official announcement from the institute.?

As per the institute, for interested students, a written examination will be conducted via online mode while interviews will be conducted in offline mode.?

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Bihar Education Department deducted salaries of 12,987 absent teachers; suspends 39 and dismisses 13 over violations

In the last six months, the Bihar Education Department has taken disciplinary actions against 12,987 school teachers who were discovered absent during inspections. Salaries were deducted for these individuals, and an additional 39 teachers were suspended for various violations related to teaching. Furthermore, 13 educators have been dismissed from service due to allegations of unauthorised absence ranging from six months to two years and violations of teachers’ recruitment regulations, according to an official statement.

The education department in the state is under scrutiny for recent circulars related to teachers. On December 26, the Raj Bhavan in Bihar issued a directive to the chief secretary, urging immediate ‘corrective measures’ against what it deemed as ‘unconstitutional’ and ‘autocratic’ orders issued by the higher education wing of the education department in recent times, the statement mentioned.

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Blue Nudge introduces environmental education programmes by integrating AR and VR

Blue Nudge, an Education to Action (EdAct) platform of Blue Planet Environmental Solution has launched Environmental Studies Programmes by integrating Augmented Reality (AR) and Virtual Reality (VR) technologies into its teaching methodology, as per the official announcement.

As of now, Blue Nudge claims to use these augmented reality tools in the ‘Climate Change’ workshop in DAV Faridabad and claims that around 30 students between from class 6 to 8 participated in that project. The three-day workshop included an induction / objective session, in which students gave insights about the atmosphere and planet, as mentioned in the release.

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Delhi Government seeks best-managed school for Excellence in Education Award

The Delhi government is set to recognise the school that demonstrates the most exemplary management committee at the annual Excellence in Education Awards. The selection of the winner will be based on criteria including its influence on student attendance and responsible utilisation of funds, according to an official statement.

To vie for the ‘School with Best Management Committee Award,’ schools are required to submit their applications through the head of school by January 2nd, 2024, according to officials from the Delhi government. The successful candidate will be chosen following a thorough evaluation of their performance during the academic session of 2022-23, the statement mentioned.

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