The rise of ed-tech was in the making way before the pandemic aided its massive boost. Indian students and independent learners have found a gold mine in the form of this new learning method enabled by the diverse range and full stack products made available by domestic as well as international technology companies. Furthermore, the pandemic has made users well-acquainted with the idea of distance and flexible learning.
However, with the increasing acceptance of the new learning methods, ed-techs too, have started to account for the growing popularity in their revenue models. Today, the average cost of a course on any e-learning platform in India is around Rs.41,000. So, if a student ends up purchasing multiple of such courses, or even a single one, it turns out to be tremendously expensive. Thus, creating an obstacle for students to adapt to such a widely accepted and accessible learning method. On the other hand, a majority of the Gen-Z learners prefer the online courses as a part of their education. Therefore, this clearly translates to a huge gap, the size of which will only increase in the future, to be filled.
Rohan has been an education entrepreneur, leading over a hundred institutional partnerships and has worked with around 4500 students in his journey. Priyes, was a founding member at WhiteHat Jr. and has built systems that have scaled to handle over millions of students in the present day. Rohan and Priyes, together, are building Super Scholar, a managed marketplace of ed-tech scholarships. Super Scholar partners with ed-techs to create and fund a large pool of exclusive scholarships. These scholarships make up to 20-100% of the course fees. With Super Scholar, the applicant can apply for multiple scholarships and repeat the same via an all online process with immediate results. At present, the company has tie-ups with ed-techs like Vedantu, UpGrad, Skill-Lync and Edukemy.
The market seems to have a promising future with ed-techs alone clocking in a revenue of $3.5 billion in FY21. The growing accessibility of internet has pumped the number of connected users within the nation including remote areas. Students across cities and towns have expressed their desire to go beyond the necessary and formal education. India’s ed-tech student population is expected to reach 190 million by 2023. This makes the journey for ed-techs quite exciting. In addition to this, the development of features in accordance to native demand has enabled companies to reach a larger audience. Thus, a development in the favors of this space is a good signal for Super Scholar.
Students do not have a great way to fund their learning outside of debt or parental support today - this includes not just college fees, but also tuition fees, funds for any textbooks, tools, fees for online courses. Super Scholar provides a unique solution to this by providing micro scholarships. With this unique model, and the right team to execute it, 100X believes Super Scholar has the opportunity to change the face of education finance in India.
The space appears to be extremely exciting and with a product like theirs, we are confident that the team will have an even more exciting journey. We wish them all the very best!