Edtech growth in china has expanded exponentially, now accounting 60 percent of the global investments in the field. This has led to china surpassing the US in this field based on investments and new startups.
China has officially surpassed the US in educational technology (Edtech) investments. They have also become the number one breeding ground for Edtech companies and new start-up focused on education. This rise in Chinese Edtech is greatly attributed to Chinese parents who are anxious about ways to give their children an edge in the competitive education system in China.
The exponential growth of Edtech in China
The country is now accounting for 60 percent of the total global investments in the field. This is a very significant number, which means shows the global shifts the Chinese education system has been undergoing the past few decades.
The investments are going towards artificial intelligence in the Edtech platforms and also the creation of new tools that are tailored to improving the educational experience. This has led to an increase in access to high-quality education by Chinese students. The shift is projected to reshape the country’s educational environment.
The experience is being turned as interactive as possible. The online tutors are committed to providing an experience comparable to that one in a physical class. This is according to Chinese students who have participated in these online classes.
The Chinese largest Edtech platform, VIPKID, has created a platform that emphasizes the students’ experience. It matches students with over 90,000 English teachers from the US and Canada. The lessons are designed in such a way that the teaching is realtime and teachers and tutors can interact one on one with each other.
The platform is not cheap either, charging $24 for a 25-minute interaction with a tutor. The company boasts of 700,000 students and has an evaluation of $3.5 billion. Over 1,000 engineers are employed in the edtech company.
VIPKID is a clear example of how this industry is benefiting from this rise in technology in the tech industry. The growth is also projected to continue its growth with a projected 260 million Chinese expected to be using Edtech by 2022, according to the Shanghai-based I-research consulting group.
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