Major Challenges In The EdTech Industry & How Teachstack Offers Viable Solutions

What common challenges do most EdTech startups face?.

If technology has benefited any sector the most, it’s definitely the education sector.

Conventionally, all Edtechs are trying to solve 3 major pain points – 

  1. Competing in a traditional industry where the people are relatively adamant about conventional methods.
  2. Data Analytics
  3. Bridging the communication gap between product and user

From the introduction of content management platforms to the launch of interactivity apps, EdTech startups are gaining wide popularity, and rightly so because they have made learning and education so much fun. 

At Teachmint, with the objective of digitizing the global education ecosystem, we bring you Teachstack – a proprietary video conferencing technology that is uniquely customized for educational purposes.

But why Teachstack? Why should you choose to opt for this product?

The Challenges Of EdTech And The Solutions We Offer

Although everything might look great at first glance, the EdTech industry is facing significant challenges. On top of that, many entrepreneurs and startups claim that they understand the education system and its challenges but in reality, some of these problems are too cumbersome and need a different approach to solve them.

According to the latest report by Researchandmarkets.com, the EdTech market size was valued at USD 254.80 billion in 2021 and is expected to reach USD 605.40 billion by 2027, growing at a CAGR of 15.52% during the forecast period. With the emergence of newer forms of technology like AI and machine learning, the digital form of education is expected to benefit a wide user base of learners across various age groups, socioeconomic statuses, and geography.     

This suggests that the issue doesn’t lie with the lack of coordination with the teaching space. Rather the real EdTech problems that we highlighted in the previous paragraph are explained below with detailed solutions that Teachstack offers – 

1. Competing in a traditional industry where the people are relatively adamant about conventional methods –  The conventional educational system involves a brick and mortar institution with all the standard physical elements that apply e.g. chalkboard, benches, attendance, teachers, and students coming to the class, etc. Replacing a legacy that has been hundreds of centuries-old with something completely new – Of course online learning is bound to face some obstacles.

Solution: Teachstack, unlike many standard video conferencing tools, offers a cutting-edge classroom experience so that any user will feel like they are sitting in the classroom – without the whitewashed walls! With a host of features like a whiteboard, poll, raise hand, Picture-In-Picture and many more, get the feel of a real live classroom anytime, anywhere.

2. Data Analytics-  Effective business solutions should include the understanding of what results and measurable benefits the solution will bring to the customer. In this regard, a hot-potato question arises about analytics, how exactly the benefits will be assessed, and what metrics will be taken into consideration. 

According to PioGroup research, only about 7% of Learning Management Systems (LMS) and platforms provide AI-based analytics. Advanced analytics is one of the most demanded features in the tech solutions market. Analytics and data collection should be optimized for a few personas: the student, the admin or the teacher, and the heads of the organization. This will allow organizations to build competitive advantages, automate processes and select more effective training programs.

Solution: Teachstack offers you the Dashboard – a comprehensive feed system where you can track and monitor individual as well as class performance, attendance, generate performance reports, etc. With the Dashboard, you c.an get deeper insights into classroom stats/analytics like

  • The number of sessions conducted for any particular duration. 
  • Total number of recordings 
  • The total duration of classes( no of hours ) 
  • Learning hours (no of hours attended by students) etc along with the list of all completed classes.

3. Bridging the communication gap between product and user: Whilst a SaaS founder might know how to make a great product, a lack of knowledge about the product’s target audience will get it nowhere. You need to differentiate between these various audiences, and listen to what they have to say to truly optimize your product and team’s ability to acquire and retain customers. Lack of openness and collaboration with instructors is another reason why many education businesses fail. These firms aim to replace instructors and other educational aspects. So they don’t talk about their work or ask for input from professors or others.

Solution: With an online learning solution like Teachstack by Teachmint, the product has been built after extensive study and feedback from market surveys and analysis. 

Teachmint provides the infrastructure for education through innovative and powerful SaaS solutions which are solving a long-standing challenge of combining the features of a classroom with the added benefits of Learning Management Software (LMS). 

Teachstack empowers Edtechs with our proprietary, state-of-the-art plug-and-play live class solutions.

The offering also reduces the go-to-market time for edtech players by helping them integrate native classroom infrastructure with minimal code – a common challenge for many newly founded or small-scale Edtech startups.

4. Setup & Deployment: With most Learning Management Systems or LMS software, the problem is mostly integration. One of the barriers blocking the successful completion of online courses is the lack of face-to-face interaction that students have with the instructor and their peers. Video conferencing can help bridge this gap, but the inability to schedule or launch conferences and invite students to participate from within the learning management system (LMS) itself makes the process cumbersome, discouraging many instructors from even trying.

Solution:  Teachmint has found a solution to this problem through Teachstack, our proprietary video conferencing API solution that is fully customizable and easy to use as well as integrate with any LMS system. It has been built in-house and optimized as a ready-to-use plug-n-play video API solution that can run on low bandwidth and consumes relatively low data over time. Teachstack adds real-time communication capabilities to your app/website that works on top of an open standard called WebRTC(Web Real-Time Communication). It supports video, voice, and generic data to be sent between peers.

5. Customer-Centric Ecosystem – One of the hottest trends in IT business development now is building a customer-centric ecosystem. Now the “Customer — first, product — second” approach is the facilitator of good experience. Customer centricity is a buzzword now and it seems that businesses shift their operating models to better client service. 

Solution – Teachstack sets apart a unique video conferencing platform that stays true to providing royalty to the king i.e. the customer. In contrast to generic video conferencing apps, where any user can access a meeting with the link provided, Teachstack generates random links for different levels of users. In addition, these links can be accessed by only users registered in the system to access the classroom. Unauthorized users cant access the provided links.

Conclusion

Modern-day conferencing apps are essential for business purposes but do not always serve the need for EdTechs. The ease of use with LMS and a customizable plug n play deployment solution can help scale your business solutions better. With Teachstack you can avail yourself of the present-day advantage.                                       

References

  1. https://www.globenewswire.com/news-release/2022/02/01/2376551/28124/en/Global-EdTech-Market-Outlook-Forecast-Report-2022-Market-Size-was-Valued-at-254-80-Billion-in-2021-and-is-Expected-to-Reach-605-40-Billion-by-2027.html 
  2. https://piogroup.net/blog/top-5-challenges-for-edtech-startups-solutions-to-them 
  3. https://adamfard.com/blog/5-edtech-challenges 
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