“What attracts investors to the edtech industry the most today is the enormous potential for change that is inevitable and will take place in the coming years. Anyone who has not yet started to think about it is already late” – believes Jarosław Sroka, Sebastian Kulczyk’s InCredibles program coordinator.
The report prepared by the Startup Poland Foundation in cooperation with InCredibles states that the interest in innovation in education in Poland is not high, both on the part of schools and investors, but this will change in the coming years.
From the data quoted in the report “Do Polish EdTech companies have a chance to change the face of their education?” shows that in 2020 venture capital funds invested over $ 10 billion. in start-ups from the edtech sector. This is twice as much as in 2019. The European market has also received a large injection of capital in recent years, reaching a record amount of $ 711 million. in 2020. This is 13 times more than in 2013. Poland also achieved record results, incl. thanks to Brainly, who raised $ 81 million, and is the world’s largest social platform to help educate students.
Investor interest means the global value of the edtech industry will increase from $105bn to $350bn in just a decade (2015-2025), and the innovation delivered will continue to transform the educational landscape in countless ways.
“The challenge is huge, because how to seriously think about the new education system in the world today, which we are not able to define in five or ten years. This descriptiveness must be stimulated in thinking about the new education system, which cannot be limited to a new form of contact between the school and the student, i.e. the use of Teams or Zoom. It is about something completely different: about creating new competences that will allow students to appear in a competitive, global future” – says Jarosław Sroka. – It seems to me that processing, acquiring knowledge by students, and even forgetting it will be based on completely new principles. If we ignore this when thinking about the edtech industry or the education system in general, then we are in a lost position.
Experts emphasize that there are a few lessons to be learned before the Polish edtech industry. First of all, start-ups should learn to actively communicate with schools and parents, convince them to modern solutions and show the benefits of using them in the education of children. The second area is communication with investors.
Polish investors are cautious about financing this sector for the time being. Most of the domestic edtechs obtain funding from foreign entities. The PFR Ventures data summarizing VC investments in 2020 shows that edtech was a relatively niche area of investment and was not in the top sectors in terms of the level of financing.