Educational tech start-ups seem to be attracting major funding in the United States, suggesting there could be an opportunity for companies to develop similar concepts in Australia.
According to the National Venture Capital Association in the US, Silicon Valley poured $177 million into education technology companies last year, more than triple the amount invested in 2007.
One example is Technology Crossover Ventures, which recently invested $125 million into online learning company K12, providing software for online learning and testing.
Rob Stavis of Bessemer Venture Partners says education is having its “internet moment”.
As more and more students gain access to broadband networks and digital devices, educational tech start-ups are becoming increasingly attractive to venture funds.
Australian start-up Eureka Multimedia is already tapping into the concept of tech-inspired education, with more than 100 software titles across categories including maths, literacy, languages and games.
Eureka Multimedia founder Tony Alevras established the business in 1999 after teaching himself computer programming, and is now looking to expand via franchising.
As technology continues to infiltrate every aspect of consumers’ lives, including education, start-ups that respond to this emerging market stand to make a healthy profit. Is there an opportunity to develop your own educational concept within the realm of technology?