- Aspire Circle, Impact Leadership champion and advocate released a report titled Investing for Impact: Education, Skills & Edtech
- The report advances ten disruptive ideas laying out a roadmap for the future of learning, skilling and work in India
- The report has been put together by some of the leading education players, social entrepreneurs, technology mavens and new economy thinkers
- Supplemental and extra-curricular education, social-emotional learning and upskilling to form an integral part of the future learning process
- Edtech and expansion of affordable loan platforms to usher in greater democratization of education
- India has the world’s largest population of about 500 million in the age bracket of 5-24 years who would potentially require education
- Over 1.5 million schools make up the Indian education system
October 2021, New Delhi: Even as the pandemic has precipitated an unprecedented jump in online education and job upskilling uptake in the country, a report titled Investing for Impact: Reimagining the future of education, Skills & Edtech has been released by Aspire Circle, the foremost Impact Leadership champion and advocate in the country.
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Setting out 10 disruptive investment ideas which can bring about a transformational change in the way Indians receive their education as well as post-education skilling and training facilitated and catalyzed by new-age educational and training technologies – the report points a way forward for developing and building human capital in keeping with the needs of the 21 st century India. The ten ideas which have been identified in the report can be spelled out as the following sub-segments: Technology-enabled K-12 Education; Online Test Preparation Platforms-led Inclusion & Affordability; Supplemental & Extra-curricular Education; Teacher Training & Development; Affordable Education Loan Platforms; Gig Economy & Unbundled Micro tasking; Affordable Student Housing; Innovative Finance in Education & Skilling; Micro and Alternative Credentials for Employability Skills and Social and Emotional Learning.
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Some of the leading participants who contributed to the putting together of this report are as follows: SS Mantha, Former Chairman, AICTE; Navtez Bal, Executive Director, Microsoft; Anurag Pratap, VP, and CSR Leader Cap Gemini; Safeena Husain, Founder & ED, Educate Girls; Gayathri Vasudevan, Chairperson LaburNet; Mark Parkinson, CEO,
CIA First School; Nirav Khambhati Managing Partner, Kaizenvest; Osama Manzer Founder, DEF; Raj Gilda Founder, Lend-a-Hand; Ramya Venkataraman Founder & CEO, CENTA and Vikas Goswami, Head of Consulting, Boundless Environment Resource Solution.
This was the second in a series of reports by Aspire Circle as a part of the larger and overarching program of generating 100 Impact Ideas for India’s Inclusive Growth with India’s largest collaborative research initiative involving over 200 experts with an eye on shaping India’s Impact Economy.
In the 21 st century, education and learning require an altogether different approach from those of the earlier times. Given that education and skilling constitute the engine that drives our economy and no less the society forward, it is time that we came up with innovative ideas with a view to give the right stimulus and direction to this sector in the
country. While technology may appear distant for a vast number of learners in the short- term, in the long run, it will certainly become a bridge between the so-called ‘haves’ and ‘have-nots’, all aspiring for education and learning. In fact, education will become more holistic weaving within itself supplemental and extra-curricular education as well as social-
emotional learning as an inalienable part of the whole learning experience. With the new edtech sector serving as the backbone, the ten investment ideas advanced in the report would help the country fully realize what is called the human capital potential of 1.35 billion Indians. In other words, the much-touted demographic dividend would no more
Reimagining the future of education within the realm of speculation and estimates, but can really be achieved on the ground, said Mr. Amit Bhatia, Founder of Aspire Circle & Creator – Impact Future Project.
While Over 1.5 million schools make up the Indian education system, the country has the world’s largest population of about 500 million in the age bracket of 5-24 years who would potentially require education, according to estimates.
Safeena Husain, Founder & ED, Educate Girls said, “During Covid-19, almost 150 million girls were affected directly with school closures – with almost 90 million girls across rural India without any significant learning opportunity. If technology-driven access to quality learning is provided to these girls backed by adequate investments in affordable education loan platforms, student housing, extracurricular and supplemental education, and social and emotional learning as brought out in this report, it will go a long way in unlocking the impact that is much needed at this point.”
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Nirav Khambhati Partner Kaizenvest said, “The ongoing pandemic has mercilessly stolen invaluable classroom years from well over a billion students around the world including India, severely denting their future income potential. Reimagining the future of education overcome this massive loss, there is an urgent need to comprehensively rethink the way we deliver education and training to our students and youth. While edtech is one inextricable component, we have to remember that the future of work itself is set to undergo massive change. While training of future teachers preparing them technology-ready would be an important step in terms of education, the need for the acquisition of micro and alternative credentials outside the mainstream education would reign supreme from the new-age career standpoint. All of these and many related ideas have been detailed in the report.”
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