New physique to advertise £45 billion edtech sector launched in London

Edtech UK established to speed up progress of UK’s schooling know-how sector

Britain’s Edtech sector progress on par with fintech

The UK is about to capitalise on the expansion in schooling know-how (‘Edtech’) via a brand new strategic physique to advertise the sector, Edtech UK, launched in London at the moment. 

In response to a brand new report by London & Companions and Edtech UK, the worldwide schooling know-how sector is value £45bn in 2015 and poised to succeed in £129bn by 20201.

Edtech is likely one of the quickest rising tech sectors throughout Britain, with greater than 1,000 start-ups throughout the nation and over 200 based mostly in London2. The sector is on a par with fintech as one of many quickest rising areas of the digital financial system, accounting for four% of all digital companies.

London is uniquely positioned to benefit from the Edtech alternative, with the current Occasions Greater Schooling World College 2015 rankings revealing that London has extra world class universities than some other metropolis on the earth (four out of the highest 30)three. The capital can also be house to established EdTech corporations akin to Pearson, Knewton and Kaplan.

Mayor of London Boris Johnson MP stated: “London has all of the components to turn into the edtech capital of the world – a thriving know-how sector, the town is globally recognised for schooling excellence and a number one monetary centre. Londoners are additionally a extremely numerous bunch from everywhere in the world and are buzzing with concepts and a want to study. I’ve little question that Edtech UK will assist drive ahead this rising sector within the capital.”

Ian Fordham, CEO of EdTech UK added: “Edtech has come of age. The UK is residence to a number of the world’s main faculties, schools, universities and schooling companies. Edtech UK shall be a pro-active organisation constructing and accelerating a vibrant schooling and studying know-how sector and main new developments with our founding companions. It’ll even be a entrance door to authorities, educators, corporations and buyers from Britain and globally” 

Within the UK, faculties spend greater than £900 million a yr on schooling know-how and UK schooling exports complete £17.5 billion a yrfour. And with the introduction of the computing curriculum into each faculty in England, the UK has positioned itself on the forefront of developments within the creation and use of schooling studying and know-how.

Lord Maude, Minister of State for Commerce and Funding stated: “Rising our EdTech supply is a precedence for this authorities. It’s constructive that Edtech UK is launching as each a strategic “entrance door” for business, funding and authorities, and a convening voice for the schooling and studying know-how sector. We recognise the significance of EdTech to make sure the UK is on the forefront of know-how and innovation and to safe sustainable financial progress.”

10 of the highest 20 quickest rising EdTech corporations in Europe are from the UK, together with fast-growing corporations akin to eSchools, Proversity and RefME5. Current examples of profitable London-based EdTech start-ups embrace Futurelearn, the UK’s first MOOC (large open on-line programs) platform and Showmyhomework which offers a cloud-based platform for setting and monitoring homework.

Showmyhomework was based in 2011 by a former Assistant Headteacher Naimish Gohil. Mr Gohil stated: “We’re proud to be a part of the unimaginable London tech scene. It hosts a wealth of alternative and expertise however there are lots of people we may give again to as properly. London is the perfect vacation spot for us to scale our enterprise”

Edtech corporations are benefitting from London’s booming tech sector and excessive focus of tech expertise, with current analysis from London & Companions and Stack Overflow revealing that London is residence to greater than 71,000 skilled builders, larger than some other European metropolis.

David Slater, Director of Worldwide Commerce and Funding at London & Companions stated: “London is already a serious draw for a number of the world’s most revolutionary know-how companies. From fintech to adtech, London is residence to a variety of excessive progress corporations which are making use of know-how to disrupt and improve conventional industries. Nowhere is the potential of know-how to rework a sector extra profound than schooling studying, and nowhere can it’s extra priceless by enabling London to develop its expertise base to satisfy the longer term calls for of enterprise.  With a various expertise pool and a few of the greatest instructional establishments on the earth, there’s arguably no larger metropolis on the earth to start out and develop an Edtech enterprise.”

Edtech UK will speed up London and the UK’s main place within the schooling and studying know-how sector. The physique launches as we speak with 25 founding members who embrace the quickest rising edtech begin up and scale up companies within the UK. Edtech UK will present a single level of entry to key business influencers, schooling establishments, applied sciences, expertise, finance and worldwide marketplaces. Members are presently comprised of startups, scale ups and international corporations throughout the educating, coaching, digital making, e-learning, tutoring, digital expertise, sectors, amongst others.

The organisation is supported by the Mayor of London, London & Companions and is endorsed by the federal government. The physique has an advisory board of leaders from the throughout the know-how sector together with: Eileen Burbidge, Ardour Capital; David Slater, London & Companions; Bethany Koby, Know-how will Save Us; Matt Candler, Faculties; and Ty Goddard, The Schooling Basis.