Have you ever heard of the term "edutech"? It refers to an attempt to solve educational challenges using IT skills by combining education and technology. As the school-age population continues to decline, various learning methods and efforts are being pursued in the field of education. According to the Statistics Korea, the school-age population in South Korea has decreased from 9.95 million in 2010 to 8.04 million this year. Some projections suggest that by 2060, it will decrease by nearly half. Due to this, there is a continuous argument that the paradigm of future education needs to be changed to enable individuals to demonstrate their competency-centered abilities. In order to address these educational issues, coding-related companies that have recently gained attention are attracting attention. In this week's startup trends, let's introduce a startup that is challenging the field of education to you, which can be considered an edutech company. Let's take a look.
[Trend 1: Leading Coding Education in South Korea]
‘D.Lab’ is a company that provides coding education for elementary, middle, and high school students. In August 2017, D.Lab set a record for the highest amount raised in the education sector through Wadiz, a crowdfunding platform, with the participation of parents of students studying at D.Lab. Starting with its first branch, D.Lab has opened eight campuses from Sudong in Daegu to Dongtan, Mokdong, Jamsil, and others, where students continue their learning. After the success of the first funding round, the company's revenue increased by 440%, and the number of students also increased by 300%. D.Lab aims to help students create meaningful things for people and society through coding education.
On the other hand, D.Lab's business model consists of the ‘Code Academy,’ a regular coding education course; the ‘Junior Startup,’ where students who have completed the program create their own products and services; the ‘WGG (Wow Global Geeks),’ where students collaborate with foreign students on a global stage; and the ‘Great Daddy,’ an entrepreneurial design service for parents preparing for the second half of their lives. D.Lab presents a standard education model based on advanced countries and is currently conducting its second funding round on Wadiz. Let's take a closer look at this company, which aims to provide problem-solving through coding and entrepreneurial experiences for investors interested in coding education.
[Trend 2: Learning Coding with Enjoyment]
"Blue Communication" is a company that provides software coding educational tools and programs that enable children to feel interested and engaged, so that their creativity can contribute to a better future. With the software coding education brand called AsomeIT, the company is attracting attention not only in South Korea but also overseas, partnering with the leading education brand Daekyo and signing a contract for supplying teaching materials and educational tools for after-school education starting from the first semester of next year. Blue Communication is also participating as a service provider for the "Software Future Development" project organized by the Ministry of Science and ICT, local governments, education offices, and professional institutions in Incheon. In addition, they are pursuing a contract with Indonesia's largest telecommunications company, Telkom, and have signed an MOU with the Indonesian Teachers Association, planning to introduce regular programs by region.
Meanwhile, Blue Communication's AsomeIT has developed and provided a highly scalable integrated educational environment that satisfies the price while addressing the existing issues in coding education, which is based on physical computing. According to a research firm, the global edutech market is expected to grow from $220 billion in 2017 to $430 billion in 2020. It is estimated that South Korea alone will reach a market size of 10 trillion won in 2020. Analysis suggests that coding will become one of the largest segments of private education expenses, following English and math. If you are an investor interested in the edutech field, take a closer look at this company, which makes coding learning easy and fun while adding elements of enjoyment.
[Conclusion]
There is an African proverb that says, ‘It takes a village to raise a child.’ This means that the field of education cannot be filled solely by the efforts of one person, parent, or teacher, but requires comprehensive support and assistance from the surrounding community. The most essential skills for the next generation are self-directed learning and creative thinking, constantly communicating, contemplating, and finding answers on their own. In the startup field as well, various attempts and efforts combining different technologies are ongoing in line with this trend. D.Lab and Blue Communication, as mentioned earlier, are also making their mark in the edutech field and growing. If you are an investor who is sensitive to change and concerned about real education for yourself and your children in the coming future, pay attention to the companies introduced today.
[김대균 와디즈 리서치센터 연구원]
[ⓒ 매일경제 & mk.co.kr, Prohibition of unauthorized reproduction and redistribution ]
(2019.12.13)
https://mirakle.mk.co.kr/view.php?year=2019&no=1046395
Have you ever heard of the term "edutech"? It refers to an attempt to solve educational challenges using IT skills by combining education and technology. As the school-age population continues to decline, various learning methods and efforts are being pursued in the field of education. According to the Statistics Korea, the school-age population in South Korea has decreased from 9.95 million in 2010 to 8.04 million this year. Some projections suggest that by 2060, it will decrease by nearly half. Due to this, there is a continuous argument that the paradigm of future education needs to be changed to enable individuals to demonstrate their competency-centered abilities. In order to address these educational issues, coding-related companies that have recently gained attention are attracting attention. In this week's startup trends, let's introduce a startup that is challenging the field of education to you, which can be considered an edutech company. Let's take a look.
[Trend 1: Leading Coding Education in South Korea]
‘D.Lab’ is a company that provides coding education for elementary, middle, and high school students. In August 2017, D.Lab set a record for the highest amount raised in the education sector through Wadiz, a crowdfunding platform, with the participation of parents of students studying at D.Lab. Starting with its first branch, D.Lab has opened eight campuses from Sudong in Daegu to Dongtan, Mokdong, Jamsil, and others, where students continue their learning. After the success of the first funding round, the company's revenue increased by 440%, and the number of students also increased by 300%. D.Lab aims to help students create meaningful things for people and society through coding education.
On the other hand, D.Lab's business model consists of the ‘Code Academy,’ a regular coding education course; the ‘Junior Startup,’ where students who have completed the program create their own products and services; the ‘WGG (Wow Global Geeks),’ where students collaborate with foreign students on a global stage; and the ‘Great Daddy,’ an entrepreneurial design service for parents preparing for the second half of their lives. D.Lab presents a standard education model based on advanced countries and is currently conducting its second funding round on Wadiz. Let's take a closer look at this company, which aims to provide problem-solving through coding and entrepreneurial experiences for investors interested in coding education.
[Trend 2: Learning Coding with Enjoyment]
"Blue Communication" is a company that provides software coding educational tools and programs that enable children to feel interested and engaged, so that their creativity can contribute to a better future. With the software coding education brand called AsomeIT, the company is attracting attention not only in South Korea but also overseas, partnering with the leading education brand Daekyo and signing a contract for supplying teaching materials and educational tools for after-school education starting from the first semester of next year. Blue Communication is also participating as a service provider for the "Software Future Development" project organized by the Ministry of Science and ICT, local governments, education offices, and professional institutions in Incheon. In addition, they are pursuing a contract with Indonesia's largest telecommunications company, Telkom, and have signed an MOU with the Indonesian Teachers Association, planning to introduce regular programs by region.
Meanwhile, Blue Communication's AsomeIT has developed and provided a highly scalable integrated educational environment that satisfies the price while addressing the existing issues in coding education, which is based on physical computing. According to a research firm, the global edutech market is expected to grow from $220 billion in 2017 to $430 billion in 2020. It is estimated that South Korea alone will reach a market size of 10 trillion won in 2020. Analysis suggests that coding will become one of the largest segments of private education expenses, following English and math. If you are an investor interested in the edutech field, take a closer look at this company, which makes coding learning easy and fun while adding elements of enjoyment.
[Conclusion]
There is an African proverb that says, ‘It takes a village to raise a child.’ This means that the field of education cannot be filled solely by the efforts of one person, parent, or teacher, but requires comprehensive support and assistance from the surrounding community. The most essential skills for the next generation are self-directed learning and creative thinking, constantly communicating, contemplating, and finding answers on their own. In the startup field as well, various attempts and efforts combining different technologies are ongoing in line with this trend. D.Lab and Blue Communication, as mentioned earlier, are also making their mark in the edutech field and growing. If you are an investor who is sensitive to change and concerned about real education for yourself and your children in the coming future, pay attention to the companies introduced today.
[김대균 와디즈 리서치센터 연구원]
[ⓒ 매일경제 & mk.co.kr, Prohibition of unauthorized reproduction and redistribution ]
(2019.12.13)
https://mirakle.mk.co.kr/view.php?year=2019&no=1046395