The Surefire Way to Introduce a Successful EdTech Startup in a Pandemic

The EdTech sector grew by 30-35 percent in 2020, and it is expected to grow by 20-25 percent by the end of 2021.

This is strong evidence that a growing number of people prefer online learning, with paper textbooks and rigid learning plans gradually falling out of favor.

Analyze Product Demand

One of the major issues raised by the pandemic and subsequent lockdowns is employees’ lack of relevant job-related skills, as well as a lack of practice-oriented learning at universities. As a result, many people nowadays feel the need to receive additional training – either to improve their hard skills or to work on their interpersonal, or soft, skills.

According to a Learning House survey conducted in 2019, approximately 63 percent of 1500 students polled enrolled in an online program rather than a face-to-face one, owing to the fact that they are much easier to fit into one’s schedule while working part-time, as well as much less damaging to one’s personal life.

Create a Methodology

As a foundation, Lectera.com, an international online learning platform with a presence in Africa, created the Fast Education methodology. This methodology focuses specifically on practical skills and how to apply them, with the goal of providing concise information in the shortest amount of time possible. With each course consisting of a set number of 10 to 15-minute long lessons, students can complete them without the need for external assistance because all materials and resources provided are simple to use.

Apart from standard courses, Lectera now provides a number of more specialized programs, such as Lectera Corp and Lectera Teens, which are aimed at corporate clients and younger users, respectively, as well as Career Development Training, which includes personal coaching. The Fast Education method was awarded the international EdTech Breakthrough Award in 2021.

Determine Customer Gains

One of the main benefits of online learning platforms is their ease of use, which allows customers to use them whenever and wherever they want. Other benefits include their time efficiency, which means that the time required to complete a single course ranges from a few hours to a few days. Online learning platforms, which provide users with a variety of useful sources and self-assessment materials, are also very cost-effective because, unlike traditional institutions, they have no rent or wage costs to cover, allowing for lower course prices in general.

Each course is available in five different languages, including English, Spanish, German, Russian, and Hindi, with an average course price ranging from $10 to $250 depending on the amount of resources used.

Face the issue and devise solutions

Lectera’s release date was originally set for early May 2020, but the team had to postpone it in order to focus on redesigning its business model and reorganizing the team’s work. One of the most difficult challenges was the startup’s international launch, which became impossible in the majority of countries, with the exception of India and a few Spanish-speaking countries that avoided full lockdowns. The team had no choice but to face the current situation in the remaining countries and work on alternative marketing and advertising campaigns that could be used there.

Analyze the Outcomes

Unlike most online learning platforms, Lectera.com was always intended to go global. Lectera has a number of domestic and international offices, including those in Moscow, Dubai, and Miami, and has social media accounts in English, Spanish, Russian, and German. Lectera received approximately $2.1 million in investment funds at the time of its launch; by the end of its first year in the market, it had an annual turnover of $5 million and a customer base of more than 180,000 people.

Though traditional university education can be a great way to gain general knowledge and some basic skills. Still, one easy and quick way to hone those skills before applying for a job, receive additional training, or change their entire career path if necessary is to use online learning platforms, which offer a diverse range of courses to suit every taste.