The edtech industry in Southeast Asia has witnessed rapid growth, with nearly 3,000 startups vying to address the evolving needs of K-12 education. Leveraging technologies such as artificial intelligence (AI) and data analytics, these startups have focused heavily on enhancing learning experiences in traditional educational settings. However, as the market becomes saturated, it's clear that the future of edtech in the region lies beyond the confines of academia.
For Southeast Asia's edtech ecosystem to evolve, startups must broaden their scope to address learning challenges across industries and professions. The demand for upskilling and reskilling in today's workforce has created new opportunities for edtech to play a critical role in professional development, particularly in high-demand sectors like sustainability, digital transformation, and green technology.
One example of this shift is Skilledin Green, a Singapore-based startup from the ninth cohort of the EduSpaze accelerator programme. Skilledin Green is leading the charge in translating academic learning models into practical applications for job seekers and professionals, focusing on equipping individuals with skills for the growing sustainability sector. By providing users with a platform to build green CVs, access relevant courses, and share knowledge, it exemplifies how edtech can serve a broader, more diverse audience.
Initiatives like EduSpaze are pivotal in supporting this new wave of edtech startups. As Singapore's leading edtech accelerator, EduSpaze connects founders with schools, universities, mentors, and investors, while providing crucial seed funding. By expanding their focus beyond traditional education, edtech startups have the opportunity to drive the next phase of innovation and growth in Southeast Asia's learning landscape.
Another portfolio member is StartUp Early, a research-based scoring system, which offers multi-rater evaluations and competency mapping to assess student development. The platform engages parents and stakeholders, allowing them to properly track holistic growth for the students. It also supports transitions from school to university and university to corporate through strategic partnerships.
We speak to Hamza Ansaar, Founder at Start Up Early and Natasha Syed, founder & CEO, Skilledin Green, about the challenges and opportunities of the edtech industry in Southeast Asia.
Why did you choose to join the EduSpaze programme?
Natasha Syed (NS): By expanding on the spectrum of edtech solutions they shortlist for the programme, it is evident that the team behind EduSpaze is forward-thinking and truly understands that for the edtech landscape to continue to flourish, solutions offered should not be confined to education for young students. Learning should occur continuously throughout our lifetime, and our goal at Skilledin Green is to facilitate the journey for talent seeking a career in the sustainability industry. We are incredibly excited and honoured to be part of such an esteemed accelerator programme.
Hamza Ansaar (HA): EduSpaze provides a unique platform to connect with a diverse network of educators, edtech startups, investors, and industry experts within Southeast Asia. Being part of this network is invaluable as we aim to expand our footprint in the region and collaborate with key stakeholders who share our vision of enhancing holistic student development. The mentorship offered by EduSpaze is also a significant factor in our decision to join the program. Access to experienced professionals who have successfully navigated the edtech landscape will be instrumental in helping us refine our product, strategy, and market approach, ensuring we can meet the unique needs of the Southeast Asian market.
As a startup, securing funding is crucial for our growth and development. EduSpaze's program offers potential funding opportunities that can provide the financial support necessary to accelerate our product development, scale operations, and enter new markets. On that note, EduSpaze's focus on the Southeast Asian market aligns perfectly with our goals. The program's deep understanding of the region's educational landscape, cultural nuances, and regulatory environment is invaluable as we tailor our solution to meet the specific needs of schools and educational institutions in Southeast Asia, opening up endless opportunities.
How large is the potential for your solution in the Southeast Asian market?
HA: The Southeast Asian edtech market is experiencing rapid growth driven by increasing internet penetration, a young and growing population, and rising demand for digital learning solutions. The push towards digital transformation in education, accelerated by the COVID-19 pandemic, has created a ripe environment for edtech solutions, with the market expecting to reach USD 3.5 billion by 2025.
Schools in Southeast Asia are increasingly recognising the importance of extracurricular activities in fostering holistic student development. However, there is a lack of standardised tools to manage and measure the impact of these activities. Our solution addresses this gap, providing significant potential for adoption across the region. As such, with many schools seeking to integrate more technology into their operations, the demand for our SaaS platform, which simplifies and enhances the management of extracurricular activities, is likely to grow.
Southeast Asia's focus on improving educational outcomes through partnerships with private sector companies and edtech startups further enhances the potential for our solution. By aligning with regional educational priorities and forming strategic partnerships, we can expand our reach and impact.
NS: The potential for our solution in the Southeast Asian market is substantial. As governments across the region actively implement ESG frameworks, Green Economy initiatives, carbon market regulations, and sustainability reporting mandates, there is a clear shift towards environmentally conscious policies. This transition necessitates that businesses adapt accordingly, which is a process already underway. The demand for professionals proficient in these burgeoning fields is escalating, and Skilledin Green aims to be the premier resource for the latest expertise in these areas.
Furthermore, the imperative for continuous education—particularly within the professional sphere where new competencies must be acquired more swiftly than traditional educational institutions can provide—is another driver of market growth. We anticipate a consistent expansion of market potential in the near term. However, we project a significant surge within the next three years in Southeast Asia, as the convergence of policy changes and educational needs reach a critical juncture.
What are the gaps in the market that you are addressing?
NS: The market currently offers a plethora of educational resources aimed at bridging the green skills gap. However, there is a noticeable deficiency in structured guidance for individuals embarking on their sustainability journey, particularly regarding the prioritisation of specific knowledge areas. The vast expanse of the sustainability sector can be daunting, leading to choice overload among the myriad of available learning options. Our platform directly addresses this issue by providing job-based upskilling programs that are tailored to the needs of professionals and deliver tangible benefits to employers.
On the corporate front, while numerous job platforms cater to sustainability roles, the challenge often lies not in attracting candidates but in identifying those with the optimal blend of talent. This is especially pertinent for roles requiring emergent skills where candidates may lack extensive experience. Our unique skills-based hiring approach for the green economy emphasises a comprehensive skill score, encompassing green knowledge, soft skills, and transferable competencies. This facilitates a more informed selection process, ensuring candidates are well-matched to the demands of the position.
HA: One of the key gaps in the market is the lack of a standardised system to measure the impact of extracurricular activities on student development. Many schools rely on anecdotal evidence or qualitative assessments, which do not provide a comprehensive picture of student growth. Our research-based scoring system fills this gap by offering a standardised, quantifiable method to assess the impact of these activities.
While academic performance is often the primary focus, there is a growing recognition of the need to support holistic student development, including the development of soft skills and personal growth through extracurricular activities. Our platform not only tracks these activities but also links them to skill development, providing schools with actionable insights to enhance student engagement and outcomes.
Another gap we address is the lack of support for students transitioning from school to university and from university to the workforce. Our platform, through strategic partnerships with educational institutions and corporations, helps students navigate these transitions by highlighting their extracurricular achievements and linking them to relevant skill sets.
Schools often face challenges in efficiently managing extracurricular programs due to outdated or manual processes. Our SaaS platform streamlines these processes, making it easier for schools to manage, track, and report on extracurricular activities, ultimately saving time and resources.
In your opinion, what is the future of the edtech industry in the region?
HA: I believe that the edtech industry in Southeast Asia is set for continued growth and digitalisation. With increasing government support, private sector investment, and a rising demand for digital solutions, the region is poised to become a global leader in edtech innovation. As such, the future of education in Southeast Asia will likely involve a blend of in-person and online learning due to the development and usage of edtech solutions. Solutions that offer flexibility, scalability, and support for hybrid learning models will be critical to meeting the diverse needs of students and educators.
As the region's economies grow and diversify, there will be a greater emphasis on developing skills that align with the needs of the modern workforce. Edtech companies that focus on holistic education, including extracurricular activities and soft skills, will play a key role in preparing students for the future. This opens up more opportunities for cross-border education. Edtech platforms that can cater to this trend by offering multi-language support and compliance with various educational standards will have a competitive advantage.
NS: In my view, the edtech industry within the region is poised for significant evolution, driven by several emerging trends that are gaining traction. Foremost among these is the integration of Artificial Intelligence (AI) in educational frameworks. At present, we are merely scratching the surface of AI's potential to revolutionise learning through adaptive and personalised education strategies. The capacity for AI to tailor educational content to individual student needs promises to enhance engagement and outcomes.
Additionally, the application of Virtual Reality (VR) technology is set to expand, particularly in disciplines that benefit from immersive experiences. VR offers a safe and controlled environment for practical training, which is invaluable in fields where real-life practice carries inherent risks. This technology can simulate complex scenarios for students in medical, engineering, and other technical professions without compromising health and safety.
Lastly, I anticipate a phase of market consolidation within the edtech sector. The current landscape is characterised by a multitude of fragmented offerings. A consolidation trend will likely result in a more cohesive set of solutions that deliver comprehensive and scalable educational tools.
These developments suggest a future where edtech not only complements traditional educational methods but also provides innovative pathways to learning that were previously unimaginable. As these technologies mature and become more accessible, I believe they will play a crucial role in shaping the educational experiences of future generations.
What's next for your business?
HA: Our immediate focus is on completing the development of our product, particularly refining the basic management system and scoring mechanism. We plan to launch the full version of our platform in the coming months. Over the next year, we also aim to onboard at least 5 schools and 1 higher education institution as paying customers. This will involve direct outreach, participation in educational conferences, and leveraging our strategic partnerships to gain traction.
Following the product launch, we will focus on expanding our presence across Southeast Asia, targeting countries with rapidly growing educational sectors such as Indonesia, Vietnam, and The Philippines. We will continue to build and strengthen strategic partnerships with educational institutions and corporations, focusing on supporting student transitions.
NS: This year, our strategic focus is on expanding our geographical presence within the Southeast Asian (SEA) region and Europe, coupled with preparations for our inaugural fundraising initiative. Looking ahead, our product roadmap outlines the development of cutting-edge methodologies in teaching and learning, alongside plans to adapt our solution across various industries. We remain committed to innovation, ensuring flexibility in our approach to incorporate market feedback and proactively address emerging industry needs.
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