EDTECH, A PARADIGM SHIFT IN CONVENTIONAL LEARNING METHOD TURN OUT A BIG BUSINESS OPPORTUNITY FOR THE INDIAN UNICORN BYJU’S

Abstract

For centuries, education was delivered through a conventional learning system of “Institutional based learning”, but with the enormous development in informational technology similar to other business sectors, it also revolutionized the old pedagogy of delivering and receiving education. Thus, education with informational technology, formally known as “EdTech'' makes quality education readily available to the masses by increasing affordability, accessibility, and availability at much lower cost and time. Along with this, EdTech breaks the cultural, geographical, and language barrier which in turn gives birth to many business opportunities. Looking at the various positive attributes like flexibility, cost-effectiveness, and customized learning many EdTech companies emerged and thrive in the education industry. Through this research work, I'll explore and analyze the various factors thatcontribute to the global exponential growth of an Indian Edtech company “Byju’s'' which was established in 2011, but became more popular in 2015 when Byju’s launched its own learning app with a goal to serve a bigger audience. Since most of its target customer base lived in remote areas of India and quality education accessibility and affordability are their major concerns. Right from the launch of its app, Byju’s gained immense popularity and since then it never looked back and emerged as India’s first EdTech company gaining unicorn status in just three years of its launch in 2018. By working on this research paper, I’ll dig deeper into the various factors that contribute substantially to Byju's global success and also, I will try to explore Byju's business strategy that the company developed by using various management tools and theories that significantly help the company to differentiate its position in the industry, despite being having the limited financial resources and intense competition.