Exeter-based edtech startup Sparx is receiving an injection of €22 million from Oxygen House, an ethical and impact-centric group of companies. Founded in 2010, Sparx is an in-class and homework solution that uses machine learning, personalised content, and data analytics to help teachers be more effective and improve learning outcomes for students in maths. Its first product'Sparx Maths', which focuses on 11 to 16-year-old students, was launched in September 2018 and combines high-quality content, including 32,000 carefully designed maths questions and an adaptive AI technology platform. Its platform provides daily insights into class and student progress, allowing teachers to quickly identify trends. The initial investment from Oxygen House has helped Sparx to work closely with schools to research, test, and develop an approach to learning maths which is highly engaging.
In spite of the fact the EdTech market is predicted to reach $252 Billion by 2020 and that over $1 billion was invested in the sector in the US this year alone, many promising initiatives in the sector fail to make any real lasting impact. This is something that Vikas Pota is looking to change by putting education at the heart of the technology discussion. After eight years as CEO of the Varkey Foundation, Pota has now been appointed as Group Chief Executive of Tmrw Digital, Sunny Varkey's new holding company which will oversee all his EdTech businesses and investments, as well as set up a research institute dedicated to finding ways of leveraging technology to democratize access to education. My role at the Foundation taught me how incredibly complex EdTech is. You have this fundamental conflict between a really innovative group of technology entrepreneurs and a schooling system that dates back to the first industrial revolution."
Education technology has the power to revolutionize education but with the integration of artificial intelligence, experts believed that it can be more beneficial, particularly in higher education and online learning. In an era where modern technology has become a valuable influence in the lives of humans, it's safe to assume that technology will be able to enhance the learning experience of educators and students, especially in higher education and online learning. As experts combined education technology (EdTech) and artificial intelligence (AI), a powerful tool to potentially transform education has been born. Due to the pervasiveness of technology today, the way students communicate and entertain themselves have changed. But some experts believed that the implementation of education technology alone in schools, colleges and universities across the nation is not enough to revolutionize education.
Technology is everywhere in our lives today-- the workplace, in our homes, on our person and, now, in our schools. It figures that given the digital transformation of workplaces across industries-- and the increasing automation of our businesses-- the next generation of workers are early immersed in a culture of experimentation and innovation with emerging technologies and software. But that's not the sole aim of technology for education-- a growing market more commonly referred to as EdTech. It also offers an alternative to'traditional' classroom learning methods, engaging students which new, innovative formats, and the ability to tailor approaches to fit the individual student. According to a forecast laid out by Knowledgemotion CEO David Bainbridge in Forbes, the EdTech industry will reach a global value of US$252 billion by 2020.