I’ll be visiting London and BETT at the end of March (probably 22nd -24th). As for so many of us this will be my first trade fair since the pandemic and I’m really looking forward to joining in real life again (never expected to be this enthusiastic about a trade fair, not even BETT 😊). It does feel like we are now emerging from the restrictions of the last couple of years and I’m excited to get out there again.
I’m especially interested to meet people from companies with strong market positions, from scale-ups and from investors in the education, edtech, science and healthtech spaces during my trip to London.
As of March I have some availability for advisory and interim work and have extensive skills and experience in leadership/leading change, digital/transformation and commercial/strategy work. I have deep knowledge and networks across the European education sector.
I’m also open to become a Non-Executive Director of such an organisation, as long as this doesn’t conflict with existing work. Very flexible in terms of location.
Venture capital funding tripled over the previous year, reaching some $2.5B.
Average deal size also tripled to $8.4M, indicating increasing maturity of the sector.
Corporate Learning attracted the most funding ($926M), followed by K-12 ($659M) and Life-long/Consumer Learning ($652M), with Higher Education ($289M) and Pre-K ($136M) trailing. One possible reason being that B2C and B2B segments are sometimes seen as easier to sell into than B2G.
Six European markets raised more than $100M, up from just one market previous year.
There were six deals in excess of $80M in 2021, up from one in the previous year
The biggest round in Europe last year was in K-12 at Vienna-based tutoring company GoStudent which is currently driving a very rapid international expansion.
(Online) tutoring has long been well represented amongst global edtech unicorns, with the heavy Chinese contingent prospering until the local market crash last year due to regulatory reforms. However, until recently online tutoring had not really taken off at scale in Europe, arguably because the European landscape is fragmented and both the quality of state-provided education and the cultural preference for equity, high.
Market for supplementary education likely to grow
I believe it’s likely that the global market for supplementary education (leaving China aside for now) will continue to grow strongly in the coming years, because:
a) It works
+ Positive impact on learner outcomes* + Potential to support teacher retention by reducing after-hours work for existing teachers hence making the profession more attractive + Potential to enable recruitment as teachers of university students, former teachers and other professionals, by first (re)-igniting their interest as a tutor,
b) There is growing demand for it:
+ More children attend schools than ever before, expanding the addressable market + There is increasing competition for top universities and jobs + Lower fertility rates boost spending per child + Growth in the number of families where both parents work, reducing the time available to help children with homework.
Beware pernicious effects
However, there are some potential pernicious effects should be mitigated: – Rising inequality, since the rich can better afford it than the poor – Unreasonable pressure on students – Competition with schools for teachers, potentially undermining public education systems.
In some European countries including the UK and The Netherlands, additional public funding was made available for supplementary education during the pandemic. I am interested to learn what impact these interventions have made and whether the combination of core and supplementary educational provision in the future might be a path to raising average learner outcomes and supporting disadvantaged students?
I’m interested to learn any insights you might have on this subject. Feel free to drop me a line.
*The outcomes of the research are startling: an average student under tutoring performs about two standard deviations above the average performance of a conventional class. Or put another way, an average student following a tutoring program outperforms 98% of students in a conventional classroom! https://lnkd.in/gDYHazw
I’ve been keen to learn and to help others to grow as I look for a new job.
Edtech has been a natural focus and I’ve connected with about 60 edtech ventures across the spectrum. How inspiring and energising! In the meantime, I’ve invested time and money in four of them, in all cases because of their learning impact, business potential and highly talented leadership. From a personal perspective also because I can add value through my expertise, experience and network.
Kognity, provider of digital courses for K-12 (Stockholm)
School Day, data platform for student well-being (Helsinki)
Edurio, provider of school improvement diagnostics (London)
Hypocampus, digital courses and platform for higher education (Gothenburg)
Go with the flow
I’m advising various generalist financial sponsors as well as two industry-focused edtech funds. This is a great way to work with excellent people on the latest deal-flow in the industry from early stage to IPO.
Sparkmind.vc is a Helsinki-based venture capital fund, investing in early stage edtech
Emerge Education is a London-based venture capital fund investing in the future of higher education and the future of work.
I’ve been working a strategy consultant and coach to two scale-ups in higher education, which has been an excellent opportunity to help them with their growth strategies and to learn more about that market segment.
Always learning, right now I’m working on a MicroMasters in Educational Innovation and Improvement on edX (for the learning) and various courses on MasterClass (for the fun – beautiful design and production quality). If only the two could find each other …
Until I find the next big assignment, I will have some availability again as of December. I’m especially looking for consulting, advisory and interim work mainly in the following areas:
Sector: education, science, healthcare, medicine
Expertise: digital transformation, leading change, commercial, strategy
If you have a challenging assignment and if you think I could help your organisation to prosper, feel free to reach out at email@example.com.