According to the report, the significant increase in outflow of students over the recent years is driven by better educational quality and outcomes abroad; higher standards of living; gaps in the Indian education system leading to a supply-demand imbalance and upward income mobility of Indian households.
There has been a massive increase in incomes in India over the past two decades that has translated into growing spending on K-12 education to study abroad. Additionally, the populace is becoming more aware of the benefits of studying abroad and Indians have a rising diaspora in popular destination countries which is leading to more applications abroad and student outflows.
With the advent of Covid many online companies have reported 5-10X in users. However, online platforms have room for improvement in providing better quality services. As the ecosystem evolves with more integrated offerings, online is expected to dominate in the forecast period with higher quality services and greater student awareness of their outcomes.
Student outflow abroad for higher education is expected to grow at an accelerated pace. The current journey of these students remains fairly fragmented. Thus, there exists a space for online players as well to scale up its solutions.
Here are top 5 platforms from K-12 segment to Study Abroad which are solving the student needs:
- OckPocky: OckyPocky was established in the year 2017 with a vision to target parents of small-town kids who face challenges with English speaking. The start-up decided to bridge the gap for ‘Bharat’ thereby building a better foundation for its future generations at a stage where it really matters. OckyPocky – The Octopus is based on the theme of Channapatna Toy, which assists children with their English learning needs using AI/NLP behind the screens. Unlike other video apps, OckyPocky gives feedback and allows kids to build an early year vocabulary foundation with voice, video, and vernacular. OckyPocky runs with a motto, “Skills That Matter”. With this as their philosophy, they help children develop creativity and logical reasoning besides English skills. The classes are delivered by OckyPocky’s highly competent, industry-leading teachers, who are trained in teaching.
- Toppr: Toppr is a leading education technology company focused on delivering personalized learning with better outcomes. Founded in 2013 by IIT Bombay alumni Zishaan Hayath and Hemanth Goteti, it uses artificial intelligence technology and machine learning algorithms to personalize learning for each student. Toppr has been the recipient of the prestigious IAMAI Digital Awards and EdTechX Global Awards. The platform has over 80,000 educators and over a million learning pieces
- ImaginXP: ImaginXP is a leading Higher Ed company in Future-skill that provides full-time Degree programs, for-credit and executive certifications. These are tailored high-quality industry-driven programs in the fields of UX, Industrial Design, Communication Design, AI/ML, Data Science, Health-tech, RPA, Fintech, Management, Entrepreneurship etc., within the last few years, ImaginXP has partnered with 30+ universities across the country. 1250+ working professionals act as corporate coaches and mentors on the ImaginXP MyCoach platform to train and mentor through master classes and live projects to increase student employability. ImaginXP, with its Future-skill programs in India is disrupting the Indian Higher Education sector and up-skilling professionals with its Industry relevant Programs.
- Study Group: Study Group is the leading provider of international education, driving success for their students and partners. For 25 years, Study Group has been working with leading universities across the UK, Europe, North America and Australasia. They nurture ambitious students from diverse academic backgrounds and prepare them for success at their chosen university through our on-campus International Study Centres. Their programmes provide the language, academic and social skills that students need for university progression and continued success after they graduate. Each year they enrol over 30,000 students from more than 140 countries. India has been identified as one of the top growth opportunities for Study Group in 2020 and will be an integral contribution to achieving Study Group’s Vision 2022 strategy. The mission is to deliver an additional 800 new student enrolments (NSEs), to achieve significant market growth from India in 2020 onwards.
- Leverage Edu: Leverage Edu is India’s most trusted study abroad Ed-Tech platform providing full-stack services to students pursuing international education and careers. Headquartered in New Delhi, with offices in Hyderabad, Pune and the recently launched European office in UK, Leverage Edu offers specialised services along with various tech products such as Univalley- aimed at bringing together universities and students, Uniconnect- World’s leading virtual education fair platform that helps 150+ universities connect with thousands of students, helping students apply in real time and financial services.