EdTech Startups: Five Common Mistakes and How to Avoid Them
Elliot Levine, an education technologist with three decades of experience, has identified frequent errors made by emerging edtech companies. Drawing from his vast experience, Levine provides invaluable advice:
Question the ‘Why’: Edtech startups must understand the core reason behind their offerings. Ensuring that their product or service has a compelling reason to exist in the market sets the successful apart.
The Right Solution: Companies should provide solutions that cater specifically to their clients’ needs. A generalized approach can be a grave error. If the solution doesn’t address educators’ primary concerns, its adoption remains doubtful.
User Adoption Challenges: Levine emphasizes the importance of considering teachers’ time. With a reference to a learning system demanding 80 hours of training, he stresses the significance of user adoption. Edtech companies should think of themselves as professional development entities as successful adoption can make or break their product.
Valuing Relationships: Establishing strategic partnerships is crucial. Levine critiques those who merely chase MOUs or big-name affiliations without substantive follow-through. Understanding a client’s objectives and expectations is key to fostering genuine, proactive partnerships.
Backing Sales: Sales are the backbone of a new company’s success. It’s vital to identify and retain top sales talent. Without a proficient sales team, funds will continue to be drained without profitable return.
Levine concludes by emphasizing the role of genuine innovation, stating that transformative learning technologies are the future. He is slated to share his insights at the upcoming EdExec Summit by Tech & Learning.
Source: Peterkin, I. (2023, July 18). 5 Mistakes That New Edtech Companies Make. Tech & Learning.