Despite the fact that the EdTech business is still dominated by men, women are squeezing their way in to obtain a piece of the pie. According to one survey, at least one woman is on the founding team of 30% of education startups, which is roughly double the rate of firms founded by women in other digital industries.
EdTech has progressed from being only an alternative mode of instruction to being mainstream! The pandemic ushered forth a slew of changes across sectors and businesses. Technology has become vital in remote locations. Technology adoption has become critical for all organizations, allowing them to sustain operations while remaining competitive in the market.
The education sector is no different, and it has embraced digital change quickly. Despite the epidemic and remote locations, this is currently the most essential feature of the “new-age” learning solution, and it has also aided students’ learning and development processes.
“The more similar the investment partners, the weaker their investments’ success,” according to a Harvard Business School analysis on the male-dominated venture capital business. In fact, companies that increased their share of female partners by 10% witnessed a 1.5 percent increase in total fund returns and 9.7% more lucrative exits on average each year! This is linked to the concept that “different teams make better judgments.”
Another study by McKinsey & Company discovered that for every 10% increase in gender diversity, earnings before interest and taxes increased by 3.5 percent.
We may deduce from this data that women executives have a significant measurable influence on a company’s bottom line!
There’s no denying that society is evolving toward gender equality, with women having access to same professional possibilities as their male counterparts. At the same time, we can’t deny that women are expected to wear numerous hats while pursuing their professional aspirations. They are required to manage their family and take care of a variety of household duties. This aids in their capacity to swiftly adjust to new settings and to address real-life issues and obstacles more successfully.
According to a recent study conducted by The Open University in collaboration with the Indian IT trade association NASSCOM, India ranks first in the list of women in IT, with a higher percentage of women in tech (35%) than their female counterparts in the United Kingdom (17%) and the United States (20%)! The findings also suggest that India’s IT industry is attracting and keeping more women, as well as giving them greater leadership opportunities. According to NASSCOM, women make up 20% of the C-suite in over 60% of Indian IT companies.
EdTech companies have a large number of female founders. Lynda Weinman co-founded Lynda.com (now LinkedIn Learning), which LinkedIn purchased for $1.5 billion in 2015. Byju’s, co-founded by Divya Gokulnath, is the world’s most valuable EdTech business, according to a recent TechCrunch analysis, valued at over $18 billion. In a recent $300 million fundraising round, it was also dubbed India’s most valuable business (surpassing Paytm for the top position). Daphne Moller co-founded Coursera, one of the earliest EdTech startups, and GSV, one of the top EdTech VC firms, is also run by a woman, Deborah Quazzo.
Traditional sector distinctions have blurred as technology has grown pervasive. Organizations that stick to outdated architecture will be left behind. Women’s capacity to empathize and seek a middle ground becomes a great advantage at this juncture. If technology is to be used effectively, major choices must be taken with a balanced viewpoint.