EdVentures GBA Fellowship

EdVentures Global Business Acceleration (GBA) Fellowship offers Korean Edtech startups an all-expenses-paid 5-day program to the Greater Bay Area, the Silicon Valley of Asia. The Fellowship is designed for growth-stage education ventures that have demonstrated success in their home markets and are considering international expansion. Therefore they are looking to recruit Edtech startups in Korea to join their competition. The EdVentures GBA Fellowship will select 12 fast-growing EdTech startups from all around the world to join the program in Hong Kong. The program will take place from Nov. 3-7, 2020. In addition, these 12 startups will be connected with potential investors, partners, and customers in the education and corporate sectors in Hong Kong and Southern China. Furthermore, they will be able to get first-hand information on the business potential of this fast-growing region and grow their network.

GBAThe Future of EdTech in South Korea

With many private English academies (Hagwons) having to close down due to COVID-19, there has been an acceleration of the adoption of e-learning technologies. This includes remote teaching and corporate training. Edtech has been around for decades and South Korea has embraced EdTech as education is a major priority in Korea. Therefore, many Edtech startups have risen in South Korea. They have played a major role in supplementing offline learning with more engaging multimedia content. Soon there a majority of the e-learning will take place in the cloud through interactive live classes, online labs, and online assessments. Furthermore, with the adoption of 5G technology, this form of e-learning in Korea will be seamless and will deliver great learning experiences and outcomes.

Innovation through Technology

However, there is still room for innovation. A more personalized learning experience can be achieved. Therefore, students in Korea will now be able to learn at their own pace. Therefore, private learning institutions like Hagwons will need to adapt to tailor their curriculum for each student. This is not possible in a physical classroom setting.

For a more personalized learning experience, AI will need to be involved. AI can determine a student’s level of engagement through facial recognition. In addition, the student’s level of engagement can be monitored to keep the student’s focus. Technologies like AI and machine learning will lead to new innovations.

Impact of COVID-19 on Businesses in Korea

COVID-19 has affected Hagwons and most offline schools in Korea, including colleges and universities. Many will not be fully up and running until there is a cure, vaccine, to fast effective testing. For now, e-learning is a clear option to ensure continuity in learning. Therefore, Korean companies have already started cutting non-essential employees. Therefore these employees will need to build their skills through online courses. Online learning platforms are now more critical than ever. There will be a strong need to pick up relevant skills through industry certifications.

More and more traditional education businesses are looking to partner with Edtech startups in Korea. They know that the adoption of learning online through the use of technology will accelerate like never before. You will start to see more and more colleges and universities in Korea offering more and more online courses. The delivery of learning will be the main focus moving forward.

Why Korean EdTech Startups Should Register for EdVentures GBA Fellowship

EdVenturesJoining the EdVentures GBA Fellowship program will be a great opportunity to learn and get advice/support from an international panel of judges. Korean EdTech startups will get access to investors, local partners, and education and corporate clients. Edtech is one of the hottest industries in Asia. COVID-19 has accelerated the growth with schools, institutions, and higher-learning looking to technology to solve many issues brought up by COVID-19. The education market in Asia is huge mainly because of a cultural emphasis on education in most Asian countries. In fact, the APAC region is expected to see the highest growth rates in corporate e-learning.

The  EdVentures GBA Fellowship offers an in-depth look at opportunities in the GBA, as a launchpad to the global market, a fundraising center, an R&D testbed for Asia, and a global supply chain management center. 

Benefits for Fellows include:

  • A fully funded 5-day business development and professional development trip to Hong Kong and 2 other cities in southern China.
  • Opportunities to access funding and grants.
  • An immersive introduction to the Greater Bay Area (GBA) with organized tours of major cities and startup facilities in the region
  • Advice and support from a distinguished international panel of judges, comprising investors and funders, educators, and corporate leaders
  • Facilitated access to investors, local partners, education authorities/institutions, and corporate clients 
  • Professional advice regarding global expansion via the GBA on topics such as market entry, taxation, legal/regulatory, intellectual property, and supply chain management
  • International marketing exposure through the program’s global media partners

This kind of access will take years, however, through the program it can happen within days. Getting international exposure will be crucial for Korean Edtech Startups to get investments outside of Korea. Korean Edtech Startups can register for the EdVentrues GBA Program here.