An unusual 2020 has been a decisive moment for education in emerging economies. A footprint that has defied all models and market concepts that have been used until today. One could argue it has been a key blessing in the evolution of how we understand what will still be considered a business, and what has become a right for many.
The turning point happened when there was a common realization that, there is no longer a permanent need to transport oneself from one block to the other. The entire industry behind education has now collapsed and it all depends on how efficiently tech-companies will seize the opportunity and enhance social responsibility commitment.
Such a challenge has been predominantly evident in continents like Asia, Africa, Central, and South America. These regions host 90% of the global population living in poverty. Imagine how many children in these regions not only are not being able to go to school but do not have access to the technological equipment required to continue their education. Overnight, having a phone, a computer, or internet went from being a luxury to a fundamental need.
Nothing tech-companies did not see it coming, but these times have accelerated the structural process of education. It is now up to the governments and tech-business developers to redesign a sustainable model for the approach to education at lower-income populations, and enhance corporate social responsibility around it, to provide a greater reach of access to these products.
Seizing opportunity comes along with the challenge of providing new educational means. Imperative in the understanding of how to implement new developments for the base of the pyramid and not just the top. The immediate responses to the new home-school method were basic communication platforms that have shown negative indicators in the learning process.
Business research exposed that the online learning market just in South America will grow 10 billion dollars in the next five years. This could be considered momentum for companies who understand the need for educational platforms in a new hybrid educational system.
Even after an unusual 2020, emerging economies and their institutions continue to be interesting investment hubs at a low operational cost. A good win for tech-companies will be assembled in the ambition of seizing and the moral of attending the need of forgotten populations.