UK leading the way for educational technology, data shows
The UK ranks number one in Europe for venture capital and angel funding in the educational technology sector, according to London EdTech Week co-founder, and IBIS Capital Partner Benjamin Vedrenne-Cloquet.
The edtech sector is one of the fastest-growing in the UK, with angel capital and seed angel investors providing £178 million.
The industry has reached the same number of companies as the fintech sector - with over 1,200 edtech companies based in the UK, and is growing by 22 per cent year-on-year.
It is anticipated to reach £3.4 billion by 2021, while edtech companies are expected to grow by 29 per cent per year, over the next couple of years.
According to data from leading edtech investment company IBIS Capital: the UK has a significant amount of investors that are looking to put money into edtech. There are more than 180 institutional investors and 1,800 individuals, that together have over £20 million, and are actively searching for investment opportunities.
Among the educational technology companies in the UK that are looking to expand globally are BridgeU and EduMe. BridgeU focuses on higher education, and EduMe helps people develop new skills.
Commenting on the UK’s edtech sector, Vedrenne-Cloquet said: “There are enormous opportunities for the UK in edtech. London is home to some of the start-ups with the most potential for global expansion, and also home to many heritage brands that are early adopters of this technology.''
''Edtech and digital delivery are true opportunities for heritage UK education brands to shine globally. The UK’s education exports industry is worth GBP 17.5 billion to the economy, and the UK is the second-largest destination for international students.”