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SPONSOR:Â Betteru Education Corp. Connecting global leading educators to the mass population of India. BetterU Education has ability to reach 100 MILLION potential learners each week. Click here for more information.
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Education 4.0: How Edtech Startups Are Changing The Face Of Education In India
The new generation of learners has more intense demands from education in India
This need is now being answered by edtech startups
AR/ VR, Blockchain, STEM Labs are transforming the traditional methods of education
The landscape of formal education in India is based on a relatively
archaic model. Over the last 150 years, not much has evolved. The
students still attend brick-and-mortar establishments for schools in
order to educate themselves. The system is largely exam-driven,
theoretical and impractical. The emphasis is on scoring rather than
learning and subsequent application of the knowledge. The learning
resources are static in nature and the students need to be
self-motivated to be successful.
However, things are changing
with the advent of technology. The new generation of learners has more
intense demands from education. This need is now being answered by
edtech startups who are leveraging technology like augmented reality (AR), virtual reality (VR), mixed reality (MR) to provide simple yet effective education solutions.
Modern Technology Can Revolutionise The Classroom
The beauty of technology like AR, VR or MR lies in its ability to
give an immersive experience. It is cutting a frog in a lab without
actually cutting it. More affordable software and hardware are enabling
AR and VR technology to be cheaper and more accessible, thereby offering
more effective education in India.
There are several Indian edtech startups providing educational
solutions today. AR is helping students gain experiential learning by
merely using a mobile phone. It is providing an interactive learning
experience by use of tools like AR books. Students can get a 3D view of
different objects which helps in better understanding of the topic. It
also enables game-based learning. For example, AR startup NewGenApps
uses augmented reality to create mobile game-based learning for
children.
Another organization Veative brings VR into education by developing
VR content on various topics such as the law of friction in physics for
high school students. A company called I Love Mondays is using VR to
give students an actual experience of their preferred career
before-hand. For example, if a student is interested in medicine, she
can put on a VR headset and experience a surgery being conducted by a
doctor in a hospital.
Vamrr is aggregating content from AR, VR and MR content providers so
that an educator can go online to asset libraries comprising content
from AR, VR, MR providers and let the students gain expert knowledge
from multiple disciplines.
Innovation And STEM Labs
STEM and Innovation Labs are being developed in several schools. It
aims at teaching subjects like science, technology, engineering and
mathematics in a practical and scientific way. It is a far cry from the
ironic use of traditional chalk and board used in conventional patterns
of education in India for teaching subjects like computers and
technology.
It focuses on hands-on learning by building projects on scientific
topics. For example, students learn more about the properties of a
material by using it in a project rather than reading about it in a
text-book. It helps to learn to grow multi-fold and students retain much
more than textbook learning.
Artificial Intelligence For Teaching And Detection
Imagine using artificial intelligence to analyse a child’s drawing
and detecting early signs of developmental delays. It would help
customise learning approaches for children leading to better learning
outcomes.
Khan Academy is a great example of using artificial intelligence to
provide teaching assistance. Homeschoolers and teachers can get
real-time feedback on performance using its intuitive technology.
Another AI project OpenEd.ai is promoting an open-source AI tool that
lets users visually create a world by describing it in words using deep
image captioning.
Use Of Blockchain In Education
With its immutability and decentralisation, Blockchain
can help remove paperwork, reduce costs and connect students with
instructors via live sessions. Instructors can get paid through
cryptocurrencies governed by smart contracts. Certificates of completion
can be verified through blockchain making a prospective employer trust a
candidate’s credentials. This will lend credibility to online learning.
According to a Google and KPMG report, India’s e-learning market will
grow to $1.96 Bn by 2021. Edtech startups can play a pivotal role in
making this happen. There were 2400 edtech startups in India in 2012 and
since then roughly 200 startups open up every year catering to needs of
education in India. With several startups already taking the lead, the
education sector is all set for a revival in India.Edtech startupsEducation In IndiaNewGenAppsSTEM LabsNote: The views and opinions expressed are solely those of the
author and does not necessarily reflect the views held by Inc42, its
creators or employees. Inc42 is not responsible for the accuracy of any
of the information supplied by guest bloggers.Source: https://inc42.com/resources/education-4-0-how-edtech-startups-are-changing-the-face-of-education-in-india/
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These universities include the Indian Institutes of Technology in Kharagpur and Madras and the Indian Institute of Information Technology Design and Manufacturing in Kancheepuram.
Also involved are the National Institute of Technology in Silchar and the National Institute of Technology in Bhopal.
Their centres will offer courses related
to AI, for example, in deep learning foundations and applications,
reinforcement learning, probabilistic reasoning, predictive and
prescriptive data analytics, system identification, physical
cybersecurity, and digital image processing.
India’s acts and statutes that govern
these institutions allow them to freely collaborate with institutions
and universities across the world for academic and research.
In this year’s interim budget (2019-20),
the government allocated IN ₹93,848 crores (approximately US $13.15
billion) to the education sector, which is 3.3 percent of the total
budget expenditure.
Although there is no clear budgetary
allocation plan, a part of the finance will go toward implementing AI
courses in schools. The Minister of Corporate Affairs
said that the government plans for a National Programme on Artificial
Intelligence, which will be catalysed by the establishment of the
National Centre on Artificial Intelligence as a hub, along with other
Centres of Excellence (CoE).
He said nine priority areas have been identified. Also, a national AI portal will be developed soon.
The potential use cases include
augmenting and enhancing the learning experience through personalised
learning, automating and expediting administrative tasks, and predicting
the need for student intervention to reduce dropouts or recommend
vocational training.
It said that an effective education
sector can transform a country through the development of human
resources and increased productivity.
Particularly in the context of emerging
countries, the level of education and literacy of the population plays
an important role in its development and the overall transition to an
advanced economy.
In India, this is amplified because of
its large youth population. Estimates indicate that currently over half
the population of the country is below the age of 25. As the adoption of
digital means of gathering data increases, it is important that these
methods are effectively leveraged to deliver improved education and
teaching, the document said.
Albeit slowly, the rate of adoption of
technology in education is improving. It is estimated that schools
globally spent nearly U $160 billion on education technology, or
‘EdTech’, in 2016, and forecast spending to grow 17 percent annually
through 2020.
Private investment in educational
technology, broadly defined as the use of computers or other technology
to enhance teaching, grew 32 percent annually from 2011 through 2015,
rising to US $4.5 billion globally.
The document said that the adoption of
new technologies is still lacking, however, often attributed to the
unwillingness of teachers and students.
A recent survey found that the lack of
technology adoption in schools can be largely attributed to the absence
of teacher training.
While 83 percent of the teachers
surveyed use computers, it was primarily limited to audio and visual
display or student practice. Only about 41 percent use technology for
tracking student data and only 27 percent for participating in forums.
Another study found that trained
teachers are more likely to use technology in the classroom. 88 percent
of trained teachers reported making use of available computers as
compared to only 53 percent of untrained teachers.
It said that AI has the potential to
bring about changes in the sector by supplementing pedagogy and
establishing systems to inform and support decision making across
stakeholders and administrative levels. However, the implementation of
AI must be preceded by efforts to digitise records of teacher
performance, student performance, and curriculum.
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Announce the launch of their Learner Assistant which supports learners as they explore and access educators’ content from around the world through a Google Chrome browser extension
betterU has been working to ensure that the learner’s user experience is properly guided, managed and supported for a life-time of learning.
OTTAWA, Ontario, Feb. 01, 2019 — betterU Education Corp. (the “Company” or “betterU”) is pleased to announce the launch of their Learner Assistant which supports learners as they explore and access educators’ content from around the world through a Google Chrome browser extension.
One of the challenges faced while building a solution that provides
access to global educators is the ability for the Company to support a
learner while they are working in different learning environments. With
thousands of global Ed-Tech providers, different learning technologies
and varying student registration processes, a learner may experience
multiple challenges as they move from educator to educator. betterU has
been working to ensure that the learner’s user experience is properly
guided, managed and supported for a life-time of learning. The Learner Assistant is just one of the many solutions betterU has been putting in place to support their vision providing access to Education for All.
With the new Learner Assistant, learners can access learning
content through betterU’s platform and seamlessly transition into a new
learning environment while still being able to:
Search and compare learning content provided through betterU
View purchase history, wish list, recommendations and job opportunities
Receive recommendations of courses based on their profile
Access and view saved jobs and additional employment recommendations
Rate courses immediately after completion
Communicate with betterU at any time through our live chat, email support and call centre
Receive notifications about new courses and exclusive offers
Manage global learning paths, access
study abroad opportunities, apply for internships, view corporate
opportunities, manage skills advancements, complete assessments and much
more (coming 2019)
The betterU Learner Assistant will be made available to each
learner who registers with betterU. The application (app) can also be
downloaded for free from Google’s Chrome Store
In parallel to acquiring content partnerships and building support technologies such as the Learner Assistant,
betterU has been working to solve for the skill shortage affecting 100s
of millions of people globally. There are thousands of jobs across
industries such as health care, hospitality, aerospace, telecom and
more. Each job carries multiple knowledge and skill requirements that
many are now realizing they do not meet. betterU’s
education-to-employment ecosystem brings together a collaboration of
global educators whose offerings support the acquisition of skills
required for employment. However, access to a massive global library of
content is only part of the solution. It is important to also integrate
the understanding of the education and skill requirements for every job
profile and connect those requirements and opportunities to learners in
need.
India’s National Occupational Standards (NOS) specify the standard of
performance an individual must achieve when carrying out a function in
the workplace, together with the knowledge and understanding they need
to meet a standard consistently.1 The NOSs were produced by each
industry Sector Skill Council (SSC) and are based on global standards.
Leveraging the efforts of the country, betterU extracted the profiles
which define the educational, professional, technical and generic skill
requirements, as well as other key details and set to work on a skilling
solution.
With use of technology, betterU has mapped all job profiles within
the major industries and created a massive database of course
recommendations which are connected to learning content offered by our
global partners. Through a simple and interactive learner assessment,
betterU can now analyse and recommend learning solutions to an
individual by understanding their job interests and assessing their
education and skill levels. After the assessment is complete, betterU
can guide a learner towards appropriate learning paths to help learners
achieve their goals for employment. The Company has been focused on the
skill shortage problem for years and is pleased to announce it has
completed the first prototype of their Upskill Tool. betterU expects to complete their Upskill Tool over the next quarter and be able to support India’s national skills shortages.
betterU, a global education to employment platform, aims to provide
access to quality education from around the world to foster growth and
opportunity to those who want to better their lives. The company plans
to bridge the prevailing gap in the education and job industry and
enhance the lives of its prospective learners by developing an
integrated education-to-employment ecosystem. betterU’s offerings can be
categorized into several broad functions: to compliment school programs
with flexible KG-12 programs preparing children for next stage of
education, to provide access to global educational opportunities from
leading educators, to foster an exceptional educational environment by
providing befitting skills that lead to a better career, to bridge the
gap between one’s existing education and prospective job requirement by
training them and lastly, to connect the end user to various job
opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and
information, which may involve risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors that might cause a difference include, but
are not limited to, competitive developments, risks associated with
betterU’s growth, the state of the financial markets, regulatory risks
and other factors. There can be no assurance or guarantees that any
statements of forward-looking information contained in this release will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral statements containing forward-looking
information are based on the estimates and opinions of management on the
dates they are made and expressly qualified in their entirety by this
notice. Unless otherwise required by applicable securities laws, betterU
disclaims any intention or obligation to update or revise any
forward-looking statements, whether because of new information, future
events or otherwise. Readers should not place undue reliance on any
statements of forward-looking information that speak only as of the date
of this release. Further information on betterU’s public filings,
including their most recent audited consolidated financial statements,
are available at www.sedar.com.
Education Budget 2019: From tax-free education to an upskilling allowance, here’s what education experts want
By 2020, the average age of people will be 46 years in the US, 42 years in Europe, 48 years in Japan, but only 27 in India.
This means that India’s demographic dividend is a huge scope for us to capture the job market and can be a big boost for the country’s economy.
Roshni Chakrabarty  Here are the education budget expectations from education industry experts and professors for the interim Budget Session 2019.
By 2020, the average age of people will be 46 years in the US, 42 years in Europe, 48 years in Japan, but only 27 in India. This
means that India’s demographic dividend is a huge scope for us to
capture the job market and can be a big boost for the country’s economy.
But this can only happen if today’s youth and students are
provided with the correct skills to help them secure future jobs. For
that, we need a good education budget.
Ahead of the general elections, the government will present an
interim Budget tomorrow, February 1. The last Budget session 2019 of the
present NDA government is likely to be presented by interim Finance
Minister Piyush Goyal in the Lok Sabha, who was given additional charge
of the Finance Ministry as Arun Jaitley has gone to the US for
treatment.
The education budget of 2018 was one of the least valued at
just 3.5 percent. Here is what education experts are expecting from the
Budget session 2019:
1. All-over increase in Education Budget
India needs to increase its Education Budget in the Budget Session 2019.
Ravi Sreedharan, Founder and Director, Indian School of Development Management (ISDM):
“While it might sound ambitious, there is a need to double the
current levels of spending in the two areas of public education and
public health as a percentage of GDP. Spend on Education as a percentage
of GDP is still around 3% versus the aspirational goal of 6%. Lots of
developing and developed countries in the world have already been
earmarking and spending close to this ballpark (as a percentage of GDP)
on education.
Given the widespread inequality and poverty in India, education needs
to play a critical role in bringing about intergenerational social and
economic mobility with primary public education standing out as the most
important area of focus.
Without a good quality government schooling system, it’s
impossible to envision us moving towards a just, equitable, humane and
sustainable society. Without that the potential demographic dividend we
could benefit from is nothing but a pipe dream.”
Rohit Manglik, CEO, EduGorilla:
“The upcoming education budget needs to take initiatives such as
allocating bigger spending on education, provision for proper teacher
training along with higher pay and administrative incentives.
Incentives need to be provided to encourage research in all
disciplines and for augmenting the technical capacity of the central
educational institutions like NCERT, NUEPA, IGNOU and many more.
Furthermore, a comprehensive scheme on lines of Ayushman Bharat can be a great start to improve the quality of education.”
Prof. Indradeep Ghosh, Associate Professor & Dean (Faculty), Meghnad Desai Academy of Economics:
In an election year, it would be only appropriate to expect that the
government will release an optimistic picture of its finances, which is
to say that even though expenditures will be shown to increase on
account of various programmes being announced ahead of elections, the
revenue side will also appear buoyant and on the rise.
The truth of the matter may be more unpalatable, though. India’s
fiscal situation is well known to follow a political cycle, and there is
a real danger that FRBM mandates will not be respected in projections,
and that the signal picked up by foreign investors will be a largely
negative one, irrespective of what the budget actually says.
To allay such fears, the government should try to offer as
realistic a vision as possible of the future course of policy if it is
re-elected, and especially provide indications of how it proposes to
solve critical problems of the Indian economy such as insufficient job
creation and deficient infrastructure.
2. Tax-free education to boost ed-tech
Zishaan Hayath, CEO & Co-founder, Toppr:
“Two key steps need to be made – education needs more funding by the
government, and it must be tax-free. The budget reserved for education
reforms has been constantly declining over the last five years.
Currently, ed-tech is taxed at 18% GST which limits
affordability to high-income groups. Education is not a luxury. In fact,
online learning is the only way to cater to individual needs at a
fraction of the cost. This should be made tax-free to lower after-school
education costs for students.”
Shobhit Bhatnagar, Co-founder, Gradeup:
“In a country with over 200 million students, online education can
play a major role in improving learning outcomes at a large scale. The government needs to actively support early stage industries like ed-tech that can create impact at scale.
Today, the GST rate for all educational services outside of schools
and colleges is 18%, which is same rate bracket as discretionary items
such as perfumes, chocolates etc. The government should move educational services to a no GST or the 5% slab.”
Vineet Chaturvedi, Co-founder, Edureka:
“Speaking specifically of the ed-tech industry, a reduction in GST
would greatly help boost a culture of up-skilling among Indians and this
is indeed the need of the hour for India to maintain an edge in
technical skills.
Education and up-skilling is no luxury and it should not be taxed as such.
It’s said that India lags behind even Sudan when it comes to its
investments in education and healthcare mapped as a measurement of its
commitment to economic growth, according to Institute for Health Metrics
and Evaluation. It’s time to change that.”
Beas Dev Ralhan, CEO, and Founder, NextEducation India Pvt Ltd:
“With the General Budget around the corner, we have high hopes from
the government and expect that a substantial amount would be set aside
to the education sector so that we can lay a stronger foundation for
new-age learning strategies.
The prerequisite for quality education becoming available to
all is the free and easy access to quality e-learning resources. This
can be initiated by the government through technologies such as
artificial intelligence, virtual and augmented reality and cloud
computing.
It is also important to ensure that internet access provided to rural
areas is functional so that students from those parts can use it for
effective self-learning.”
Amol Arora, Vice Chairman & Managing Director – Shemford Group of Futuristic Schools:
“For any country, the most significant returns are those garnered from investments made in its children.
The next generation is going to enter a globalized world and
will be competing for jobs not just against other students but also
innovative technologies that are quickly replacing human jobs.
In order to keep our children in the competition, we need to ramp up
our ed-tech sector in the years to come. To that end, Budget 2019 should
give certain tax breaks to ed-tech startups to enable them to reach
sustainable levels.”
Sampreeth Reddy Samala, Founder and CEO, Worldview Education:
“For any education policy in India to make sense, it needs to address
issues and provide solutions at a scale. From that view, potentially
game-changing tax reforms in the education space are still pending.
There is possibly great potential for vast private energy to be tapped
into if tax reforms are brought into this space to make it attractive
and competitive for private enterprises to enter, innovate and thrive.
Today, every and any educational idea which falls out of the
traditional realm is taxed at par with some of the luxury products. This
has to change to make investments into innovative ideas in education’
attractive which is crucial to meet the larger and current needs of an
aspiring country like India.
This will also help the sector get rid of undesirable
practices of working around these taxation hurdles in the name of the
sector being and meant to be a novel, not for profit one. This is not
only reducing the efficiency of the space but also killing innovation in
education.”
Rohit Manglik, CEO, EduGorilla:
“While the Indian government has done much to safeguard the interests
of all stakeholders of education, including students, the upcoming
interim budget needs to address some important components of the
education sector. Undoubtedly, lowering the GST rates from an existing
18% to expected 5% will make education affordable to students.”
3. Better skill development initiatives
Divya Jain, CEO, and Founder, Safeducate:
“In the previous Budget 2018, the government took key steps in
skilling and also increased the funds. In this Budget session 2019, we
expect that the government should take key steps in raising the
quality of skills to levels demanded by a potential employer or even
required for a person to start one’s own business.
The focus should be on integrating strategies to increase
skilling outcomes and sustain economic growth. Current skill development
initiatives should be integrated with nation-building mission
programmes.
As an organization which provides skilling and get funded from the
government to execute the Skilling programme, we seek some tax benefits.
Constructing the skilling centre
requires a lot of physical material which is being charged along with
GST. We are not being able to reclaim the GST we had paid in the Inward
supplies. Also, we have various certification and degree
programmes in Logistics and Supply chain management where we are not
being exempted from GST.
Support in terms of medical allowance for students that are being trained in skilling programmes
is also required. As technology is changing, the Government needs to
allocate more funds to improve the quality and develop excellence in
Skilling centres. The government has promised and initiated schemes
in Skilling such as PMKVY 2.0, DDU-GKY, NAPS, Bharatmala and Sagarmala,
PMKK etc. These schemes have helped us to reach the rural parts of India
– ‘the real India’.”
Vineet Chaturvedi, Co-founder, Edureka:
“Skilling and continuous learning have become sufficiently important
requirements in today’s competitive professional landscape so much so
that even the Indian government has taken note of it and launched skill
development initiatives.
What could accelerate India’s skill development story even
further and provide fodder to corporate growth is a ‘skilling allowance’
for all tax-paying individuals. Such a rebate that rewards continuous
learning will go a long way in creating an industry relevant workforce
that can make India a skill hot spot.
Continuous learning is a necessity and not just an option anymore and
by treating it on par with necessary allowances such as HRA, LTA, DA
& others, GOI would be doing India a great service. After all,
India’s biggest strength is its human resource.
Such an allowance will also be beneficial to IT, ITes industries
which are subject to frequent skill churn and the ed-tech industry which
has been working towards addressing this skilling need on ground.”
Nikhil Barshikar, Founder and MD at Imarticus Learning:
“With technology disrupting jobs across sectors, it is important to bridge the skilling gap. The budget session 2019 should focus on skill development as it will directly impact the economy for the better.
We strongly feel the need for allocating more funds towards
specialization i.e. in higher and further education, with the vision of
enhancing the training and the research amenities for reskilling the
workforce.
Tax rebates and incentive schemes will encourage educational institutions to expand their operations in Tier 2 & 3 cities.”
Dr. Jamshed Bharucha, Vice Chancellor, SRM University AP, Amaravati:
“The need to invest in the soft skills development within the education sector
is highly important so that qualified, talented and gifted young
Indians are not handicapped in any way by communication abilities that
can impede their success on a national and international stage.”
Amol Arora, Vice Chairman & Managing Director – Shemford Group of Futuristic Schools:
“The government should grant financial incentives for organizations setting up educational institutes in rural and underserved areas.
Currently, the private sector in education is viewed with distrust
which is why concrete steps should be taken to show that public-private
partnerships can be a win-win for all — delivering quality without
fleecing the parents.”
4. Resolution of the angel tax for startups
Siraj Dhanani, Co-Founder and CEO, InnAccel Technologies:
“In the budget session 2019, the govt should continue the
focus on healthcare and invest substantially in upgrading the primary
and secondary health tiers in the country. This upgrade can
leverage the indigenous medical technologies developed specifically for
Indian healthcare needs, and thereby support the Make in India
initiative.
I hope the budget provides a comprehensive resolution to the
angel tax issue being faced by startups, especially ones based on
generating intellectual property like medical technology startups.
Raising capital for startups working on affordable healthcare is
already difficult- it is made more so by this angel tax, which is
effectively a tax on Indian innovation.”
5. Relief for Small and Medium-sized Enterprises (SMEs)
Ankit Gupta, Vice President and COO, Exportersindia.com:
“Despite making huge contributions to the economy, SMEs often face a multitude of challenges that restrict their growth.
Due to numerous issues like lack of sustainability, insufficient funds,
limited access to resources, heavy competition from large entities,
small enterprises often fail to meet their true potential.
Although the ongoing digital revolution has allowed better
connectivity while enabling MSMEs and SMEs to gain exposure to the
global market, the struggle is constant. However, with the 2019 Union
Budget approaching fast, the scenario may change.
Though the recent GST reform has given a huge relief to the
SME sector, easy availability of loans, allocation of money in the
digital lending sector and tax breaks would be our prime expectations
for SMEs from this Budget 2019.”
6. Better student guidance and career counselling
Prateek Bhargava, Founder & CEO, Mindler:
“We at Mindler believe that allocation for funds to drive career
counseling and guidance initiatives are a critical need at the ground
level. There is a big need to drive students towards careers which are
in sync with their abilities rather than blindly following a few career
domain.
While national boards have made the need for guidance services
mandatory, most schools have not implemented the same primarily due to
lack of digital infra to implement state of the art platforms or lack of
certified experts in this domain.
Identifying and mapping talent towards right domains is
critical for our country, which has the largest youth population
globally, if it wants to reap the demographic dividend. We hope the
government will enlarge focus on PPP in providing high-quality career
guidance to school students across India.
Lastly, in keeping with its recent declaration that it is open to
reconsider GST rates on certain components in the education sector, we hope the government will review GST on ancillary services in education.”
7. More research funds
Dr. Jamshed Bharucha, Vice Chancellor, SRM University AP, Amaravati:
“Quality education needs to be made available to all. If we have to
keep up with western nations and with regional neighbours in fields of
science and technology, our educational institutions need to step up
funding on research for a wide range of applications from health
sciences, bio-medical, genomics, data science, machine learning,
agriculture and food production, space and astrophysics.
University-led research can be an important bridge between
ideas and practical applicability in the industry. We need to put in a
greater focus on this and commit resources to centres of excellence that
will tackle the areas where research is most needed and of national
significance. This needs to be done with a sense of urgency on a
national scale.
Because university research needs and national priorities(such as
Defence Tech, Health & Sanitation, Nutrition & Food) are so
closely aligned, Budget 2019 should also focus on University Research
funding.”
8. More focus on teacher training and digital upgradation
Prateek Bhargava, Founder & CEO, Mindler:
“The government of the day’s efforts to drive growth, investment and
embrace technology in education are all steps in the right direction,
however, investment into technology upgradation and teachers training has been falling short.
While this is an interim budget, we hope that it will pave way for
higher allocation in these two critical elements as they will usher in
much-needed improvement in quality outcomes, allowing schools to
leverage the power of digital solutions that bring high quality,
personalization and focus on evaluation of outcomes.”
Zishaan Hayath, CEO & Co-founder, Toppr:
“The education budget should be used to digitise schools at a mass level so that every student can access quality education. It should also be used to upskill teachers and close the gap between the education system and current employer demands.“
Beas Dev Ralhan, CEO, and Founder, NextEducation India Pvt Ltd:
“Training teachers on the latest pedagogies and Information and
Communication Technology (ICT) is the need of the hour as they are
expected to employ innovative teaching methods and make use of digital
tools in the classrooms. However, there is a dearth of 11 lakh adequately qualified teachers in the K-12 segments.
Even though the government is trying to tackle the situation
with initiatives such as Teacher Professional Development courses on
the digital platform Diksha, this issue also needs prioritizing in the
upcoming budget.
We also hope that the government provides the right kind of
infrastructural support for a system of education that is on a par with
global standards, and help Indian students face the challenges of
tomorrow.”
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Digital education ought to get a solid push this year: Vikas Singh, MD, Pearson India on Budget 2019
“Thanks to high internet penetration in the last two years, not just in the urban landscape but also in rural areas, digital technologies are gaining popularity across sectors,” says Vikas Singh
Recognising the potential of Micro, Small and Medium Enterprises
(MSMEs) as significant employment generators, Finance Minister Arun
Jaitley recently called the MSME sector the ‘backbone of the economy’.
In the sixth interim budget 2018-19 in February, the Government is
expected to announce some incentives for MSMEs that in turn would boost
job creation further. With both foreign and domestic investors in the
‘Make in India’ programme, the MSME sector can create a new business
ecosystem, contributing to employment generation and overall GDP growth.
In order to have a global edge, the
present and future workforce need to adopt an international outlook and
acquire new skills to drive innovation. Therefore, imparting the right
skill set is the need of the hour to create a future-ready workforce
that would take on new responsibilities with confidence. Moreover, with
the current government reiterating its commitment to boosting job
creation with a large focus on MSMEs, increased investment in the
e-learning sector will be the right way forward.
Thanks to high internet penetration in
the last two years, not just in the urban landscape but also in rural
areas, digital technologies are gaining popularity across multiple
sectors. Therefore, it makes it even more crucial for the education
sector to reap the benefits of this ongoing digital transformation.
Online learning is fast gaining the status of being a ‘global
phenomenon’. As online learning garners wider global outreach, the
potential to leverage it to expand access to education — particularly in
a developing country like ours — continues to grow. Investment in
e-learning currently is key to strengthening the learning ecosystem in
India.
With affordable data plans, cheaper
mobile devices and focus on new technologies like 5G, this trend is
expected to rise significantly. With the overwhelming use of internet
nationwide, it is clear that digital learning can deliver education
solutions in a friendly, cost-effective and convenient manner, including
learning content in the vernacular. Studies show that re-skilling and
online certification are currently drawing the maximum traction within
the online education ambit.
Tags: edtech, india Posted in betterU Education Corp | Comments Off on BetterU Education Corp. $BTRU.ca – Digital education ought to get a solid push this year: Vikas Singh, MD, Pearson India on Budget 2019 #Edtech
Posted by AGORACOM-JC
at 8:31 AM on Wednesday, January 30th, 2019
betterU is pleased to be joined most recently by some of the world’s most recognized educators such as:
Rosetta Stone, a global language learning leader with innovative digital solutions;
HubSpot Academy, the learning arm of HubSpot Inc. and global leader in inbound marketing and sales education;
FutureLearn, Europe’s largest online learning platform with partnerships with over a quarter of the world’s top universities;  and
Simplilearn, a world leader in accredited professional certification training in 150+ countries.
OTTAWA, Jan. 30, 2019 – betterU Education Corp. (the “Company” or “betterU”) is pleased to provide an update on the Company’s global partnership growth.
Over the last several years, betterU has been focused on the
development of the Company’s global business and operational pillars
required to build the foundation that support Education for All
through a single education-to-employment ecosystem. The scope of
betterU’s vision is to address global complexities facing education and
create a system that overcomes barriers such as exclusiveness, poverty,
gender inequality, affordability, conflict, caste systems, and
technology limitations while striving towards the goal of open access to
education in all its forms across entire nations. “We believe it is
only through strong partnerships and collaboration that the barriers to
education can be overcome. The quality and diverse education of many
creates an opportunity that no other platform will be able deliver. We
are proud to be partnering with so many organizations who share this
same belief,†said Kate O’Neil, Director of Partnerships at betterU.
Snapshot of betterU’s Model
betterU is pleased to be joined most recently by some of the world’s
most recognized educators such as: Rosetta Stone, a global language
learning leader with innovative digital solutions; HubSpot Academy, the
learning arm of HubSpot Inc. and global leader in inbound marketing and
sales education; FutureLearn, Europe’s largest online learning platform
with partnerships with over a quarter of the world’s top universities;
and Simplilearn, a world leader in accredited professional
certification training in 150+ countries.
By the end of 2016 betterU was able to offer just 235 courses through
our global partnerships, by 2017 close to 12,000, by 2018 close to
30,000 and today the company is closing in on nearly 52,000 courses
offered through our global partners. Over the years our partnership base
has grown to include many prestigious organizations such as: Acadgild,
Adobe, Aspiring Minds, Babbel, BSE Varsity, ByDegrees, Career Academy,
CareerCo, Carleton University, Global Academy, CoachTube, Digital Vidya,
Ed4Training, Ed4Career, Ed4Credit, EdCast, eduCBA, Eduonix, Edureka,
edX, Eliquo, Expert Rating, Finsafe, Fullbridge, FutureLearn, Genext,
GetcertGo, GlobalExam, GoSkills , Henry Harvin, Hope Research &
Practice Institute, HubSpot Academy, IACT Global, ICI Distance Learning,
ICICI Direct Center for Financial Learning, IELTS Online, ISEL Global,
Intern Theory, IL&FS (Englishbolo & Geneo), Imarticus,
Imurgence, Internshala, John Academy, LabInApp, LawSkills, Meritnation,
Open Colleges, Paddle, Playablo, Pluralsight, Pointsbuild, PTT, Rosetta
Stone, Simplilearn, Simpliv, SKILLDOM, Skillshare, Skillsoft, Sound
Basics, Stone River E-Learning, Swift Elearning, TCYonline, Technology
Ed, Topper Learning, Toppr, TrakInvest, Transneuron/iTrack, Udemy,
VuBiz, Wall Street Prep, Whizlabs, WIISE, Wintellect with many more in
the pipeline.
The distribution of content across betterU’s platform continues to
advance as their global team focuses on areas that are required to
support the learning spectrum.
To drive significant revenue opportunities for a business model such
as betterU, the Company has had to put in place a foundation that can
support mass education and solve for the significant barriers preventing
access. The only way to be able to successfully educate and skill mass
populations such as India, while meeting the individual learning needs,
is to have enough partnerships providing quality and diverse
educational content incorporated into one platform.
While betterU continues to pioneer and innovate, the company
recognizes that what is needed to move the needle are groups like World
Economic Forum and UNESCO, and a focus on UNESCO’s Sustainable
Development Goals, particularly SDG4. The perceived impossibility of
solving Education for All is starting to take shape as a real possibility through the Company’s efforts and continued partnership growth.
About betterU
betterU, a global education to employment platform, aims to provide
access to quality education from around the world to foster growth and
opportunity to those who want to better their lives. The company plans
to bridge the prevailing gap in the education and job industry and
enhance the lives of its prospective learners by developing an
integrated education-to-employment ecosystem. betterU’s offerings can be
categorized into several broad functions: to compliment school programs
with flexible KG-12 programs preparing children for next stage of
education, to provide access to global educational opportunities from
leading educators, to foster an exceptional educational environment by
providing befitting skills that lead to a better career, to bridge the
gap between one’s existing education and prospective job requirement by
training them and lastly, to connect the end user to various job
opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and
information, which may involve risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors that might cause a difference include, but
are not limited to, competitive developments, risks associated with
betterU’s growth, the state of the financial markets, regulatory risks
and other factors. There can be no assurance or guarantees that any
statements of forward-looking information contained in this release will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral statements containing forward-looking
information are based on the estimates and opinions of management on the
dates they are made and expressly qualified in their entirety by this
notice. Unless otherwise required by applicable securities laws, betterU
disclaims any intention or obligation to update or revise any
forward-looking statements, whether because of new information, future
events or otherwise. Readers should not place undue reliance on any
statements of forward-looking information that speak only as of the date
of this release. Further information on betterU’s public filings,
including their most recent audited consolidated financial statements,
are available at www.sedar.com.
Posted by AGORACOM-JC
at 8:19 AM on Tuesday, January 29th, 2019
Announced the successful acquisition of two corporate training contracts with Larsen & Toubro (L&T) and Maharashtra State Electricity Transmission Company Limited (Mahatransco), both located in Mumbai, India.
These two training programs come on the heels of betterU’s efforts to enhance their revenue focus and after the successful completion of other such training programs and custom development projects
OTTAWA, Ontario, Jan. 29, 2019 – betterU Education Corp. (the “Company” or “betterU”) is pleased to announce the successful acquisition of two corporate training contracts with Larsen & Toubro (L&T) and Maharashtra State Electricity Transmission Company Limited (Mahatransco), both located in Mumbai, India. These two training programs come on the heels of betterU’s efforts to enhance their revenue focus and after the successful completion of other such training programs and custom development projects with groups such as Central Bank of India, Dena Bank, Confederation of Indian Industries (CII), Indian Oil Corporation Limited (IOCL), Blue Star, Dimension Data, Evry India and Acliv Technologies.
The contract awarded by Larsen & Toubro (L&T) focused on
training in Effective Communication for Sales, which was delivered at
Pune and successfully completed mid November 2018. L&T is valued at
US$17 billion and is one of the largest Indian multi-national companies
headquartered in Mumbai, Maharashtra, India. The company has business
interests in engineering, construction, manufacturing goods, information
technology, and financial services, and has offices worldwide.
The contract awarded by Maharashtra State Electricity Transmission
Company Limited (Mahatransco) focused on Management Development training
and was delivered in two batches at Mahabaleshwar. Training was
successfully completed mid December 2018 and early January 2019.
Mahatransco is wholly owned by the Government of Maharashtra, is the
largest electric power transmission utility in state sector in India and
owns and operates most of Maharashtra’s Electric Power Transmission
System.
Corporate training for B2B enterprises is just part of betterU’s
education-to-employment ecosystem. Many organizations understand that
employees need new and updated skills to remain productive and engaged.
There is great value for small, medium and large corporates to purchase
and access training content through betterU because of the customizable
and flexible options available. betterU’s global partnerships offer many
cutting-edge and forward-thinking training options that will keep any
organization competitive in today’s fast paced economy. “With these two
prestigious wins, betterU positions itself as one of the leading
training providers for corporate training in Leadership Development and
Business & Management skills training. We are also at the forefront
of providing an immense learning experience for corporates with the
launch of our Upskill Platform.†said Sameer Vatsa, Country Head for
India.
betterU, a global education to employment platform, aims to provide
access to quality education from around the world to foster growth and
opportunity to those who want to better their lives. The company plans
to bridge the prevailing gap in the education and job industry and
enhance the lives of its prospective learners by developing an
integrated education-to-employment ecosystem. betterU’s offerings can be
categorized into several broad functions: to compliment school programs
with flexible KG-12 programs preparing children for next stage of
education, to provide access to global educational opportunities from
leading educators, to foster an exceptional educational environment by
providing befitting skills that lead to a better career, to bridge the
gap between one’s existing education and prospective job requirement by
training them and lastly, to connect the end user to various job
opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and
information, which may involve risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors that might cause a difference include, but
are not limited to, competitive developments, risks associated with
betterU’s growth, the state of the financial markets, regulatory risks
and other factors. There can be no assurance or guarantees that any
statements of forward-looking information contained in this release will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral statements containing forward-looking
information are based on the estimates and opinions of management on the
dates they are made and expressly qualified in their entirety by this
notice. Unless otherwise required by applicable securities laws, betterU
disclaims any intention or obligation to update or revise any
forward-looking statements, whether because of new information, future
events or otherwise. Readers should not place undue reliance on any
statements of forward-looking information that speak only as of the date
of this release. Further information on betterU’s public filings,
including their most recent audited consolidated financial statements,
are available at www.sedar.com.
Tags: edtech, india, tsx Posted in betterU Education Corp | Comments Off on betterU $BTRU.ca advances its corporate training efforts in India and is awarded two contracts totaling $26,812 $ARCL $CPLA $BPI $FC.ca
Technology has transformed the learning landscape. What can we look forward to this year? Video-based learning, microlearning, and AI-driven chatbots that function as teachers’ assistants.
Change is the only constant! And when I look around, I can see the
pace. Thanks to smartphones and internet penetration, sometimes the
change is so rapid that we don’t even realise it. For instance, Netflix/
Amazon Prime has so quickly become a part of our everyday lives that
they have replaced the cable television for a lot of us.
Similarly, in the past few years, the learning landscape across the
globe has also undergone significant disruption on the back of
technological advancements. The growth and proliferation of
communication technology, bolstered by deeper penetration of internet
connectivity and smart devices, made digital learning a household name
in 2018.
And, as we work our way through January 2019, it makes sense to look
back at what worked in 2018 and what would be the guiding principles for
2019. One thing is for sure; online learning is here to stay and grow!
The year that was: digital learning trends in 2018
In 2018, educational institutions and organisations truly embraced
virtual reality and augmented reality (VR/AR) to boost learning outcomes
among students. While the technology is still in its nascent stage in
India, several leading AR/VR startups are creating inventive educational
products for schools, colleges, and corporations.
AR/VR has resulted in the development of collaborative online
learning. Virtual collaborative learning environments have enabled
learners to work together as a group in technology-based learning
systems and benefit from shared knowledge.
Gamification, or game-based learning, is another trend that gained
momentum in the past year. Through the immersive learning technique of
gamification, learning new skills has become an engaging and a fun
activity. Gamification, powered by artificial intelligence and machine
learning, has witnessed stellar developments, with its global market set
to grow from $1.65 billion in 2015 to $11.1 billion by 2020, at a CAGR
of 46.3 percent.
Adaptive learning was another big advancement in 2018, with learning
platforms realizing the potential of programmes that are customised as
per the needs and capabilities of specific learners. As digital learning
continues to gain traction and attract learners who wish to upskill
themselves independently, leading digital learning platforms have
uniquely personalised the process.
Looking ahead: what 2019 has in store for digital learning
Video-based learning has emerged as the most scalable learning method
since it truly democratises education by making it accessible to
everyone. And it’s not only the reach; video-based learning has proven
to be more effective with our changing cognitive abilities. According to
an article published by Psychology Today, the human brain
processes videos 60,000 times faster than text. The method of explaining
and demonstrating a topic through videos boosts retention as it appeals
to more than just the sense of sight. In fact, a study on millennials
concluded that over 75 percent millennials turned to YouTube and other
channels for “How to†and explainer videos on various concepts. Leading
online learning platforms are eyeing this opportunity and investing more
in the video-based learning segment.
The rise in video-based learning is leading to a newer concept called
microlearning wherein bite-sized videos with succinct information are
shown to learners. When learners are exposed to information in short
bursts repeatedly, they grasp concepts quicker, leading to amazing
learning outcomes. Microlearning, also conceivable in the form of short
quizzes, info-graphics, or audio clips, has huge potential and could
possibly transform the education sector in 2019 and beyond.
The learning landscape in 2019 is also set to be revolutionised by
AI-driven chatbots, who can perform tasks from guiding to motivating
learners, while they move forward on their upskilling journey. In fact,
this method of aiding learners through chatbots was successfully
implemented when the Georgia Institute of Technology used IBM’s Watson
AI to facilitate student support. For online learning platforms,
chatbots can become teachers’ assistants and answer routine queries put
up by learners.
According to a study by KPMG, the Indian online education industry
will touch $1.96 billion by 2021, with an increasing number of learners
finding online learning more convenient and in tune with their learning
pace. Extrapolating for the current scenario and future projections, it
is evident that the online learning industry is going ahead full
throttle, fueled by innovative technologies and eager learners.
(Disclaimer: The views and opinions expressed in this article are
those of the author and do not necessarily reflect the views of
YourStory.)
We all are aware that EdTech market is expected to touch $1.96 billion by 2021 with nearly 9.6 million users.
India Today Web Desk January 22, 2019 Ed-tech or education technology is on the rise with more learning trends about to show up in 2019.
Ed-tech or education technology has arrived in India. With BYJUs
already getting into the unicorn club, the time has come for other
startups who have been doing some good work consistently to pace up the
growth and make 2019 the year of Ed Tech in India, in addition to the
obvious Fin Tech.
We all are aware that EdTech market is expected to touch $1.96 billion by 2021 with nearly 9.6 million users.
However based on my experience of over 7 years in Education
Technology space, let me try to share the Top 5 Ed Tech Trends which
will decide how the sector shapes up in India in 2019.
1. Tryst with vernacular learning content
Regional and vernacular content is thriving in all respects, be it
entertainment, communication or the digital space. Like any other
sector, in 2019, edtech companies cannot afford to miss out at the
language content internet consumers.
After all, the next 500 million to 1 billion internet users in India are going to be language users, across age groups.
Regional language users will grow at a Compound Annual Growth Rate
(CAGR) of 18 per cent to reach 536 million in 2021, while English users
are expected to grow at a CAGR of three per cent.
And hence, this will be the defining trend of ed-tech companies too
for expansion to leverage a good chunk of overall pie of internet
consumers in India.
CareerAnna, the largest platform to learn in Indian Languages,
already offers indepth vernacular learning content in 3 languages —
Hindi, Tamil, Telugu, in addition to English, and is witnessing a month
on month growth of over 200% in non-English categories.
Like Nelson Mandela said, If you talk to a man in a language he
understands, that goes to his head. If you talk to him in his language,
that goes to his heart, and education technology companies need to
appreciate this emerging trend.
2. Bite-sized learning is the future of learning
As a new education trend, bite sized learning content can help students learn quickly.
Time constraints and the rapid proliferation of mobile phones have given birth to the bite-sized learning modules.
Bite-sized learning was, till now, restricted to only news,
with news aggregators like NewsBytes and Inshorts making good use of the
opportunity. This trend has now penetrated the e-learning space as
well.
CareerAnna has also come up with bite-sized videos containing mocks, study plans, exam strategies etc.
As per an EdTechReview report, India’s mobile download would rise to
22.7 billion in 2021, and since bite-sized learning is both affordable
and convenient in nature, the revenue generated by the ed-tech industry
is bound to grow manifold.
3. Curated content over open learning
The preference of curated content over open learning content is a rising ed-tech trend.
Though schools and colleges are archaic institutions, the world of
education is undergoing a digital transformation one day at a time.
Content curation is the process of collecting relevant information and
presenting it in a meaningful way.
Learning in India cannot be ever seen as a primary source of
education unless the curriculum is well defined by educators having
relevant experience.
Education technology platforms need to perform appropriate
curation to bring in the best educators and not just let anyone teach
the aspiring students.
Platforms like Coursera, Career Anna, Great Learning which have
embraced this as the part of the culture are perceived to be much
effective and outcome-oriented primary learning sources by consumers.
However, open learning platforms like Unacademy, which let
inexperienced college students with almost no credentials to form more
than 95% of educators, are seen as a mere backup source by consumers
much like youtube channels.
Such platforms hail only when content is free and struggle to monetise because of the lack of credibility of educators.
Thus, curated platforms shall lead in 2019 and open platforms may have to go back to the war room.
4. Personalised mentorship by certified educators, not university students
Not anyone and everyone should be allowed to teach students.
CareerAnna, Brainnr, and Vedantu are some names which employ
certified and trained individuals to come onboard and impart quality
knowledge to their users.
Aspiring online tutors then make a demo video for screening and eventually start uploading tutorials on their website.
Live online tutoring presently constitutes of 1% of the supplementary
education market, but its future looks extremely promising.
5. Nail your dream job through up-skilling
Skilling up, combined with the right aptitude and attitude is the stairway to any lucrative job.
Sectors like Data Science, Digital Marketing, Google
Analytics, Machine Learning, Growth Hacking and Marketing are witnessing
high demand presently.
As many as 58 million jobs would be created in Artificial
Intelligence by the year 2022 and the IT sector would see the creation
of 2.5 lakh fresher jobs in 2019.
CareerAnna’s skill-up courses have helped over 9000 professionals in
India to secure placements with giants like Cognizant, Dell, Samsung,
Wipro, Infosys, to name a few.
To conclude, I must say that 2019 shall be an exciting year for
ed-tech companies with a vast opportunity to tap next billion internet
users, but challenging as well as lot of experiments, failures,
learnings would be taken to have the next ed-tech unicorn of India,
riding on the wave of new internet consumers.
Posted by AGORACOM-JC
at 8:11 AM on Thursday, January 17th, 2019
Completed a $1,250,000 equity investment by HT Overseas Pte. Ltd., a wholly owned subsidiary of HT Media Limited, for the purchase of 2,976,190 common shares of the Corporation at $0.42 per share
OTTAWA, Jan. 17, 2019 — betterU Education Corp.(TSX VENTURE: BTRU, Frankfurt: 5OGA) (the “Companyâ€) would like to provide an update on its funding activities.
betterU is pleased to announce it has completed a $1,250,000 equity
investment by HT Overseas Pte. Ltd., a wholly owned subsidiary of HT
Media Limited, (“HTâ€) for the purchase of 2,976,190 common shares of the Corporation at $0.42 per share (the “Private Placementâ€)
with a hold period expiring on May 17, 2019. As previously announced on
December 21, 2017, HT’s $10 million investment is provided to betterU
in eight (8) tranches over two years, this being the 3rd tranche with
the full investment immediately being paid to HT’s Media Groups by
betterU to support betterU’s mass marketing efforts across India. Over
the last year, HT’s marketing investment in betterU has resulted in an
increase of partnerships and the content required to support our efforts
in building betterU’s platform: Education for All. In 2016,
betterU had only 235 courses available on its platform, by 2017 betterU
reached close to 12,000 and by the end of 2018, betterU surpassed over
52,000 programs. The efforts of our team, along with the media
investment from HT, has helped betterU create a larger platform of
global educators, tutors, and service providers who all focused on
supporting India’s education needs across many subjects and industries.
Content acquisition has been part of the betterU’s core focus as it also
supports technology being developed by betterU to help solve India’s
mass skilling challenges across industries.
betterU, over the last few months, has been working on multiple
funding opportunities motivated by the ongoing delays from the $100M
investment from TUC Co, Ltd. (“TUCâ€). These delays have not been explained in detail to betterU because according to GDS Holdings Ltd. (“GDSâ€),
they are under confidentiality agreements with their investment
partners. betterU has received over 400 emails over the last year with
discussions not only with TUC and GDS, but also with other organizations
that are also part of TUC’s investment portfolio. betterU has been in
active discussions with the CEOs for multiple groups in Canada and the
USA with whom TUC and GDS have also promised funding. Despite the
ongoing support and assurances made by TUC and GDS however, with these
ongoing delays, it is not sustainable for betterU to rely solely on TUC
or GDS, so betterU has had no choice but to seek other
investment opportunities as outlined further below. betterU’s agreement
with TUC and GDS will remain active and when and if GDS funds are
released they will be in accordance with the terms of the agreement
executed by TUC and betterU on February 1, 2018.
The Term Sheet with AIP Asset Management Inc., AIP Inc. (“AIPâ€)
for financing of $2.5 Million previously announced October 15, 2018, is
currently under review by betterU. AIP requires as a condition to
closing the financing that a subordination agreement (“SAâ€)
be executed by the creditors of betterU. After betterU’s creditors
reviewed the SA provided by AIP, they felt it was punitive to their
rights as creditors and decided not to sign it. betterU has been in
discussions with AIP to determine alternative solutions and while AIP is
willing to provide betterU with more time, at a cost, they still
require that betterU’s creditors execute on the SA. A further update to
the market will be forthcoming as this materializes further.
Additionally, in early October 2018, betterU was invited to present
to dozens of investors organized by a Montreal investor relations firm
known to betterU, Mi3. During these events, betterU was introduced to
the CEO of Quantiium Capital Management Corporation (“QCMCâ€) an
alternative funding group located in Montreal QC who expressed interest
in betterU. Over subsequent months, betterU met with their leadership
teams in Montreal, Toronto and at betterU’s office in Ottawa. Following
QCMC’s due diligence process, a Letter of Intent was offered and
executed by both parties on December 5, 2018 which supports an
investment of 5 Million Euro (approximately CND$7.5M) through a credit
facility backed by QCMC. The agreements are currently under development
with QCMC and the credit facility is expected to be issued in favour of
betterU this month. Further details will be provided to the market as
the agreements and timelines materialize. All investments are subject to
board of director and TSXV approvals.
betterU wants to emphasise that they have no control over the
timelines of these investments and are providing an update to the market
with the information they are provided with. An update on the betterU’s
advancements in revenue, technology and growth objectives will be made
available by next week.
About betterU
betterU, a global education to employment platform, aims to provide
access to quality education from around the world to foster growth and
opportunity to those who want to better their lives. The company plans
to bridge the prevailing gap in the education and job industry and
enhance the lives of its perspective learners by developing an
integrated education-to-employment ecosystem. betterU’s offerings can be
categorized into several broad functions: to compliment school programs
with flexible KG-12 programs preparing children for next stage of
education, to provide access to global educational opportunities from
leading educators, to foster an exceptional educational environment by
providing befitting skills that lead to a better career, to bridge the
gap between one’s existing education and perspective job requirement by
training them and lastly, to connect the end user to various job
opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and
information, which may involve risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors that might cause a difference include, but
are not limited to, competitive developments, risks associated with
betterU’s growth, the state of the financial markets, regulatory risks
and other factors. There can be no assurance or guarantees that any
statements of forward-looking information contained in this release will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral statements containing forward-looking
information are based on the estimates and opinions of management on the
dates they are made and expressly qualified in their entirety by this
notice. Unless otherwise required by applicable securities laws, betterU
disclaims any intention or obligation to update or revise any
forward-looking statements, whether because of new information, future
events or otherwise. Readers should not place undue reliance on any
statements of forward-looking information that speak only as of the date
of this release. Further information on betterU’s public filings,
including their most recent audited consolidated financial statements,
are available at www.sedar.com.
