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<ul><li>The <keyword id="291131" type="General" weightage="20" keywordseo="aws" source="Orion">AWS</keyword> Public Sector Symposium talked about cloud computing in public sectors</li><li>It featured important announcements including collaboration with <keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword></li><li>AWS has also partnered with CCMB</li></ul> Amazon Web Services Public Sector Symposium 2023 that took place in September saw a series of announcements by the Cloud computing behemoth. One of the largest service providers in the world, AWS has been actively collaborating in the public sector space in India. The event last month reiterated the established partnerships along with a string of new announcements. But before that let’s understand what is cloud computing? Cloud Computing for laymen Imagine enjoying the benefits of having a high end personal computer that can handle Terabytes of data in seconds. Now make it intangible, and completely based on a server network. That essentially is cloud computing. It is the practice of using a network of remote servers hosted on the internet to store, manage, and process data, rather than a local server or a personal computer. Amazon Web Services does just that, but on a massive scale, hence the collaborations we are seeing in the public sector. AWS &amp; ISRO AWS has announced a collaboration with ISRO and Indian National Space Promotion and Authorization Center (IN-SPACe) to accelerate India’s space-tech growth. The collaboration will see space start-ups get access to new age cloud computing services. The organizations will work together to train students in AI, ML, analytics and security. AWS &amp; Center for Cellular and Molecular Biology CCMB is also using AWS cloud computing services to manage its work. The core focus of this collaboration is to accelerate the growth of genome sequencing research projects. According to reports the progress is significant with the reduction of research analysis by 98%. AWS &amp; AI In a collaboration with ConveGenius AWS has also developed a chatbot dubbed the SwiftChat. It is a conversational artificial intelligence (AI) chatbot platform for government schools and low-free private schools built on AWS. We will be coming out with a video with it very soon.

Amazon Web Services Public Sector Symposium 2023 - Cloud Computing For the Future

<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

<ul><li>The pandemic has helped the <keyword id="4222766" type="PERSON" weightage="20" keywordseo="edtech-sector">edtech sector</keyword> in India flourish. Many players have witnessed impressive growth since the lockdown led to closure of educational institutes. </li><li><keyword id="3395125" type="PERSON" weightage="20" keywordseo="Cuemath">Cuemath</keyword>, an edtech platform focused on Math and coding grew 3X last year and is expecting to top that this year. It is also confident of becoming a unicorn by 2022.</li><li>We talk to <keyword id="1390946" type="PERSON" weightage="20" keywordseo="Arvind-Iyer">Arvind Iyer</keyword>, Marketing Director, Cuemath who tells us about the platform's growth story and all that its doing to bring more students to its platform.</li></ul>The last one year has been a blessing in disguise for the edtech industry. While over the past few years the sector had being growing steadily, the pandemic gave the sector just the tailwind it needed. According to a recent report released by transaction advisory firm RBSA Advisors, the <keyword id="11507888" type="UNKNOWN" weightage="20" keywordseo="Indian-edtech">Indian edtech</keyword> sector will take off, from its current market size of about $700-800 million to $30 billion in the next 10 years. While we have seen players that cover the entire spectrum of education, multiple subjects, test preparations, competitive exams, there also are subject-specific platforms that are making their presence felt in the domain. Cuemath was started in 2013 by <keyword id="3395126" type="PERSON" weightage="20" keywordseo="Manan-Khurma">Manan Khurma</keyword> who had just graduated from <keyword id="55119" type="COMPANY" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT) Delhi. After graduating, he started teaching, predominantly Maths, to a lot of aspirants to help them crack the JEE. His experience with many of the students made him realize that most of them did not have clarity on the fundamentals of the subject. Resultantly, they were struggling with advanced concepts like trigonometry and calculus. That led to the genesis of Cuemath, that started out in an offline format but has now gone online. The platform, in the initial few years, found growth primarily through word-of-mouth. What started in India soon found takers in other countries too, considering every child, across the globe, has to learn Math. In fact, currently, Cuemath is present in 20 countries, a number that the leaders hope to take to 50 by the end of this year. “Math is a universal need. It’s not a niche need. Every kid around the world needs to do Math. Therefore, every student is our target student. We are therefore creating and enhancing our market. And since Math is a basic global requirement, we get an edge over our competition,” said Arvind Iyer, Marketing Director, Cuemath. Currently, Cuemath’s key markets are across four regions, North America and Canada; the Middle East, especially Dubai and Qatar, UK and Europe, where its business is growing steadily. The startup currently has plans of scaling 3-4X times in the US alone this year. “Cuemath is present in 20-odd countries, and it wants to reach over 50 countries by the end of this year. This plan includes strengthening its presence in North America, APAC, UK and Europe, and the Middle East, as well as entering countries in Africa and South America,” explained Iyer. The platform also underwent a rebranding recently to represent its evolution in the past 1.5 years, primarily its pivot from an offline to an online entity. The rebranding entails a new logo and colour palette. <div type="image" title="cuemathTwitter" msid="83830583" hostid="261"></div> Explaining the thought behind the rebranding, Iyer said, “We want to make parents and students believe in the power of math and its potential to unlock innumerous possibilities. We intend to project ourselves as a brand of consequence where intuition for math trumps marks and performance in exams. Being a company that works at scale across geographies, we needed a winning strategy that will be in alignment with our mission to be a Global Math Leader of the future - to portray trust, expertise, and freshness, globally. This needed a fresh way of looking at our brand, our visual identity, and our communication objectives which are: to come across as trustworthy but not formal, to sound lighthearted but not juvenile, to have academic rigor but not be strict and to be viewed as innovative not newfangled.” It has also refreshed its tagline to ‘Get better at Math, Get better at everything else’. When it comes to marketing, the platform has been following a targeted approach, while monitoring its funnel conversion metrics closely. “We are constantly improving our communication assets to make them work harder for the parent, and get them to discover the Cuemath method. We believe in always adding value to the lives of parents, students and teachers. Everything we do is a reflection of what they seek and find useful. Having said that, our focus this year is going to be on building brand awareness and performance marketing to acquire new students through all our social, digital, TV and PR channels,” explained Iyer. If a recent estimate from <keyword id="50041" type="COMPANY" weightage="20" keywordseo="KPMG">KPMG</keyword> is to be believed, India has more than 3,500 <keyword id="2989202" type="PERSON" weightage="20" keywordseo="edtech-startups">edtech startups</keyword>. So how does one break the clutter? “I strongly believe that the pedagogy we adopt here at Cuemath is a major factor to give us an edge over our competitors. We are obsessed about having this constant zeal to help the child so that his or her learning graph just keeps going higher. We take pride in portraying math as a life skill which can make children better at everything by enhancing their critical and analytical thinking which many of our competitors don’t do,” he added. Owing to the fact that the knowledge of Math is a universal requirement, Iyer is confident that they will be able to capture the global markets too. Since 2017, it has grown over 10 times, from Rs 15 crore to now a Rs 150 crore company. From 7000 students on its platform in 2017, the platform grew to 60,000 students in 2020. From 1000 in 2017, it increased its teachers count to 10,000 in 2020. “We have very strong unit economics, which means we don’t lose any money on a consumer acquisition but on an overall level since we are re-investing all of our revenue back into growth, we aren’t profitable yet. So profitability right now isn’t a goal, but growth is the focus. The Math market around the world is a 20 Billion Dollar market and we plan to win that market. Our focus is to drive growth and become a unicorn, a billion dollar company by the end of 2022,” concluded Iyer on an optimistic note.

Our aim is to become a billion dollar company by the end of 2022: Arvind Iyer, Cuemath

<ul><li>The Chinese government is forcing the $100 billion private tutoring and online <keyword id="6361862" type="UNKNOWN" weightage="20" keywordseo="education-sector">education sector</keyword> to go non-profit.</li><li>The move is also said to be in line with Chinese president’s Xi Jinping’s top priority at the moment — boosting the declining birth rate in <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword>.</li><li>India may turn out to be a possible beneficiary of China’s latest regulation on the <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> industry.</li></ul>The government of China has pulled the rug from the edtech industry, with its latest regulation. The country is now forcing its $100 billion private tutoring and online education sector to go non-profit. To make matters worse, the Chinese government has also deprived the edtech companies from going public, taking foreign capital or issuing stocks if already public. This has shut all doors for these companies to make any form of capital and for investors to get their desired exits. Investors like Warburg Pincus, Temasek, General Insurance Corporation (GIC), Sequoia Capital, SoftBank, Tiger Global and many others have been affected by this decision, apart from the edtech startups that are operational in the country. Top Chinese edtech startups and their investors: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Chinese edtech firms </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investors </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Yuanfudao </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DST, CPE, Temasek, Trustbridge </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Huohua Siwei </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Trustbridge, GSR, GGV, Tencent, Carlyle, Sequoia China </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zuoyebang </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sequoia China, SoftBank Vision Fund, FountainVest, Tiger Global </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zhangmen </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shunwei Capital, Warburg Pincus, CMC Capital </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Knowbox </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TAL Education Group, Bertelsmann Asia Investments, Alibaba Group </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">iTutorGroup </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Alibaba Capital Partners, Qiming Venture Partners </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Huike </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">China Oceanwide, Qianhe Capital, Fosun RZ Capital </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hujiang </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minsheng Investment Group, Baidu </td></tr></tbody></table> According to a Bloomberg<a href="https://www.bloomberg.com/news/articles/2021-07-23/from-tiger-to-temasek-investors-scarred-by-china-edtech-assault"> report</a>, the nationwide crackdown on edtech actually stems out of a deeper backlash against the new-age educational businesses. The excessive tutoring not only torments youth, but also burdens parents with expensive fees, the report added. The edtech segment has also been accused of causing social inequalities. Edtech is allegedly triggering a social inequality among urban and rural citizens of China by providing additional coaching to those who can afford it. This especially has a greater impact in tutoring students for China’s university entrance exam, gaokao, according to media reports. The nine-hour-long test actually determines whether a student will attend an undergraduate institution or not. The test results will also determine the college a student can attend. Since there are no other alternatives in China, gaokao has turned out to be a really high stakes exam. Therefore, it is <a href="https://www.scmp.com/news/china/society/article/2097512/gaokao-how-one-exam-can-set-course-students-life-china">seen</a> as one of the most brutal educational assessments in the world. According to a report by news and analysis platform Protocol, Chinese families are willing to shell out an average of 11% of their annual family expenses for their Children’s future success. This does create inequalities among those who cannot afford to pay for additional education systems. Besides this, the policy is said to be in line with Chinese president’s Xi Jingping’s top priority at the moment — boosting the declining birth rate in China. Affordable education is likely to promote people to have more than one child. China’s latest regulation on edtech: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies and institution that teach the school curriculum must go non-profit </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">These institutions cannot pursue an IPO or raise any foreign capital </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Listed companies will not be able to issue stock or raise money in stock market </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Foreign companies cannot acquire or hold shares in school tutoring companies </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">All vacation and holiday curriculum tutoring is prohibited </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Online curriculum for kids below six years of age in banned </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies cannot teach foreign curriculum or hire foreigners </td></tr></tbody></table> This is not the first time that the Chinese government has shown interest in the nation's edtech industry. On March 31 this year, China’s Minister of Education Chen Baosheng <a href="http://www.moe.gov.cn/srcsite/A06/s3321/202104/t20210401_523901.html">announced</a> that the education department should limit the timings for online learning to ensure that primary and secondary school students get enough sleep. The ministry added that all live online broadcasting training activities should end no later than 9 p.m. Chinese crackdown a boon for Indian edtech? China is the largest education market in the world, which has attracted venture capital, from all over the globe, over the last few years. Out of the 28 edtech unicorns in the world, eight are from China as per a market intelligence firm Holon IQ <a href="https://www.holoniq.com/edtech-unicorns/">report</a>. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. Online education has been booming around the world especially during the global pandemic. According to a weforum<a href="https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/"> report</a>, about 1.2 billion students across 186 countries were out of school in 2020 due to COVID-19 and related restrictions. The global investment in edtech will grow from $18.66 billion in 2019 to $350 billion by 2025, the report added. If China shuts its doors to global capital looking for opportunities in the edtech space, it is possible that money may seek out opportunities in countries like India with a large population of students and early career professionals. 81.3% of India’s population is under the age of 45, according to Census of India <a href="https://censusindia.gov.in/census_and_you/age_structure_and_marital_status.aspx">2011</a>. Though India has only two edtech unicorns at the moment — BYJU’s and Unacademy — the sector has been gaining a lot of momentum over the last one year. BYJU’s is currently the biggest edtech startup in the world in terms of valuation, at an estimated $16.5 billion. The Bengaluru-based company has raised $2.7 billion in the last decade, from marquee investors like Prosus, General Atlantic, Tencent, Qatar Investment Authority (QIA), Tiger Global, Silver Lake and more. Besides this, the Indian government’s <a href="https://www.businessinsider.in/education/news/india-revamps-its-education-policy-after-34-years-scraps-mphil-proposes-vocational-courses-from-class-6-ug-colleges-to-become-autonomous/articleshow/77241851.cms">National Education Policy (NEP) of 2020</a> that promotes digital and remote learning is going to further boost the segment in India. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/subscribe-to-glenmark-life-sciences-ipo-because-of-clean-regulatory-history-and-good-track-record-as-per-analysts/articleshow/84748115.cms" data-type="tilCustomLink">One may subscribe to Glenmark Life Sciences IPO because of clean regulatory history, strong promoter backing and good track record, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-surge-5-after-it-reports-strong-profit-growth/articleshow/84751116.cms" data-type="tilCustomLink">YES Bank shares surge 5% as investors see a ray of hope after bank reported four fold growth in profit</a> <a href="https://www.businessinsider.in/tech/news/a-man-used-ai-to-bring-back-his-deceased-fianc-but-the-creators-of-the-tech-warn-it-could-be-dangerous-and-used-to-spread-misinformation-/articleshow/84717296.cms" data-type="tilCustomLink">A man used AI to bring back his deceased fiancé. But the creators of the tech warn it could be dangerous and used to spread misinformation.</a>

The Chinese government believes online education is bad for students, parents and the society

<ul><li>India’s <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">Union Budget 2022</keyword> is expected to focus more on the learning loss due to COVID-19, and the implementation of the new National Educational Policy.</li><li>Last year, the budget allocation for the education sector was ₹93,224 crore, constituted 2.67% of the central government’s estimated budget for 2021-22.</li><li>Here’s what we can expect from the Union <keyword id="12134563" type="General" weightage="20" keywordseo="budget-2022-23" source="Orion">Budget 2022-23</keyword>.</li></ul>India’s Union <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword>, which will be presented by the Finance Minister Nirmala Sitharaman on February 1, is expected to focus more on the learning loss due to COVID-19, and implementation of the new National Educational Policy. Last year, the budget allocation for the education sector was ₹93,224 crore, which was ₹6,000 less than the previous year, constituted 2.67% of the central government’s estimated budget for 2021-22. <div type="image" title="Education sector budget over last five years" msid="89176503" hostid="261" caption="&amp;lt;p&amp;gt;Education sector budget over last five years&amp;lt;/p&amp;gt;"></div> According to the Economic Survey 2020-21, the expenditure on education by the union government as a proportion of the Gross Domestic Product (GDP) has been around 3% between 2014-15 to 2018-19. The National Education Policy (NEP), 1968 recommended the spending on education to be 6% of the GDP. NEP 2020 has reaffirmed this recommendation. However, the experts expect this percentage (2.67%) to go up to at least 8-9% this year. “At least 8-9% of GDP should be put aside for education. More allocation isn't only necessary at primary, secondary and higher education but, we need to also look at schemes for skilling our youth that are outside of the education system and make them eligible for employment opportunities currently there,” said Prateek Shukla, cofounder and chief executive officer (CEO) of Masai School. Here’s what we can expect from the Union Budget 2022-23 — 1. Increase in spending on teachers’ training The COVID-19 pandemic shifted the teaching mode from offline to online, which was difficult for some teachers to cope with the latest technology. Experts say that the government should draw their attention towards the teachers training programmes, as there is a massive need for the educators to be well versed with the latest technologies. Budget allocation to National Education Mission (NEM) in 2021-22, which consists of — Samagra Shiksha and teacher training and adult education, was ₹31,300 crore — a 2% decrease as compared to 2019-20. The Budget 2021-22 allocated to teachers training and adult education was ₹250 crore. “There is a gap in faculty training. We need to empower our experienced educators to understand new tools and techniques. It is important now to allocate budgets toward upskilling the existing instructors and training of fresher teachers, ensuring qualitative pedagogy. Further, there is a need to reimagine effective assessments focused on using digital methods and amplifying their benefits," said Ravi Panchanadan, managing director (MD) and CEO of Manipal Global Education Services (MaGE). Puneet K, President of the Narayana Group said, “There is an urgent need to raise the quality of our teachers, at the level of subject knowledge and in the use of technology and other tools for teaching. Furthermore, implementing the NEP requires a fundamental shift in the mindset of teachers towards engagement rather than instruction. This can only be achieved through a significant investment of time, effort, and funds on teacher upskilling. The government must consider this in its budgetary allocations.” 2. Access to smart devices like laptops, smartphones at subsidised prices Shifting of classes to online mode created a huge requirement for laptops and smartphones. A National Council of Educational Research and Training (NCERT) survey conducted in August 2020 revealed that at least 27% students in India did not have access to smart devices, which ultimately led to learning loss during the COVID-19 lockdown. According to a PRS India report, the Central government shared ₹818 crore across states and union territories to promote online learning. The Economic Survey 2020-21 observes that, as of October 2020, the percentage of students in government and private schools owning a smartphone increased from 36.5% in 2018 to 61.8% in 2020 in rural India. Experts believe that this year the government should roll out more initiatives, which can help students to get access to laptops and smartphones at subsidised rates because the future is online and the online classes will continue even after the pandemic comes to an end. “While we have ensured continuity, it is mainly limited to city limits due to erratic digital connectivity, which must be fixed on a war footing. Along with accessible internet, it is also vital to ensure that learners in need of digital assets are supported. Scholarships or subsidies to purchase laptops, smartphones, and other tech requirements, including more imaginative ways to utilise old digital assets, need to be explored, further,” said Panchanadan of MaGe. 3. Bring more focus on the edtech sector The edtech sector in India has been exponentially growing especially during the pandemic when the entire world moved towards digitalisation. The industry, which attracted a lot of private players like Byju’s, Vedantu, UpGrad and many more, is poised to become a $30 billion in size in the next ten years, according to a report by advisory firm RBSA Advisors <a href="https://economictimes.indiatimes.com/tech/technology/indian-edtech-industrys-market-size-to-reach-30-billion-in-10-years-report/articleshow/82295097.cms">cited</a> by the Economic Times. Education Minister Dharmendra Pradhan, on January 3, 2022, said that the Ministry of Education is in talks with the Ministry of Law and Ministry of Electronics and Information and Technology to work out a common policy to regulate the edtech sector in India as it has been gaining traction from the past two years. The edtech players in the market are expecting the Budget 2022-23 to have higher focus on the edtech sector and are also expecting to bring down the GST slab on educational services. “The 2022 budget is expected to have a higher focus on the edtech sector as a whole, with significant investments to enhance greater access to robust and improved digital infrastructure. The GST for educational services is expected to be brought down to 5% from the existing 18%, to increase accessibility and feasibility for students from lower and middle-class families. With greater internet penetration, the upcoming budget is expected to announce various initiatives to accelerate digital innovation in the edtech sector,” said Vaibhav Singh, co-founder of Leap Scholar, an online platform which provides guidance and coaching for study abroad. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-needs-to-maximise-on-lithium-ion-battery-manufacturing-for-rising-ev-demand/articleshow/89174199.cms">Budget 2022 needs to boost lithium-ion battery manufacturing for rising EV demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/railways-stocks-rally-on-expectation-of-strong-budget-allocation-to-the-sector/articleshow/89173796.cms">Railway stocks have been buzzing for the last one month on expectation of significant budget allocation</a>

Indian education sector’s budget wishlist – Subsidised access to laptops and smartphones, focus on edtech

<ul><li><keyword id="7496523" type="General" weightage="100" keywordseo="guvi" source="Orion">GUVI</keyword> provides tailor-made courses for learners, universities and employers.</li><li>GUVI has upskilled more than 1.7 million students and professionals in the latest technology skills. </li><li>IT major HCL on Thursday said it has acquired a majority stake in GUVI. </li></ul> IT major HCL on Thursday said it has acquired a majority stake in vernacular edtech platform GUVI -- one of the few companies in India to partner with Elon Musk's 'OpenAI' initiative -- for an undisclosed sum. The IIT Madras and CIIE (IIM Ahmedabad) incubated startup offers technical courses such as web development, AI module, <keyword id="358506" type="General" weightage="50" keywordseo="sql" source="Orion">SQL</keyword> and various other courses created by industry experts in vernacular languages. "Through this investment, the aim is to address the critical technical skill-gap across enterprises," said Shikhar Malhotra, Director-HCL Corporation. "We are delighted to associate with GUVI to ensure that technology aspirants have ease-of-access to learning and upskilling via holistic courses in the native language they are comfortable conversing in," added Malhotra. Founded by Arun Prakash M, Sridevi M and <keyword id="8039585" type="General" weightage="50" keywordseo="sp-balamurugan" source="Orion">SP Balamurugan</keyword> in 2014, GUVI provides tailor-made courses for learners, universities and employers. GUVI offers computer programming courses in Hindi, Telugu, Malayalam, <keyword id="6356629" type="General" weightage="50" keywordseo="tamil" source="Orion">Tamil</keyword>, English and Arabic. "We believe this association will be a game-changer for the edtech space servicing audiences in their mother tongue. Also, leveraging HCL's global network, we are looking forward to empowering a large pool of professionals," said Prakash, Co-Founder and CEO of GUVI. To date, GUVI has upskilled more than 1.7 million students and professionals in the latest technology skills and helped them gain placement across sectors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-will-soon-allow-you-to-translate-local-news-using-search/articleshow/94524557.cms">Google will soon allow you to translate local news using Search</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-rebound-amid-positive-global-cues-nifty50-edges-close-to-17000-44-out-of-50-stocks-in-the-green/articleshow/94523579.cms">Markets rebound amid positive global cues: Nifty50 edges close to 17,000, 44 out of 50 stocks in the green</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-active-covid-tally-decline-by-229-a-day-ago-union-health-ministry/articleshow/94524260.cms">India's active Covid tally decline by 229 a day ago: Union Health Ministry</a>

HCL acquires majority stake in vernacular edtech platform GUVI

<ul><li>With consumer interest at the core of the consortium, the <keyword id="1464841" type="General" weightage="100" keywordseo="edtech" source="Orion">EdTech</keyword> companies have committed to observe and adhere to a common ‘Code of Conduct.’</li><li>It would establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights.</li></ul> Leading EdTech companies under the aegis of <keyword id="128625" type="General" weightage="20" keywordseo="Internet-and-Mobile-Association-of-India" source="Orion">Internet and Mobile Association of India</keyword> (<keyword id="149966" type="General" weightage="20" keywordseo="IAMAI" source="Orion">IAMAI</keyword>) today announced the formation of the India <keyword id="12934640" type="General" weightage="20" keywordseo="EdTech-Consortium" source="Orion">EdTech Consortium</keyword> (IEC). Aligned with the Government’s recent advisory, the IEC will ensure that every learner shall have access to quality and affordable education, which not only improves their academic performance but also makes them future-ready. With consumer interest at the core of the consortium, the EdTech companies have committed to observe and adhere to a common ‘Code of Conduct’ and establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights. Several EdTech entities have joined the IEC such as such as Byju’s, Careers 360,Classplus, Doubtnut, Great Learning, Harappa, Times Edutech &amp; Events Ltd, Scaler, Simplilearn, Toppr, Unacademy, upGrad, UNext Learning, Vedantu &amp; WhiteHat Jr. The move to set up IEC comes at a time when Indian EdTech players are creating immense value for the global audience. The disruptions led by the pandemic and subsequent lockdowns compelled both parents and educational institutions to implement tech-enabled learning solutions, thereby accelerating the growth of the EdTech sector. Indian EdTech operators have been solving for accessibility and affordability through quality courses from best teachers, instructors and faculty members, to ensure that students across all age groups are benefiting from the innovation in the education sector. This has elevated India’s position on the global map as an education hub. The overall Indian EdTech ecosystem impacts over 500M+ school students, college students and working professionals across India. At this scale, it is critical that the ecosystem follows a framework that will protect the rights of our learners and all EdTech companies are committed to this. Subho Ray, President, Internet and Mobile Association of India, said: “IAMAI and members of the India EdTech Consortium (IEC) are deeply committed to ensuring ethical standards to protect learners on online educational platforms. IEC seeks to empower the learners by not just helping them make informed decisions but by also having their grievances redressed timely. The formation of this self-regulatory body is an important step towards protecting learners as more and more students, teachers and stakeholders are becoming a part of the online education ecosystem.” Commenting on the formation of the IEC, Divya Gokulnath, Co- founder of Byju’s said, “We are completely aligned with the Government's principles on safeguarding consumer interests and welcome the creation of guidelines that help students reach their learning goals in a manner that makes them future ready and conceptually strong. We have always believed that the student should be at the center of the education system and as educators we must do everything possible to create the right set of processes and methods to empower and enhance their learning." Vamsi Krishna, Co-Founder &amp; CEO, Vedantu, said, “The Indian EdTech sector has grown considerably over the last two years with funding and consolidations strengthening the ecosystem. However, while business growth is critical, so is consumer protection since this will allow students and parents to make more informed decisions about the future. Therefore, as part of the newly institutionalized IEC, we will build a sounder and more ethical ecosystem for students so that we can ensure their safety and mitigate any risks they may encounter in their journey to be future-ready.” Mayank Kumar, Co-Founder &amp; MD upGrad and Co-Chairperson, IAMAI EdTech Committee, said, “We are honored to be a part of the IEC at a time when the EdTech sector is accelerating its growth momentum. The last two years have witnessed the rise of online education as a connecting bridge to access flexible and quality education for students as well as working professionals. With the sole purpose of improving the delivery of education services, it is now crucial for us to foster and sustain stakeholder trust by safeguarding their interest as a practice. This initiative will go a long way in strengthening the EdTech sector and establishing India as the Teaching capital of the world.” In the recent past, the education sector has undergone significant transformation and EdTech has supplemented in driving new-age academic excellence. Having created a significant impact by offering quality and affordable education services, EdTech entities have also improved learnability &amp; employability for users to address the evolving needs of the job market. The adaptive learning solutions have ensured that learners are not merely ‘knowledge receivers’ but ‘knowledge creators’ as well. The sector has also created large number of employment opportunities. However, as the sector and end users grow at a fast pace, it is critical to establish a standard code of conduct for all Indian EdTech entities to adhere to and ensure that ‘learners’ remain at the core of all the business practices.

IAMAI establishes India EdTech Consortium to uphold Code of Conduct by  EdTech Platforms

<ul class="summary-list"><li>EdTech startup TinyTap raised $8.5 million for staff expansion and product development, Insider has learned.</li><li>The Animoca Brands' subsidiary is backed in the latest round by firms including Sequoia China and Polygon.</li></ul>TinyTap, an educational technology startup and Animoca Brands' subsidiary, has secured an $8.5 million funding round, Insider has learned.The Tel Aviv-based EdTech firm will use the funding for staff expansion and product development. Sequoia China, Shima Capital, Polygon, Liberty City Ventures, Kingsway Capital, and GameFi Ventures are among the backers for the company's latest funding round. Founded in 2012, TinyTap offers a platform for user-generated educational content, dubbing itself as "the world's largest library of games by teachers." Once acquired by investing giant Animoca last year, the startup began doubling down on its Web3 efforts.TinyTap began incorporating blockchain technology into its services with more tokenized content via <a href="https://www.prnewswire.com/news-releases/tinytaps-first-publisher-nfts-sold-out-generating-138-926-eth-us228-000-that-is-shared-with-6-teachers-301670163.html" target="_blank" rel="noopener">non-fungible token</a> collections. Animoca <a href="https://venturebeat.com/games/animoca-brands-acquires-most-of-educational-user-generated-content-firm-tinytap-for-38-9m/" target="_blank" rel="noopener">paid $38.8 million</a> in June for an 80.45% stake in TinyTap.Animoca cofounder Yat Siu says NFTs make it possible for teachers to "better generate equity from their work and link up with co-publishers who can handle the promotion of their courses, all while offering students enhanced learning materials." "Teachers and educators are among the most important content creators and contributors in society, and yet their wages typically do not reflect their critical importance," Siu said in a statement. "This is why we're incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education."The startup raised their latest round as venture capital investments became harder to come by. VCs and investment firms have pulled back as the technology sector faces economic headwinds amid a higher interest rate environment, looming recession, and bank turmoil stemming from last month's fall of Silicon Valley Bank.While raising capital last year, TinyTap cofounder Yogev Shelly told Insider that the round took longer to close because of fallout and uncertainty in the crypto sector as well. "We started in October and within a month reached 80% of what we aimed for in the round," Shelly, who is also CEO, told Insider. "By November some big investors who had soft committed for a large part of the funding had to fold due to certain fallout and rising uncertainty. As a result, the round took a bit longer to close, and we had more to prove."Shelly added: "After the success of the PublisherNFT Auction, when we sold 80% ownership in 12 courses for 243 [ether] while doubling TinyTap revenue in 2022, investors took notice and we over-subscribed."

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