The tablet and mobile devices are becoming standard tools in the classrooms, and MOOCs democratize education. Interest in self-studying is soaring, and as apps like Duolingo show, reaching hundreds of millions of users is no longer a fantasy.
Likewise, economic and market conditions are better than ever before. Governments realize the importance of technology in changing the outdated education industry. EdTech funding jumped 55% last year, and a number of EdTech startups are nearing the $1 billion valuation mark.
Education is a tough industry to build a new business in. It’s bureaucratic, slow-moving and political. Luckily, schools and governments have realised this and have started to take initiatives to make it more possible for startups to bring a change.
Teachers using the technology don’t have the power to make purchasing decisions for school districts, and administrators are under pressure to spend tax dollars frugally. The next Facebook of EdTech will have to come up with a smart business model that caters for these needs.
While most people want to be productive more than they want to play games or spend time on social media, education isn’t as addictive. To be successful in EdTech, you need to design for retention, incorporating smart onboarding, gamification and social features.
EdTech is currently less than 5% of the total $4 trillion global education market, signaling a clear potential for growth. But to succeed in the market, education apps have to be designed with clear sales and distribution model and a monetization strategy in mind.
How you design your app is more important than ever before. Efficient sales model, monetization and user retention are at the core of product strategy of any successful mobile app. The next killer app in EdTech will be as engaging as Angry Birds and as viral as Uber.
“There’s not much humility in their vision: they say openly they want to do what Henry Ford did to cars, or what Rockefeller did for oil.
They want Appster to be the ideas development hub of the world.”
Only the best engineers: “Applying for a job at app-building company Appster, seems a little like applying for a high-security-clearance government job.”
Their audacious vision is to help transform the most innovative and challenging ideas into reality, by becoming the leading technical co-founder for entrepreneurs.
Appster has [over] 110 employees, and they are adding 50 to 60 employees this quarter. With an office in San Francisco, and they have a team of executives and board members that includes the former chief financial officer of PayPal, David Jaques.