The growth of EdTech is being recognized as an important development to educational innovation. Educational firms Kaplan and Pearson are helping startups and their own brand by investing in this emerging field.
Education is one of the hottest innovation trends right now, and is getting a lot of attention from larger organizations. Kaplan and Pearson, for instance, both announced incubation programs to support startups. Kaplan’s EdTech Accelerator launched in collaboration with startup accelerator TechStars, and Pearson Catalyst is Pearson’s edtech. Both corporate-funded programs will select promising new companies and provide meeting space, industry leader mentoring and other resources. These companies will develop tech-centric learning products that will be demonstrated at events, and founders will present to potential investors.
Kaplan’s collaboration incorporates a high-rated startup accelerator
The Kaplan EdTech Accelerator is a three-month program that will serve 10 startups. These companies will create their products or services that apply to various stages of education: “K-12, higher education, professional education, lifelong learning, and other areas.” TechStars, who has completed multiple accelerator programs and attracted company funding in the past, will invest $20,000 in each company. Kaplan will provide access to the “Kaplan Way for Learning” program,” which leverages science, instructional design and technology to support learning products. Kaplan’s educational reach of students, school districts and university partners could also give a company a sizeable customer or client base.
Pearson is specializing specifically with young education startups
The Pearson Catalyst incubator program is specifically designed for companies less than three years old and already have viable products. This program is at least three months long, and companies receive up to $10,000 each and are assigned a sponsor from the Pearson executives. Pearson will select startups that complement their own brand of educational materials and services. These two programs show a developing strategy of corporate groups investing in edtech in order to cultivate innovation within the industry while simultaneously boosting their own presence within the field.