Dawn of the Age of Digital Learning: What We Look for in Founders

Dawn of the Age of Digital Learning: What We Look for in Founders

The Coronavirus pandemic has caused a massive shift in the education sector, pushing 1.6 billion students and teachers to transition to online learning. This sudden change has marked the beginning of the Age of Digital Learning, where the barriers to accessing education and opportunities have significantly lowered due to the digital infrastructure that has been growing over the past 25 years.

Before the pandemic, only 30% of students were taking online courses. However, in the After Disease (A.D.) era, essentially 100% of students are now studying online. This transition has sparked the growth of the digital learning market, which is currently valued at $160 billion and projected to reach $440 billion by 2026, growing at an impressive 16% CAGR.

Digital learning, which currently represents 2.3% of the overall education sector, is expected to reach 11% of the market by 2026, making it a trillion-dollar industry with a 30% CAGR. This growth rate is close to double the rate projected before the pandemic hit. Just like the SARS outbreak in 2002 led to the birth of modern E-Commerce in China, the current crisis is propelling the digital learning market to new heights.

One unique opportunity in the digital learning space is the development of educational video games. On average, students spend around 12,000 hours playing video games, which is roughly the same amount of time they spend in the classroom. Creating games that incorporate key educational materials can provide a subliminal learning experience, known as Invisible Learning.

Another important aspect of digital learning is the shift towards personalized and peer-to-peer learning. Studies have shown that the best way to learn a subject is to teach it to someone else. With accelerated and personalized learning, students can advance based on their competency, moving away from the traditional one-size-fits-all approach. This transformation will lead to bespoke learning experiences tailored to individual needs.

Furthermore, the digital age is reshaping the landscape of higher education. With the number of students projected to double from 207 million today to 414 million by 2030, online education will be at the forefront of this growth. Regional brand equity in the higher education space will become less meaningful, as top universities with accessible online platforms will replace small hometown colleges across the country.

In order to thrive in this rapidly evolving digital learning landscape, entrepreneurs and founders must possess certain qualities. Intelligence is important, but what matters most is determination. Starting a startup often means facing numerous obstacles and dealing with big companies that may try to ignore your existence. Founders must have the resilience to keep pushing forward despite these challenges.

Imagination is another crucial trait for founders. It's not about solving predefined problems quickly, but rather coming up with surprising new ideas. In the startup world, good ideas often seem bad initially, and it takes imagination to see their potential. Successful founders also tend to have a piratical gleam in their eye – they break rules that don't matter and are willing to take risks.

Additionally, the dynamics between founders play a significant role in the success of a startup. Empirically, it's challenging to start a startup with just one founder. Most of the big successes have two or three founders who genuinely like and work well with each other. While disagreements may arise, a strong and harmonious relationship is essential for navigating the unpredictable startup journey.

In conclusion, the Age of Digital Learning has been accelerated by the Coronavirus pandemic, transforming the education sector and creating immense opportunities in the digital learning market. Entrepreneurs and founders looking to thrive in this space must possess determination, imagination, and the ability to form strong partnerships. As the digital learning market continues to grow, these qualities will be instrumental in shaping the future of education.