How to Build an Online Education Startup?

Table of Contents

  1. Why Start Edtech Startup Now
  2. Set Yourself a Direction Where to Move With the Idea
  3. Market Research
  4. Product Concept
  5. Monetization
  6. Education Startup Funding
  7. Where Can I Find an E-learning Development Company?

Why Start Edtech Startup Now

If you are searching for the answer to “how to start an ed-tech startup”, most probably you have the feeling that there was no better time for this than now. Educational institutions — private and public — are actively introducing distance learning, the number of online schools is growing, people care for self-education for building their career and promotion.

Set Yourself a Direction Where to Move With the Idea

Let’s start with who you are and what you want, as all the other steps depend on this. Answer in writing a scope of questions to set yourself a direction.

Market Research

The first step of starting an e-learning business is to find the niche in your market, investigate what’s popular in it and what it lacks.

Product Concept

The main idea of building a product concept is to create a structured answer to the question: “what solution do I want exactly” and send it to app developers who will help you with the tech part of building your app.

  • Describe the target audience of the app (who is your user, how old is he or she, what is his/her background).
  • How users are going to utilize the application (do they need a permanent Internet connection, camera, GPS, etc.)
  • Specify the ways you are going to monetize your product.

Monetization

Here’s the list of the most common of them depending on the solution type.

  • In-app advertising — earn revenue for showing third-party ads within their mobile applications
  • Freemium — open extra features for those who want them
  • In-app purchases — encourage users to buy additional content, in-app currencies, customization options, etc.
  • Subscriptions — provide access for prepaid conditions- time, amount of users, etc.
  • Data licensing — sell users behavior aggregated non-personalized data
  • Sponsorships — find sponsors and gain revenue from advertising them in your app.
  • Payment per a course
  • Freemium
  • Advertising
  • Sponsorship.

Education Startup Funding

Some startuppers have their own project start budget, others only partially or lack some amounts. In case you need fundraising for your education startup, you can consider an option of finding an e learning business angel or venture fund online through investment platforms like:

Where Can I Find an E-learning Development Company?

Finding a development company for your startup is not a big deal today, as there are lots of them in the market — just open a listing like GoodFirms, for example. The main part is to make the right choice. Find the good tips and points to check:

  • Company’s awards and achievements in edtech development
  • Using Linkedin Free Premium Version you can spy on how’s company feeling — for instance, preliminary assess the senioritis of the team
  • MVP scope (what features will be included in the first priority and what will go to the next releases) and backlog (is the list of epics — functional parts of the system- and user stories — detailed requirements for developing functionality with business value)
  • UX/UI concept (what your solution will look like and feel like)
  • Project Roadmap and release plan (project stages, key dates, deadlines, list of system documentation, etc.)
  • Plan of communication and collaboration with all the involved parties, taking into account their availability, importance, and responsibility.
  • Backlog (including user stories, with acceptance criteria and designs, based on clear and confirmed requirements) is built for the very first sprints. Sprint is a time interval in which a piece of functionality is developed, ready for production.

Conclusions

After the successful launch, a startup needs to struggle for success really hard. What you’ll need further are activities to develop your product, business, and service. In the case of an education mobile app, you’ll need to work hard on the app store optimization(ASO) and app user satisfaction by adding new features and altering your app after A/B tests. In case you decide to create a web solution, you’ll need to create or buy qualitative courses, partner with universities and lectors, spend on marketing, online promotion, and SEO. Anyway, at least now you’ve got an overall notion of how to start an education startup.

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