Edtech should serve a purpose higher than just making money: Santanu Paul
The founder and CEO of TalentSprint, a NSE group company, on how edtech companies can play the long game
By Santanu Paul
Last Updated: Aug 02, 2023, 12:15 IST5 min
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Important as product innovation is, it is incomplete without pedagogical innovation. Most learners have traditionally grown up in an environment of passive learning where pejorative phrases like ‘spoon feeding’ are commonplace, where faculty are supposed to lecture and students are expected to pass multiple-choice tests. Edtechs need to annihilate these practices and usher in active learning.
In our version, learners arrive at active learning through problem solving. An immersive environment helps them imbibe four critical skills: Learning to learn learning by doing, learning with peers, and learning without fear of failure. Instead of lecturing, instructors present challenging problems and guide learners to find their own solutions through a process of stumbling, exploring, discovering, collaborating and presenting. We are reminded of Confucius: “I hear and I forget, I see and I remember, I do and I understand."
A key differentiator for every edtech is its technology platform. Yet, edtechs are not mission-critical systems they can’t be compared to platforms that undergird telecom satellites or stock exchanges. This provides an economic opportunity to embrace open source software and integrate off-the-shelf components in ways that drive down the total cost of building and operating edtech platforms by orders of magnitude. This is referred to as frugal engineering. For example, we built our award-winning platform iPearl.ai on top of Open edX (an open source learning management system from MIT) with a shoestring budget and a young engineering team, and passed on the savings to our learners.
While it is fashionable in the edtech sector to appoint high profile cricketers and Bollywood stars as product ambassadors, it appears unconscionable to collect hard-earned money from students and transfer that to super-affluent celebrities who do not need that wealth. Similarly, there have been media blitzes of edtech founders showcasing themselves as gravity-defying, larger-than-life entrepreneurs. As is now obvious, these marketing strategies have backfired.
In contrast, prudent marketing requires focus on superior word-of-mouth and higher customer referrals. Since the beginning, we have focussed scientifically on quantitative measurements of learner delight and used the Net Promoter Score framework (NPS) for planning, monitoring, and improving our offerings. With a current company NPS of 85, we have exceeded targets we once set for ourselves.
Edtech is currently getting a bad rap on corporate governance. It is a self-inflicted wound. Publishing audited accounts within three months of financial year closing and appointing credible independent directors to the board does not require any rocket science. Every edtech can and should do it.
The bigger question is whether edtechs realise they should serve a purpose bigger than just making money for founders and investors. In Deep Purpose, Prof Ranjay Gulati says, “Leaders orient their organisations existentially around the North Star of purpose, articulating a conscious intent to conduct their business in a more elevated way. Purpose in their minds is a unifying statement of the commercial and social problems a business intends to profitably solve for its stakeholders." Very wise words to live by.
The writer is founder and CEO of TalentSprint, an NSE Group Company
First Published: Aug 02, 2023, 12:15
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