According to one estimate, the education market in India is worth USD 100 billion annually. With the advent of technology and the rapid pace with which smart phones have been assimilated in our day to day lives, it is not surprising that new time and serial entrepreneurs are increasingly targeting education sector.
Understanding this trend Vishal Medida, Rohit Dawra and Manav Lalchandani founded Yes Ma’am in June 2015. Yes Ma’am is an app based solution which aims to revolutionize the way school authorities communicate with parents and teachers and also to make the task of schools easier in reporting, grading, scheduling various school activities. Vishal and Rohit are students from VJTI and Manav from TSEC. They are currently incubated at Zone Startups India.
“We always wanted to do something on our own and Yes Ma’am is not the first attempt at it.We first started our journey when we started a playschool for kids during our 10th vacations.After that,we tried our hands at many things before eventually failing at the last hurdle.From launching a student magazine to a website for hotel discounts to building an artificial football turf,we have done it all.The idea for Yes Ma’am was a Eureka moment.We felt that there was a vacuum in the market for helping connect students,teachers and school authorities. While working on the problem,we found out that due to lack of communication,the progress of the child is hampered.So we wanted to help improve the child performance and so we decided to analyse the data with schools and find any actionable insight which might help the parents and the teachers.What started as a basic communication medium for the stakeholders is now turning into an essential aid for teachers and parents.” said Vishal Medida to TOS.
Ed-tech Startups are gradually becoming hot favorite for even serial entrepreneurs and it is not surprising nowadays to hear 2-3 Ed-Tech Startups being launched every month from the Startup Capital of India, Bangalore. Remaining solvent has become a challenge for many. “Unlike other players in the markets who initially focus on large user base, we are simultaneously focusing on having a sound revenue model in place with the word go. Besides that,no player is offering the complete range of services we offer.So there are many who are targeting the parent -teacher communication sector but very few who are looking at analysis of student data.” Vishal added.
Recently Yes Ma’am was selected for incubation at Zone Startups India. They are also in advanced talks with 4-5 schools who are willing to use their product in their schools from the next academic year.
Essentially a deeply fragmented market, Startups have gradually started to address to the demand of the education sector . Though investment in the sector is at nascent stage, big VC fund houses have started showing interest in the sector. Startups like UEducation, Toppr and TestBook have been the major beneficiaries, with each one of them having successfully raised funding to the tune of $10 Million or more.