Curated by the Knowledge Team of ICS Career GPS
Education
E-learning: Why an ecosystem fostering regional languages is vital for edtech
Excerpts from article by Ashish Chaturvedi published in Your Story
In the early days of edtech, startups focussed on creating disruptive innovations in learning techniques. They used smart technologies and virtual learning ecosystems mostly targeted towards Tier 1 and English medium schools.
This was followed by assisted learning tools that helped in building cognitive functions, through STEM learning, coding for kids and even basic AI and robotics.
Now, with the pandemic, edtech is stepping up to meet the demand for continuous education for the masses, leading to another major challenge getting added to the digital divide – the language divide.
The Language Divide
India has 22 languages, spoken by 96.71% of the population, and over 19,500 dialects, according to the Census 2011. In spite of this, English largely continues to dominate the web for the second largest internet user base in the world.
As per a study by KPMG and Google, Indian language internet user base is currently growing at a CAGR of 18%, as compared to 3% growth of English users.
Further, 75% of India’s active internet users are going to access the web in Indian languages, surpassing the English user base by 2021.
The report also states that Hindi internet users are going to outgrow the English user base, with Marathi and Bengali being the other two Indian languages to drive growth.
Another report, by Internet and Mobile Association of India (IAMAI) and Nielsen estimated that India has over 71 million children, in the age group of 5-11 years of age, that access the internet using devices of family members.
Given this growth potential, it is high time the edtech startups and innovators give a serious thought to make regional language content accessible to the masses. Some of the key tools that are driving this change include:
Pre-recorded lectures in regional language Having school teachers to record lectures in the regional language, which can then be accessed by children, is one of the simplest formats of teaching via online tools. Although not interactive, this allows for passive knowledge transmission and parents can then step in to support and help children learn, taking guidance from the recorded lectures.
CAREER
4 sure-fire ways to crisis-proof your startup
Excerpts from article by Pratik Dholakiya published in Small Business Trends
Being in a startup mode can be exciting and crippling at the same time! On one hand, you may feel a sense of triumph over the challenges thrown at you. On the other hand, the inability to manage crises effectively can make you wonder how you’ll keep your dream venture afloat.
Here are some strategies to protect your venture in a crisis:
1. Keep a check on your financials
- Have a Strategic Financial Plan in place: This enlists your sources of income, business expenses, and future investments and keeps a check on your cash reserves. This plan will help you outline a clear business goal, spend your money wisely, and cushion you against the economic crisis.
- Ask for upfront payments: Working with clients without money exchanging hands can put a strain on your cash flow, proving to be a huge financial headache in the future. Make sure you include the payment terms in your project agreement, converting your cash flow crunch into a cash flow surplus.
- Secure your funding: Prepare for tough economic crises by securing your lending options. Firstly, stay updated on the changes in lending procedures and check whether or not your industry is affected by a crisis. Talk to your bank about your options.
- Cut Down Costs: Look for ways to minimise overhead costs. For instance, allowing your employees to work from home or a shared workspace can reduce costs while improving business productivity. Similarly, hire freelancers.
2. Play to your strengths
In a crisis, it’s best to stick to what you do best. This isn’t a good time for experimenting with new products or services. So, work on perfecting your existing skills and offer solutions that meet customer needs.
- Prioritise Customers: Customers are the lifeblood of any business. If they stay loyal to your business, anything’s possible! Top-notch customer relationships can help your business stay afloat, regardless of the circumstances. A startup cannot afford to lose even a single customer. So, think of ways to add to customer delight.
- Stay Consistent on your Brand Promise: As mentioned earlier, this isn’t the time to experiment. Stick with what you are known for. So, instead of looking for new markets, do what your brand promises while looking for innovative ways to manage customer issues and improve services.
- Leverage the power of Digital Marketing: Ensuring an up-to-date online presence is essential to keep your venture afloat during tough times. Invest in digital marketing strategies and small business SEO to keep customers informed and engaged.
3. Tackle digital security concerns
The Internet of Things (IoT) has played a huge role in transforming startup owners’ visions into tangible business models and products.
However, greater connectivity raises multiple security concerns as IoT devices are attractive attack vectors for cybercriminals. For instance, vulnerabilities in one device can make way for hackers and increase the number of possible points of attack.
Startups are the favorite targets for cybercriminals. A recent handbook titled ‘Cybersecurity for SMEs & Startups’ by CyberPeace Foundation (CPF) revealed that startups and SMEs are most vulnerable to such attacks.
Further, home-based entrepreneurship, ongoing work-from-home policies, and increasing dependence on freelancers have exposed businesses to security risks like data breach and attacks on IoT devices.
All this makes it critical for businesses to plan and execute strategies to protect their network.
4. Have a crisis management team in place
Crises are often accompanied by controversies. The unexpected twists and turns, the rising anxiety and the pressure to respond to the situation can trigger uncoordinated actions, leading to bad press and reputation damage.
Inaction is the worst response to any crisis. Plus, a disorganised response not just causes panic but also attracts reviews from a host of departments, including the legal, corporate affairs and senior management.
Therefore, it’s wise to have a crisis management team of trusted and cognitively-diverse employees.
These employees should be experts at crafting a fitting communication and making rapid tactical decisions during this period. Make sure you choose your spokesperson carefully.
(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
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