EdTech Startups in Sweden is the field that brings together education and technological innovation. Examples of this include innovative learning tools in schools, massive open online courses (MOOC), and technology that assist you to learn new experiences in a shorter amount of time.
The country regularly organizes events like EdTech Sweden among Edtech Startups in Sweden to encourage innovations in the sector. It is a group of individuals and organizations that collaborates with the goal of fostering innovation in the field of education. EdTech Sweden is responsible for organizing an annual EdTech event in Stockholm. They have also just published a report that has 75 listed EdTech firms and intriguing observations about the market.
EdTech startups are working to make education more accessible to a wider audience while also improving the teaching methods that are currently in place to deliver information. This helps further global progress, as well as increases productivity and a reduction in the brain drain that occurs in some countries. At the very beginning of an edtech company’s existence, it is absolutely necessary for the company’s founders to have a profound familiarity with and skill in the education business.
The Best Edtech Startups in Sweden
DigiExam
DigiExam is a company that develops online examinations, as the name suggests. Using this technology, schools are able to transition away from using paper tests and instead use online equivalents. Exams are subsequently easier to understand, more interesting to take, and more convenient to grade as a result. It has been demonstrated that schools can save both time and money by using online examinations.
DigiExam successfully financed 30 million SEK in 2016 and nearly increased its annual income to approximately 6 million SEK in 2017. In addition to its office in Stockholm, the company also has a presence in New York, where it has established connections with some of the most prestigious educational institutions in the United States.
Schoolido
Schoolido is an online learning community designed specifically for secondary schools. The fact that all of the course materials, schedules, and other pertinent information can be found in one location makes life simpler for both the instructors and the students. Additionally, the platform gives students the opportunity to learn content in the manner that is most effective for them, whether that be through reading, viewing videos, listening to audio recordings, or other methods.
Related:ย Top 5 Tech Startups in Sweden
Customized education in schools not only appears to be an excellent opportunity but also, and perhaps more crucially, it appears to improve the efficiency of learning in general. The company has successfully funded over two million dollars, and new leadership has recently been brought on board in the form of a qualified CEO.
Coursio
Coursio is an online learning platform and among the best edtech startups in sweden that connects students, collaborators, and content creators with educators. The business has been recognized by Edtech Europe as one of the top 20 e-learning companies in Europe in terms of both growth and innovation, and it has received funding of approximately one million dollars from Gullspng Invest.
Optolexia
Optolexia has devised a test for children in which they read text that is displayed on a monitor while an eye-tracking device closely monitors their eye movement. A reading disability can be detected by an algorithm based on the child’s eye movements, providing parents and teachers with an early warning to take action.
The best part about the test is that the results are correctly measured and have been validated by scientific research. The testing only takes a few minutes to complete and can be done anywhere. In 2016, Optolexia was recognized as the best edtech startup of the year, and the company also raised 10 million SEK during the same year.
Kognity
Kognity is a company that provides schools with interactive digital textbooks. It provides students with learning assistance in the form of movies, animations, and questions that are immediately reviewed. The digital textbooks record the data of students’ interactions with the textbooks and run analytics on it so that educators and school administrators can gain new perspectives.
The companyโs first office was established in Stockholm, Sweden, in 2012, and it has received finance in the amount of USD 24 million from Alfvรฉn & Didrikson, Gullspang Invest, Norrsken VC, and one other investor.
Monetization Model and Business model of Edtech startups in Sweden
Is there a profitable market for edtech startups in Sweden? You have a wide variety of options to choose from in terms of organizational structures.
The Top-Down Approach
When marketing to educational institutions, one of the most popular and conventional techniques is to use a top-down strategy or an institutional model. Other prominent approaches include:
First, the overall size of the market is assessed, and then, with the anticipated rate of penetration serving as a point of reference, the volume of the target market is calculated.
The next stage is to formulate a plan for successfully penetrating this new market and bringing in the predicted revenue. In this model, a single purchase by a school district will cover the needs of all of its individual schools. One major benefit of the top-down approach is that it is more likely to win significant contracts from school districts.
Freemium Model
A sizable portion of Edtech startups in Sweden tend to rely heavily on the freemium pricing model as their principal source of income. Customers get the opportunity to test out your product for no cost and then if they like it, they have the option to upgrade to a premium membership at a later time if they wish to do so. This type of marketing technique is employed by several businesses.
A freemium strategy may restrict the features that are accessible to users, or it may restrict the amount of time that users can access those features by charging them for access after a certain length of time.
Edtech Marketplace Model
You can build a marketplace similar to Amazon where teachers can sell their own courses even if you don’t have any unique content to offer. With the help of this type of business model, educators have the chance to advertise their classes to a sizable population of people who might one day register in such classes, while at the same time giving the platform with a prospective cash stream.
Tools like Zoom-K12, a cutting-edge cloud platform for online education designed specifically for K-12 Schools and Colleges, can be used to build apps for edtech startups in Sweden. This paves the way for edtech startups in Sweden to compete successfully on a worldwide scale.
This online education platform comes equipped with a built-in material creator that simplifies the process of creating engaging multimedia lessons for students that may incorporate anything from YouTube videos to external URLs.
