Can Venture Capital Fix Our Dysfunctional Educational System?
Venture capitalists are betting that technology will play a major role in fixing a broken U.S. educational system. Accel Partners, Spectrum Equity and Meritech Capital Partners put their chips down last week with a $103 million investment in Lynda.com, which sells monthly subscriptions for training videos in business, technology and creative skills.
Notes that education startups meet the need of students who cannot afford higher ed nor meet traditional requirements, many of whom require remedial education. The demand for these courses are huge, and even traditional universities in California have teamed up with Udacity in order to make courses more accessible.
Across the board, education startups such as these, called Massive Online Open Courses (or MOOC), are finding success and stability: Udacity, Coursera, Pluralsight, 2tor, Craftsy, Lore, etc. The demand certainly exists, and the MOOC platform are achieving financial success.
MOOC does not represent a complete solution to problems in education, and a lot of obstacles still stand in the way, especially accreditation. The current economy, however, rewards innovation, and education reform had until recently been untouched.
The VC interest in platforms such as Lynda.com represents an exciting new trend and potential for a new vision of education.
Interested? Click the title or image to read on.
Source is ReadWriteWeb.com.
You might also enjoy: