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Investing in Workforce EdTech: Staying Ahead of the Curve
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Rita and Kevin with some of the Arc client family at ISTE earlier this year. |
As the very nature of work evolves rapidly, so does the nature of workforce training and education. Companies and students are demanding change, colleges are adapting, and investors are making workforce edtech a top priority - but are you considering how you can take advantage of this opportunity?
Technology is playing a highly disruptive role, both by replacing some jobs (an estimated 800 million by 2030, across the globe and across many sectors, according to theMcKinsey Global Institute via LearnLaunch's
The State of Workforce EdTech
report), and then in
creating
millions of jobs that must be filled by workers with solid STEM skills. And "soft" skills - such as problem-solving, communication, and critical thinking - will always be in demand.
With an existing workforce in the U.S. of 170 million people, and an overall population between ages 16-67 of 260 million, the magnitude and urgency of the need to upskill our workforce requires immediate and robust solutions for companies looking to train and re-train employees. On the ground, this means that colleges and universities want to know what skills employers are looking for, while employers want to understand what students know and can do. The challenge comes in translating academic coursework into the skills and competencies that employers understand and are looking for as they increasingly adopt skills-based hiring practices. In some cases, colleges are moving to credentialing verifications and badges to emphasize the workplace skills gained in school.
Corporations are also turning to outside solutions and partnerships to bolster their internal HR learning and development departments. Whether by working directly with local community colleges or in looking to edtech providers for internal solutions, companies are signaling an increasing interest in how their workforce is developed.
This intersection between education and training translates into significant opportunity for edtech companies - and has also led to the blossoming of a specific workforce development investment market. Arc's Rita Ferrandino recently discussed this market with Jean Hammond, founding partner at LearnLaunch, and a group of angel investors in the Buffalo area. It's clear there's a growing interest in the edtech workforce segment across the country - and a growing amount of funding available. So as entrepreneurs consider opportunities and ideas in the coming years, the workforce development market should be a top consideration, as everyone fights to keep ahead of the accelerated pace of obsolescence. If you'd like to discuss further where you may fit in this arena, drop us a line at info@arccd.com.
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Spring Selling Season is Coming...Are You Ready?
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Rita joins enthusiastic attendees at the "Selling into US Education Market" Bootcamp at Catalyst@PennGSE.
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If you are deploying a "spray & pray" sales strategy, now is the time to pause and build your strategic and tactical sales plan. In the education market's defined sales cycle, spring is peak selling season.
Companies must plan now to execute to excellence in the coming months. To learn more about how Arc can help you accelerate, email us at
info@arccd.com
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Arc Family Webinar: Special Education Private Programs
Learn about private programs serving individuals with disabilities of all ages during Arc's free webinar on Thursday, December 19, 11 am to 12 pm EST. Speakers from the National Association of Private Special Education Centers (NAPSEC) will share insight into this growing market segment. To register, email rita@arccd.com.
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Arc Portfolio News
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Kevin and the TippyTalk team with TippyTalk user Sady at the Closing the Gap Conference in Minneapolis. |
Arc launched a new company,
Accessible-Tech, focused on selling and marketing innovative products in Assistive Technology. Check out the online store, featuring
TippyTalk and
Skoog, and keep an eye out for new products in 2020.
The Arc Accelerator welcomes our latest company, JustLearn
.
Its PlanetBox uses the science of aquaponics ecosystems to teach in K12 and higher education classrooms.
ChalkTalk released an updated version of its personalized learning program, adding new features including review and unit practice classes, real-time tracking, and personalized scheduling. The team has also launched a new blog - take a look at the first two posts here.
Check out all that Choosito's XPrize
Virtual Librarian and its users have taught, learned, and achieved this past summer with the help of partners all around the world.
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"A startup is a temporary organization used to search for a repeatable and scalable model."
- Steve Blank, serial entrepreneur, Stanford University professor, and father of the Customer Development methodology
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Opportunities and Resources
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Arc portfolio company TippyTalk
and Kevin met with shareholder
Enterprise Ireland in Shannon. |
Join Catalyst @ Penn GSE for an in-person bootcamp series,
Let's Talk Tech: Developing Your EdTech Product
. Taking place on Tuesday, January 28 at 9 am, the session is designed to take education entrepreneurs from initial idea through to early-stage startup.
Nominations are now open
for the
Science Educators' Best of Show at NSTA 2020.
Science and STEM companies, products and services will be recognized in the following categories: "Outstanding Vendor, Attendees' Choice", "Best New Technology Innovation Award", "Best Tried & True Technology for Teaching and Learning", and "Best Educator Experience."
Looking to work with Educational Service Agencies? Learn more here.
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| Arc congratulates our writer Melissa Nilles and her husband John as he recently took command of the USS SPRINGFIELD in Pearl Harbor, HI. We wish John, his crew, and their families fair winds and following seas over the coming years. |
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Government Relations Update
2020 State Legislative Sessions
As state legislatures across the country prepare for the 2020 session, now is the time to propose legislation or changes to your state legislators, and start preparing to track what bills are being filed and might be heard this session. Education is a regulated industry, making it essential to pay attention to education proposals and advocate for your position. Arc's legislative consulting service can assist - reach out today at info@arccd.com.
The California Consumer Privacy Act (CCPA) takes effect on January 1, 2020, and will impact anyone sending to e-mail lists. "Why Should Marketers Care About the CCPA", from Jebbit, is a helpful start to understanding the legislation and its practical application.
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Upcoming Events
December
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12/8: EdEntrepreneurship Graduate Class, PennGSE, Philadelphia (Rita)
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12/9: DOLS Dinner, NYC (Rita)
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12/10: NYC meetings (Rita)
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2/11-13: Sales Summit with client, Sarasota (Rita)
- 12/16: Congressional fundraiser (Rita)
February
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- 2/16: EdEntrepreneurship Graduate Class, PennGSE, Philadelphia (Rita)
- 2/18: Research to Practice Bootcamp, PennGSE, Philadelphia (Rita speaking)
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What Arc is Looking for Now
Arc is looking to work with a few select growing education technology companies in an advisory, board or coaching role. More than 80 percent of the companies that have worked with Arc received an external capital infusion or acquisition offers within a year. Arc will also consider a few investment opportunities. If you know of a company positioned for strategic growth, please let us know.
Finally, because education is a regulated industry, education companies need to incorporate a government relations plan in order to optimize revenue. Arc's strong government and grassroots relationships, education industry expertise and business acumen allow for successful advocacy at both the federal and state levels. Check out our Web site at
arccd.com or e-mail us at
info@arccd.com.
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