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The Milken Institute is a nonpartisan think tank that believes in the ability of capital markets being the forerunner of solving urgent social and economic issues to improve lives. Every year, panelists join together to form the Milken Institute Global Conference. This year, part of their focus was on developments in education technology to improve student achievement across the country and around the world. Internet access along with improvements in computer technology have already changed the how teachers interact with their students. In today’s technologically advanced society, entrepreneurs are rushing to the opportunity to promote their products for the advancement of student learning. Some of the more notable products are that of online classrooms, educational games and interactive activities.
The educational industry attracts entrepreneurs because the major troubles in the sector are presented as an opportunity for improvement and wealth gain for these entrepreneurs. Education has been a hotbed for improvement for years, and with the increase in technological advancements, it only makes sense that technology will be used to mend the underlying issues in education.
Online education is an area that is set for continued innovation. Chip Paucek, the chief executive of the online education platform for schools, 2U, predicts that this century will be the era of online learning and education. Paucek thinks that the stigma that comes with getting an online degree will eventually disappear. As long as the quality of education is the same, students should have to pay as much for an online education as they should with an in person education. The continued failures of online education have hindered its development along with taking these preconceived all over the world. There is plenty of room for innovation; however, it is far too early to make predictions on which startups will have long-term success in this growing industry.
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