#4: Vulnerability, online learning and building an EdTech company – Rotem Carmely
Educational technology has been on the rise for the last 15 years. Yet, completion rates of online courses range between 5% and 15%. Online learning seems to lack powerful engagement mechanisms and impact in students' lives. EdTech companies also receive a very modest portion of the global venture capital pie compared to startups in other market segments. Rotem Carmely joins us for a deep dive into the world of online learning.
Rotem is the co-founder and CEO of Clustered, a startup on a mission to make learning as social as possible. Clustered is a collaborative learning platform for learners. The platform serves as an all-in-1 platform to create and scale group-based courses. Rotem is also a Transcend Fellow a highly selective programme for founders building the future of learning and work.
Online education as a business: a trade-off between impact and scalability?
EdTech has experience impressive growth over the past decade, yet companies in this space only receive about 5% of the total venture capital pie. Rotem sheds light on some related challenges in accessing finance and scaling the business. The venture capital community is predominantly growth driven, looking for quick and exponential growth. This collides with the impact- and quality-driven nature of education. Highly scalable EdTech often risks compromising on quality.
Vulnerability and success porn: Why is it hard to learn from success stories?
As an advocate for vulnerability and openness Rotem explains how talking about failures, fears and the rocky road to success is key to creating honesty around career challenges.
“It’s really hard to learn from success. You learn more from people’s failures.”