SINGAPORE'S FIRST CORPORATE ACCELERATOR FOR EDUCATION TECHNOLOGY
Singapore, April 23, 2015– Lithan Hall Academy, a SSG-recognized CET Centre, in cooperation with Red Dot Ventures, a technology incubator, officially launches the "Lithan EdTech Accelerator" programme. The Lithan EdTech Accelerator programme aims to fast-track the development of education technology ("EdTech") startups in Singapore.
Opportunities are fast appearing in the EdTech space. In 2014, global investments made to learning technology companies reached over $2.34 billion, the highest ever in the history of the learning technology industry.
In Asia, EdTech is greatly underserved but is now starting to receive significant investor attention. Asia will account for 23% of the self-paced e-learning market (estimated at $53 billion revenues worldwide) by 2018 and eight of the world's top ten fastest growing e-learning markets are Vietnam, China, Thailand, Malaysia, Indonesia, Myanmar, Nepal and Pakistan.
The conditions are ripe for education technology adoption in Asia. With rising mobile penetration rates and mobile-first approach to technology in many developing nations, coupled with rising per capita expenditure in education, EdTech has enormous upside potential in this education-obsessed region.
"Lithan is at the forefront in developing disruptive innovations in education through the adoption of blended learning pedagogy and advanced learning technology to deliver relevant and affordable education." said Mr. Leslie Loh, chairman of Lithan Hall Academy & founder of Red Dot Ventures. "We are gathering together enterprising individuals with whom we can share our capabilities to create and to deliver even more disruptive innovations in the education space."
The Lithan EdTech Accelerator programme aims to transform traditional educators into agile edupreneurs that can take on diverse roles beyond just teaching to encompass other roles such as content development, training, mentorship and even consulting. Those with EdTech ideas and business models with greater growth potentials can be nurtured towards becoming bigger enterprises.
There are 2 phases in the Lithan EdTech Accelerator programme. The first is the ideation phase done by attending the 6-week Edupreneurship bootcamp conducted by Lithan Hall Academy. EdTech candidates at the bootcamp will get a chance to plan and develop their EdTech business models and get it validated. EdTech ideas that pass the validation process will be formally accepted into the second phase acceleration programme where they can leverage on Lithan's applied education training, rooms, equipment, and mentorship to quickly commercialize their ideas.
"We aim to help our selected EdTech startups go from ideation to commercialization within 100 days." Leslie Loh expounds. "At the end of the programme, we can engage the new EdTech startups either as outsource education programme developer, content, resource, and distribution partners or as investee companies to complement and to broaden our education offerings."
Lithan (www.lithan.com) is a recognized CET centre of SSG, an education partner of Victoria University (Australia), and a subsidiary of Lithan Education. Lithan provides just in time skills mastery through competency-based curriculum, cooperative learning, and anywhere, anytime JIT delivery.
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