But in some countries and some sectors, we see signs that crisis is driving innovation and accelerating trends that were already in motion.
For example, according to HolonIQ, the wider edtech sector has experienced a record six months of investment, with the sector attracting over $4.5 billion of venture capital in the first half of 2020. Looking forward, HolonIQ predicts that $87 billion will be invested in edtech in the 2020s, almost triple that of the previous decade, with exponential growth expected in emerging markets such as India, China and Latin America.
This has coincided with COVID-19 causing a rush to remote learning on university campuses worldwide, with many commentators noting that 2020 has forced institutions to embrace a more digital-driven business model.
Here at BridgeU, we’ve been in conversation with universities since the start of this crisis.
Our university partners have told us all about their efforts to innovate and diversify their enrolment strategies in the face of - sorry, we’re going to use that other oft-repeated phrase - unprecedented disruption.