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ASU+GSV is a global conference for edtech investors, entrepreneurs and analysts that takes place every year. This week, they gathered at ASU+GSV to discuss the sector's newfound spotlight following the huge jolt from COVID-19. Bullishness was evident beyond the masked excitement at finally meeting Twitter friends in person.
Startup cup winner was a digital-first talent platform that develops interns. It previously didn't have product-market fit. All of my panels were with newly-minted startup unicorns. The conference grew from a small industry meetup to become a larger event for new founders.
The main takeaway of the week was not that edtech is booming, which it certainly is. I felt that, despite polite disagreements, the general consensus at the conference was that the sector being highlighted means it has the buy-in needed to be everywhere.
In other words, edtech can no longer rely solely on itself to achieve its goals. It can work outside of a silo. This feels like the necessary follow-up to sectors 2020.
If a platform offers a fun UX for online instruction but does not consider how it impacts childcare, mental healthcare, and the digital divide, its impact will be limited. Consolidation will not only be the result of unicorns being created, but companies may also start to offer products that consider the human experience.
BetterUp, an online reskilling platform and coaching platform for employees, has already signaled that it is happening. The edtech company revealed that it is expanding its focus on behavioral health through new products.
It is important to think beyond the edtech industry insiders. This allows you to create products that challenge the status quo, and not just reinforce it. Fiveable, a virtual place for high school students to express and study, has made many of its users interns. Although the feedback loop is harsh for high schoolers, it also means that those making decisions aren't adults speaking to adults.
Startups can easily go rogue because there are no training wheels. Remote school could become a normal part of the new pandemic. Companies must be extremely focused and humble about their potential reach. It is important to reflect on what makes a Course Hero different from a Codecademy or a Coursera, and when it makes sense for them to move beyond their lane.
It was a surreal, refreshing week meeting the people behind the ideas and dollars that will shape our future educational landscape. The pandemic's shock brought out the inequalities and the work that still needs to be done. The spotlight will now be part cheerleader and part accountability coach, helping edtech to reflect the way to a better product.
Venture capital is still relevant
The question of whether traditional venture capitalists are able to adapt to the changing landscape is being raised in Silicon Valley as nontraditional investors invest in private startups. Where do you go for competitive advantage and relevance when Tigers eat at your table?
Here's the bottom line: Venture capital is dead according to some. Some people believe it is more complex than that. All agree that the asset class must rethink how it invests capital.
It's not just about dollars and deals.
The company's wealth can be affected by regulatory fabric
A startup's success or failure can be affected by regulations. Plug & Play Ventures Noorjit Saidhu wrote this week that even if regulations are complex, they can help founders navigate the gray areas of innovation.
Here's what you need to know: Regulations are important, but it is ironic that Uber was unable to be iconic due to its failure to comply with regulations in its early days. Disruption can ignore the rules.
Greener alternatives to red tape
Have you ever thought about maps before?
What do you know that no one else talks about? Maps. Maps are a powerful medium for companies and consumers to visually communicate space and relevance. However, it's not easy to spin up a map due to the complexity of maps (from the curvature and use of space)
Here's what you need to know: Felt just released stealth this week and wants maps to be mainstream. Its mapping software has raised $4.5million to date. This is an example of how climate change can give new life to old products.
Climate change-makers
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