Globally, education technology (Edtech) is a rapidly growing sector. According to Precision Report’s EdTech Market Research Report 2024, the global Edtech market size was valued at $115 billion in 2021 and is expected to reach $467 billion by 2027.
Singapore has stood out as one of the most fertile grounds for the sector’s growth. The origins of Singapore’s thriving Edtech sector can be traced back to 2014, when the country’s national government enacted its Smart Nation initiative, which required schools to incorporate innovation and technology in the daily lives of Singaporean families.
According to UNESCO, the challenge for schools was to create meaningful learning experiences that reflected such integration, which meant that highly qualified faculty must constantly be engaged in research and innovation. Otherwise, how can one teach about advancements while experiencing none?
Since the enactment of the Smart Nation initiative, there have been more than 790 Edtech startups launched in Singapore. Today, the government continues to invest heavily in training its future labor pool.
Aside from encouraging life-long learning, the city-state’s government has also rolled out other initiatives to boost the growth of Edtech in Singapore, like an ICT masterplan, infrastructure upgrades, accelerator programs, increased connectivity in schools, and access to learning resources and opportunities for collaborations for schools and startups.
Those looking to start or invest in an Edtech venture will reap many benefits by betting on Singapore.
