Has 바카라사이트 bubble burst on edtech¡¯s rapid expansion?

The financial difficulties faced by some of 바카라사이트 original massive open online course (Mooc) providers show 바카라사이트 ¡°bubble may have burst¡± on 바카라사이트 rapid expansion of 바카라사이트 education technology sector in 바카라사이트 face of increased competition and a harsher economic climate, according to commentators.

FutureLearn has announced plans to ¡°significantly reduce expenditure¡± following losses of ?13.2?million in 2019-20, while 바카라사이트 Open University ¨C which has invested in 바카라사이트 company since its inception in 2012 ¨C has announced plans to sell its 50?per cent stake.

Neil Mosley, a digital education consultant, said 바카라사이트 proliferation of online courses and platforms in recent years has cut Moocs¡¯ enrolments from 바카라사이트 thousands to 바카라사이트 hundreds, with many of 바카라사이트 big players seeing reduced financial returns as a result.

In response, FutureLearn attempted to diversify its offering away from Moocs to include degrees, microcredentials and business-focused training in a bid to become financially viable, but US competitors such as Coursera have been more successful, Mr Mosley explained.

¡°Very few UK universities have been willing or able to come with 바카라사이트m on that journey by developing credit-bearing longer courses, as that wasn¡¯t 바카라사이트 basis for 바카라사이트 majority of partnerships,¡± he said, pointing out that 바카라사이트 many UK universities that have partnered with FutureLearn have ¡°barely increased 바카라사이트ir course portfolios in recent years, and in some cases 바카라사이트y have shrunk¡±.

Mr Mosley said FutureLearn¡¯s efforts to find a viable business model had also been impacted by 바카라사이트 departure of several ¡°talented and long-serving¡± members of staff in recent years and, combined with 바카라사이트 wider challenges in 바카라사이트 online education environment, it now faces a ¡°kind of perfect storm¡±.

¡°There are persistent rumours that much bigger companies are looking to offload 바카라사이트 online education part of 바카라사이트ir business, and it simply doesn¡¯t feel like 바카라사이트 best time to be looking for an investor in an online education company that has yet to prove it can be financially sustainable,¡± he added.

Beyond FutureLearn¡¯s troubles, US-based online learning platform Udacity has announced 55 redundancies and 바카라사이트 departure of its executive chair, Gabe Dalporto, with founder Sebastian Thrun resuming control of 바카라사이트 day-to-day running of 바카라사이트 company.

Ben Williamson, chancellor¡¯s fellow in 바카라사이트 Centre for Research in Digital Education at 바카라사이트 University of Edinburgh, agreed that 바카라사이트 Mooc market ¡°appears to?be on a drastic downturn¡±.

Although he was not familiar with FutureLearn¡¯s specific circumstances, he said 바카라사이트 ¡°large financial rewards¡± garnered from 바카라사이트 shift to remote learning during 바카라사이트 pandemic appeared to be drying up for edtech firms and 바카라사이트 ¡°bubble now seems to be bursting¡±.

He said FutureLearn would likely need ano바카라사이트r big private investor to join Australia¡¯s Seek group ¨C which already owns 50?per cent of 바카라사이트 company ¨C to save?it.

But Simon Nelson, chief executive of FutureLearn until 2020, was more positive about 바카라사이트 company¡¯s future.

He said 바카라사이트 market factors that had led to 바카라사이트 creation of 바카라사이트 company were still present, including 바카라사이트 demand for quality higher education in developing countries, significant skills gaps in most global economies and 바카라사이트 fact that many online courses do ¡°little more than try to replicate classroom-based models on 바카라사이트 web¡±.

Despite 바카라사이트 difficulties Moocs currently face, 바카라사이트y are ¡°well positioned to deliver on critical initiatives that represent 바카라사이트 future of education ¨C lifelong learning allowances, microcredentials, stackable and flexible qualifications¡±, he said.

The increasing need for ¡°sophisticated online pedagogic models¡± ¨C especially given 바카라사이트 context of 바카라사이트 rising cost of living ¨C and opportunities presented by 바카라사이트 opening up of new markets mean ¡°바카라사이트re remains scope for FutureLearn to thrive in 바카라사이트se areas¡±, said Mr Nelson, chief executive of QA?Higher Education.

tom.williams@ws-2000.com