News Roundup – 5/3

Our weekly roundup of education technology, workforce technology, and venture capital news.

Learning Loss Was a Problem Even Before the Pandemic – The article delves into the implications of the Every Student Succeeds Act (ESSA) on education in the US, noting the impact that the transition from output-based policies, which rewarded teachers based on performance, to input-based policies, which focus on factors like experience and degrees. This shift, as indicated by research from Stanford economists, has had a modest detrimental impact on student learning. There have been sustained efforts to enhance educational outcomes, especially in the aftermath of the COVID-19 pandemic, and the article emphasizes the need for a national consensus on the importance of school quality and effective education policies.

Skills gap is a key challenge despite demand for GenAI skills among business leaders – Highlighting the increasing adoption of Generative Artificial Intelligence (GenAI) technologies among business leaders, this article focuses on a report that reveals that a majority agree that GenAI skills will become essential for most job roles. Key GenAI skills identified include data analytics, digital marketing, data modeling, content creation, and computational thinking. While business leaders acknowledge the potential of GenAI to create new job roles and redefine existing ones, challenges such as skills gaps, digital fluency, and transitioning workers to higher-value roles are cited as obstacles to integration. The report emphasizes the importance of training employees in GenAI skills, alongside critical core skills like digital fluency, creative thinking, and problem-solving, to prepare for a GenAI-empowered workplace.

EdTech Companies Revolutionizes Global Education with Flexible and Tailored Learning Solutions – An analysis of the recent inaugural list from TIME magazine of the world’s top edtech companies, with one-third of the top 150 companies based in the U.S., showcasing the country’s response to educational needs. The U.S. involvement in the edtech sector reflects a significant shift towards digital and flexible learning formats, emphasizing inclusivity and accessibility in education. These companies are at the forefront of innovative solutions, blending asynchronous and synchronous methods to cater to diverse student requirements. Their impact extends globally, setting benchmarks for educational innovation and offering potential career advancements for learners worldwide.

Learn more about three of our portfolio companies that made this prestigious list: Mursion, Noodle, and Orijin.

How To Catch A Unicorn In The Ed Tech Industry – There are numerous challenges faced by educational technology companies in reaching “unicorn” status, which is defined as being valued at over $1 billion and earning over $100 million annually. Despite significant financial backing in the past decade, there are only a few EdTech companies that have achieved this status. The reasons include a focus on incremental rather than transformative change, underutilization of data, difficulties in selling to school districts, limited resources for disadvantaged communities, and a lack of philanthropic funding for cutting-edge technologies. This article posits that to overcome these barriers, companies must focus on inclusive product design, directing capital towards diverse founders, and innovative solutions, and foster a supportive ecosystem for visionary founders to drive transformative change in education.

10 Ruminations on ASU+GSV 2024 on Higher Education, EdTech, and People – Tyton Partners made a significant impact at the ASU+GSV conference in San Diego, with a large team engaging with key players in the education sector. The event highlighted discussions on AI’s influence on teaching, the importance of skills transferability, the evolving work-based learning sector, and the continuous development of technology in education. Notable themes included the humanistic aspects of education, institutional affiliations, and reflections on the expanding definition of “online.” The conference served as a valuable platform for cross-sector collaboration and thought-provoking conversations. Dive deeper into the conference highlights and insights in the full article

SHRM’s Skills-First Center of Excellence Launching in 2025 – Exciting news from SHRM and the SHRM Foundation with the upcoming Skills-First Center of Excellence (SFCOE) set to launch in early 2025. The SFCOE aims to shift focus from traditional proxies like college degrees to prioritize candidates’ skills in the hiring process. The SFCOE will offer an AI-based skills advisor, a skills-first resources library, a skills-tech clearinghouse, and a skills-first credential. Building on the Foundation’s Skills-First at Work program, this initiative targets transforming hiring practices for 100,000 employers and 500,000 HR professionals in the next decade. By addressing barriers to skills-first strategies, such as uncertainty and lack of trust, the SFCOE seeks to drive widespread adoption of skills-based hiring, supported by partners like the Charles Koch Foundation and Walmart.

Low-Income And Minority Students Aren’t Filling Out FAFSA—Which Could Mean Fewer Go To College – Data from The National College Attainment Network reveals a significant drop in high school seniors applying for federal financial aid through the FAFSA process, which could potentially lead to fewer students enrolling in college this fall. The new “Better FAFSA” form, has been marred by tech issues and delays, resulting in completion rates plummeting to 32.9% among seniors, 29% lower than the previous academic year. Schools with high minority or low-income populations have been disproportionately affected, with completion rates down 34%. Experts warn of an impending decline in college enrollment, as FAFSA completions are strongly correlated with immediate post-graduation college attendance. The chaotic rollout of the new FAFSA form, coupled with tech challenges and delayed aid eligibility notifications, has exacerbated the situation, prompting some schools to extend decision deadlines.

The FAFSA isn’t the end of the line for those seeking financial assistance to pursue education. Our portfolio companies Climb Credit and Regent Education help students further their education.

#NewsRoundup