UPDATED: May 5, 2019 at 3:39 a.m.

Pearson Education, one of the largest education companies in the world, has vowed to invest $50 million to fund the next-generation of educational technology companies.

The ultimate goal of the education technology — EdTech — industry is to enhance and improve education by finding ways that technology can boost learning. Pearson Ventures, though a money-making operation, represents a fantastic initiative by a major education company to accelerate the growth of the EdTech industry and enhance classroom learning in the digital age.

“The use of technology has fundamentally changed the nature of society and the way we interact with society,” said Peter Adamy, an associate professor of elementary education at the University of Rhode Island. “In terms of preparing students for their lives, it is impossible to avoid technology.”

Pearson Ventures, the company’s corporate fund, will look to invest in early-stage educational technology startups focused on assessment and credentialing platforms, lifelong learning, augmented reality and artificial intelligence.

Eva Suppa | Contributing Digital Designer

The corporate fund will participate in Series A and B financing rounds primarily as a co-investor alongside other experienced institutional investors and will look to finance up to five companies per year for a period of three years. Pearson will also offer additional resources in the form of their in-house experts in content, product design, business development and market expansion.

Students and teachers all across the country are already embracing the educational opportunities that the EdTech industry is bringing to the classrooms.

Technology allows educators to enhance learning in a variety of ways. Educators can create tailored content through accessible online platforms. They can use educational games to create more engaging learning experiences, and they can integrate robotics and coding programs to better prepare students for today’s job market. Educators can also use augmented and virtual reality to dive into topics at a much deeper level than traditional learning materials would allow.

The benefits of integrating education technology into classrooms are undeniable. But, it is important to recognize and remain cautious of the fact that most of the EdTech technology is being developed by corporations and private entities that ultimately want to exploit a market and profit off of education.

Anna Henderson | Digital Design Editor

“The motivations of private entities can create problematic situations,” said Adamy. “But, in pursuit of profit, they are constantly looking for efficiency. Whether we like it or not, our K-12 system is not an efficient system. It can be a positive force for creating innovation in education, and it seems to me like what they’re doing is worthwhile. It sounds like they’re providing venture capital for startups that are providing education innovation.”

Even though private companies like Pearson are money-making institutions first, initiatives such as Pearson Ventures support the start-ups that develop these technologies, and by doing so, directly spur innovation and improve education.

CLARIFICATION: In a previous version of this post, it said Pearson Education was vowing to donate $50 million to education technology companies. Pearson Education plans to invest that money to fund education technology companies.

Santiago Hernandez is a sophomore finance major. His column runs bi-weekly. He can be reached at [email protected].

Published on April 23, 2019 at 9:26 pm