Tuition providers have traditionally built a name for themselves as a one-stop centre for intensive after-school learning, often conducting large classes for each of the 10-odd academic subjects taught in schools.

However, is this still the best way for tuition centres to operate, and more importantly, is this model still keeping parents happy?

As a father myself, I realised very early on that parental expectations for how education is delivered are constantly evolving. Parents, myself included, have become some of the most vocal advocates for supplementary lessons that can upskill their children in ways that school classrooms cannot, rather than simply reinforcing the existing syllabus.

The quality of education provided by tuition centres is also often expected to surpass that of schools so that children glean and retain information more effectively.

Having developed education technology services for five years, I strongly believe this is an opportunity waiting to be seized by tuition providers. Evolving alongside parents and students ensures that tuition centres remain a pivotal part of an ever-changing educational landscape.

Bridging the disconnect between students and educators

If anything, the pandemic-induced shift to digital learning in the last two years has taught us that students thrive when interacting with their peers and teachers in person. While virtual classes and online sessions have made learning more mobile and accessible, the distance and nature of the medium have exacerbated the disconnect between students and teachers.

Also Read: Singapore has the world’s first industry-endorsed sales education programme and here’s what it does

Issues such as distractions from other sources, lack of immediate feedback from educators, and social isolation from their peers are some of the common factors contributing to the disconnect.

Ironically, a key weakness of online earning models is shared by both school and tuition classrooms: teaching far too many students simultaneously. Whether through little boxes on a screen or in a packed room full of children, it is not uncommon for classes to have north of 40 or 50 students, manned by a single teacher.

The debate here, then, is no longer on if virtual learning is superior to the traditional classroom but rather on how we can circumvent this disconnect afflicting both. The answer: personalised learning in smaller, face-to-face groups.

Through this model, teachers will only be handling a few students at any given time. Fewer students mean teachers could give greater attention to each child and tailor lesson plans to their individual needs earlier, leading to more focused and conducive learning.

Besides fostering an environment of greater communication between teachers and students, these smaller groups also allow teachers to supervise the classroom more effectively, which can be key in maximising tuition classes where each session is only an hour or two long.

Embracing soft skills, arts, and extracurricular learning

Through the replacement of UPSR with Pentaksiran Bilik Darjah (school-based assessments) and the abolishment of the PT3 exams, it is clear that the Malaysian education system has begun steering away from the conventionally ironclad emphasis on exams.

Rather than focusing solely on their ability to memorise information, students can instead put to use a wider variety of skills, from critical thinking and communication to sports and the arts.

As demand for a more holistic, “quality-over-quantity” education continues to rise, this is a prime opportunity for tuition providers to expand their classes beyond the standard academic subjects.

For instance, lessons in music, public speaking, art, or philosophy, while not directly used in an academic sense, will give students an edge through naturally honing their critical thinking, presentation skills, and artistic mastery, among others.

Although reworking the existing business model and onboarding specialised teachers with the right expertise may be an extensive endeavour, when done right, tuition centres can fill a niche role in nurturing more well-rounded students.

Also Read: Will hybrid schooling break walls for the next generation?

By helping to hone skills and talents on top of academic potential, tuition teachers become mentors that prepare children for more varied opportunities and avenues in the future.

Supplementing tuition classes with digital solutions

While offline tuition classes are where a large part of the magic happens with vital student-teacher interactions, the online infrastructures that have been carefully built to weather the pandemic still play a key part in a holistic learning strategy.

Rather than choosing between them and having one replace the other, online learning and digital solutions can and should complement offline classes to maximise efficiency and results.

A dual-learning management system, when implemented properly, will not only help students learn more efficiently but also help teachers streamline their syllabi. Students who have missed crucial classes can easily log into a portal or intranet to revisit a topic or even refer to online notes to conduct their own revision before an upcoming exam.

Not only that, teachers can easily track the assignment progress and performance of each student and effectively tackle their individual weaknesses.

Building a social media presence can also be greatly beneficial for tuition providers. Having a Facebook or Instagram profile enables centres to be more easily accessible to the tech-native students of today while also bringing together a community of like-minded parents.

With the abundance of features made available for page owners and managers, such as polls and status updates, educators can always use them to facilitate discussions and make the learning process more interactive.

All in all, like any other industry that has been around for a long time, tuition centres must be proactive in embracing and initiating change to remain competitive. As teachers are the catalysts of success for the trailblazers and trendsetters of tomorrow, it is only fitting that we, as educators, also stay ahead of trends in education.

There is a need to constantly diversify and approach education: it ensures our children, who cycle between school, tuition, and home, grow up as well-rounded individuals while cementing the key part that tuition providers play in fostering that holistic environment in the education sector as a whole.

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The sharing economy has helped millions of people worldwide with new income opportunities, especially in low to medium-HDI (Human Development Index) countries, where resources are not easily accessible and affordable to everyone.

It has become clear that these technologies also exponentially accelerate the rate of digital exclusion for unskilled, illiterate, and bottom-income earners.

Rise of sharing economy in Pakistan

Pakistan has fully embraced the route of the sharing economy, with a population of 220 million and a GDP per capita (US$1555) lower than India and Bangladesh. The country also faces the issue of unemployment of about 4.34 per cent, for which 64 per cent are younger than 30 years, and 92 million are illiterate. So, people who can’t find employment now have the opportunity of a flexible and honourable way of earning any additional income.

According to the research made by the NTU Business School. The ride-sharing economy in Pakistan has enabled more women to travel by themselves, as it is frowned upon, unsafe or unusual for them to do on their own.

Apps like Careem, InDriver, and Bykea are now the most prominent players in the ride-sharing economy, and they have set up the ground for catalysing social inclusion and mobility among many disadvantaged or excluded pockets of the population.

But on the other hand, 92 million people in Pakistan can’t read or write. And have difficulties interacting with the apps as they can’t type in English or Urdu.

I met with Muneeb Maayr, Founder of Bykea which is a homegrown ride-sharing startup. He mentioned how Bykea cares about building features and tackling use cases that the global competitors will not.

For example, the app is available in Urdu and enables voice notes and cues on pick-up locations to facilitate a smoother interaction between drivers and customers. Making the app more inclusive to a bigger user base.

Bykea only operates in Lahore, Karachi, and Islamabad, but only 37.2 per cent of the population lives in Urban areas. Pakistan has a low HDI of 0.544, making it very challenging for growing tech startups and having positive unit economics, as a high percentage of the population in low HDI countries remains unbanked and illiterate.

Also Read: How the app sharing economy is keeping up with the current trends

However, Bykea unit economics remain positive when subtracting the driver’s incentives/bonuses plus marketing from their total revenue. Yet, they expect to build enhanced product features to increase organic revenue growth. But to build killer features, they will require a deeper understanding of their user base and a more intuitive and easier-to-use interface.

Now, considering the current risk-off environment in capital markets. VC’s investments are fleeing to more conservative allocations for which only startups with solid and positive unit economics will get funded for further rounds. Frontier markets would be highly affected in this environment as less high-level talent will be retained, yielding a lower rate of innovation and experimentation.

Yet, while caution is widespread, some bold investors see opportunities in tech, green businesses, and impact funding. A January report from Silicon Valley Bank found that 79 per cent of family offices were making venture capital investments with impact or ESG strategies in place.

Rich individuals now see potential in impact investments. For example, Wall Street investment company KKR has raised a second global impact fund totalling US$1.3 billion.

Final thoughts

There is an open opportunity for startups to integrate ESG into their business strategy from the beginning before even achieving product market fit. And thinking about what KPIs around impact and social development could be extracted from their user bases will be incredibly important for startups in frontier markets, as survival in the current market will require a more comprehensive story of social inclusion, ways of getting there, and real metrics and proving it.

In conclusion, should the ride-sharing apps and newcomers in frontier markets position themselves primarily as ESG-focused organisation?

The work of tech startups, especially in these markets, requires much development on the infrastructural and educational side. A holistic approach is a must if these startups are to survive in the long term.

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In Indonesia, the mortgage to GDP ratio is below 3 per cent, compared to India’s 11 per cent and the US’s 50 per cent. This means a significant portion of the archipelago’s population gets cut from one of the most important purchases of their lives: a home.

When Ilya Kravtsov, credited with building the NFC-based guest management startup PouchNATION from scratch, sensed an opportunity, he researched further. He was convinced that there was an enormous opportunity as the sector remained largely untapped.

“As per a government estimate, the housing backlog is 12.7 million units in Indonesia,” Kravtsov tells e27. “Considering the strong demand (and the growing backlog) and future growth in mortgage penetration, we estimate that there is a chance to build not one but several unicorns in the space.”

Intending to make the most of this opportunity, Kravtsov launched a digital mortgage platform Ringkas with Leroy Pinto, Yoko Simon, and Puguh Widyoko in 2021. While Kravtsov previously founded PouchNATION, Pinto worked for Google and Amazon, Simon held senior engineering roles at Dell, and Widyoko handled leadership roles at large financial institutions.

Ringkas (‘concise’, ‘brief’ and ‘shortcut’ in English) aims to simplify Indonesia’s complicated mortgage application process by providing easy-to-use tools for agents, property developers, customers and banks.

Also Read: Most Singaporeans pay too much for their mortgage. Here’s how innovation can fix that

“Our goal is to provide tools for all stakeholders in the industry to facilitate the mortgage application process and make it faster, more transparent and efficient,” Kravtsov elaborates.

Traditionally, a customer looking to submit a mortgage application with a bank needs to go through multiple steps involving a lot of paperwork, resulting in a lengthy and manual process.

However, with Ringkas, a customer can fill in just one application form digitally and submit it directly to as many banks as she wants. The banks receive the application digitally and incorporate all the customer and asset information, making it easy and quick for them to underwrite. Ringkas then intelligently pre-screens customers and matches them to the target bank based on their risk profile.

For property developers and agents, Ringkas allow them to focus more on their core business (of selling) and less on assisting customers with paperwork and worrying about the high rejection rates from the banks (which, in several cases, could reach up to 40 per cent).

The Jakarta-headquartered startup charges a commission on loan origination services from the banks, whereas property developers/agents pay for the services Ringkas renders.

The company focuses mainly on Indonesia but plans to expand to other regional markets when opportunities knock. To date, Ringkas claims to have secured several billion USD in the supply of houses (in 34 cities across Indonesia) and is currently working with some of the largest banks in the country, including Mandiri, BSI, OCBC, Danamon, Permata, and UOB.

Kravtsov reveals that while there are no established competitors yet, a few early-stage companies are trying to solve a similar problem. However, many of these players focus on the asset-heavy rent-to-own model. “On the other hand, Ringkas focuses on an asset-light business, which is more scalable and aligned with our vision to generate an impact for the masses.”

He anticipates some rejections in the early days as many people tend to fall back on pen and paper. However, as the stakeholders realise the benefits Ringkas brings, the adoption will gradually grow.

In May this year, Ringkas raised about US$2.5 million in a pre-seed funding round from investors, including 500 Global, Iterative Capital, Creative Gorilla Capital, Teja Ventures, and Init-6. As the startup receives more interest from VCs, it will look for more funding in the future.

Kravtsov further shares that his experience building PouchNATION, backed by Traveloka and SPH Ventures, from zero has helped him a lot in the new venture. “At PouchNATION, we simplified the complicated process of paying at large-scale events/venues, making it fast and efficient. At Ringkas, we do a similar thing but in a different industry. Our ambition for Ringkas is also the same: to become the leading brand people think of when considering house financing,” Kravtsov wraps up.

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Jakarta-based digital signature and identity company Privy has secured US$48 million in a Series C funding round led by KKR.

Existing investors MDI Ventures, GGV Capital, Telkomsel Mitra Inovasi, and new investor Singtel Innov8 also participated.

Privy will use the capital to support the development of its new consumer and enterprise products. The company also intends to expand into overseas markets to accelerate growth further.

A year ago, Privy announced a US$17.5 million Series B funding round led by GGV Capital.

Also Read: PrivyID is Indonesia’s answer to DocuSign, and it just raised pre-Series A funding

Founded in 2016, Privy provides trusted digital identities and legally binding digital signatures. The company offers a wide range of services, including digital identity, digital signature, digital verification, and document management products and services in various sectors, including financial services, healthcare, and education.

In 2018, Privy became the first non-government institution to be licensed as a Certificate Authority (CA) by Indonesia’s Ministry of Communication and Information Technology. In 2019, it became the first electronic Know-Your-Customer service provider registered under Indonesia’s Financial Services Authority.

Today, Privy has more than 30 million verified users and 1,800 enterprise consumers for its digital signature, digital verification, and subscription products, and it processes more than 40 million digital signatures per year.

Louis Casey, KKR’s growth technology lead in Southeast Asia, said: “Privy has built an industry-leading platform that combines prime features, a user-friendly design, and secure and robust infrastructure. We look to leverage KKR’s global network and operational expertise to take Privy to its next level of growth and extend its leadership in digital trust for individuals and enterprises in Indonesia and beyond.”

Indonesia’s digital economy is projected to reach US$146 billion by 2025 and to become Southeast Asia’s largest digital economy, valued at more than US$300 billion by 2030.

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Rootopia, a fintech startup connecting students with angel investors in Vietnam, has secured US$1 million in a pre-seed round from Genesia Ventures, ThinkZone Venture, and BK Fund.

With the funding, Rootopia plans to grow its early user base to reach product-market fit. It will also improve its technology platform to serve more students to uplift their future through better education.

Rootopia was founded in July 2021 by Nguyen Xuan Truong and Tran Quang Khanh. Truong was previously the CEO of leading local on-demand delivery platform Ahamove. Khanh is a geek, who co-founded and held CTO’s role at GEEK Up.

Rootopia is a fintech platform helping students to address their tuition and fees needs. It helps connect angel investors with parents who need funds for their children’s school fees.

Each case goes through strict appraisal to ensure that the loan will be granted to the right person and that the borrower can repay it. Since loaned tuition fees are paid directly to schools, the platform ensures that the money will be put to good use.

Also Read: The inside story: How ThinkZone Ventures created a ‘pureblood’ US$60M Fund II by tapping into local resources

Since its launch more than a year ago, the platform has connected many students in over 100 schools and educational centres in ten provinces and cities in Vietnam with angel investors.

Vietnam is a country where families spend almost half of their income on education. In terms of school status, universities tend to lean towards increasing autonomy and reducing dependence on the state budget, resulting in tuition fees that can increase up to 10 per cent per year. Rootopia senses an enormous opportunity here.

Genesia Ventures is a Japanese VC firm investing in seed and early-stage startups. It has invested in ten startups in Vietnam, such as Homedy, Luxstay, Kamereo, Manabie, eDoctor, BuyMed, Vietcetera, Fundiin, Selly, MVillage.

ThinkZone focuses on pre-seed to Series A tech startups from diverse verticals, with investment sizes up to US$3 million. Its portfolio companies include EMDDI, eJoy, GIMO, Edupia, and Fundiin.

BK Fund was established by businesses and individuals who are Bach Khoa (HUST) alumni to invest and contribute capital. It invests, incubates and commercialises technology in universities, investing and incubating staff, students and alums. Some startups funded by the BK Fund are eJoy English and Gimo.

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