The Business of Education | S01E20 | Matthew Tower

Summary

In this conversation, Kyle Wallgren interviews Matthew Tower, founder of ETCH, a company offering information and resources in the EdTech space. They discuss various EdTech topics, including the challenges of raising capital, the impact of policy decisions, the growth of homeschooling, and the importance of life skills education. They also touch on vocational tech and the changing landscape of the oil industry. The conversation provides insights into the current state and future trends of the EdTech market, highlighting three key themes:

1. Raising Capital: The challenges and recommendations for securing funding in the EdTech industry, emphasizing the importance of treating it like a sales process and starting the narrative early.
2. Downfall of a Prominent EdTech Company: The questionable practices and hubris that led to the downfall of a well-known EdTech company.
3. Importance of Networking: The significance of building a network and maintaining regular communication with stakeholders through newsletters and updates.

Takeaways

- Raising money in the EdTech industry can be challenging due to the regulatory and compliance requirements and the long-term impact of policy decisions.
- The growth of homeschooling and alternative schooling options has been accelerated by the COVID-19 pandemic, leading to changes in the traditional education system.
- The vocational tech industry offers opportunities for students to gain valuable work experience and develop practical skills.
- The oil industry is subject to significant fluctuations and policy changes, which can have a profound impact on businesses and individuals working in the industry.
- The EdTech market is constantly evolving, and entrepreneurs need to be intentional and adaptable to succeed in this space. Raising capital in the ed tech space requires treating it like a sales process and building a pipeline of investors.
- Start writing your narrative early and focus on the problem you're solving rather than inflating your achievements.
- The downfall of a prominent EdTech company was attributed to questionable sales tactics, inflated metrics, and lack of executive leadership.
- Networking is crucial for building a successful company, and regular communication through newsletters and updates can help maintain relationships with stakeholders.

Sound Bites

"Edge provides news and information about the EdTech market."
"EdTech is a recipient of policy decisions and has limited ability to affect those decisions."
"One way to grow an EdTech company is to follow policy decisions and tap into mandated markets."
"Get at least three pieces of advice for raising capital"
"Don't inflate what you're doing in your pitch deck"
"Start writing your narrative as early as possible"

Chapters

00:00 Introduction and Setting the Context

04:08 EdTech Fundraising Challenges and Opportunities

09:08 The Impact of Policy Decisions on EdTech Companies

12:49 The Growth of Homeschooling and Alternative Schooling

15:18 The Importance of Vocational Tech and Life Skills Education

24:39 Adapting to the Changing Landscape of the EdTech Market

32:31 The Downfall of a Prominent Ed Tech Company

45:22 The Importance of Networking in Building a Successful Company

About Matt

As the founder and writer of ETCH, Matt aspires to create the premier source of information and community in the EdTech industry. With over a decade of experience in this dynamic field, he has developed a deep understanding of its trends, challenges, and opportunities.

Matt's expertise spans entrepreneurship, venture building, content creation, and social media marketing. He leverages these skills to provide valuable insights, resources, and connections for EdTech professionals and enthusiasts.

Connect with Matt

LinkedIn: [@matttower]
X: [@Mdtower14

Artcle Mentioned: restofworld.org/2021/inside-india-edtech-byjus/