After completing UCL EDUCATE, a world leading EdTech accelerator programme in 2019 to apply evidence-based research on IPSim®, Tacitsims starts a new journey in 2020 with NatWest Entrepreneur Accelerator programme with the main objectives of fundraising and build strategic partnerships to develop an improved product with Artificial Intelligence (AI), e-learning module and automated markings, amongst other interesting features to relaunch a new and more scalable version of its EdTech product which will support the company in its mission to democratise the knowledge of intellectual property (IP) worldwide.
Roberto Di Nuzzo, MD of Tacitsims states: “Given the current Covid19 challenge in education, there wasn’t a better time to invest in EdTech. Our plans to develop a product with AI powered solo-player mode, IP e-learning modules and automated markings, which combined with our current IP simulation game, will create a comprehensive digital product that through appropriate online learning infrastructure can be accessed anytime, anywhere”.
According to Barclays Investment Banking insight report on EdTech published on 08-Apr-2020, Education Technology: Out with the old school1: “The unprecedented events of recent weeks have put education technology in the spotlight like never before. Educational institutions have closed in 107 countries, affecting more than 860 million students and counting. The EdTech sector has leapt to a prominent position, making it of particular interest to investors as it reshapes the how we learn in real time… Increasingly data-driven, EdTech products are applying personalisation and adaptive learning, video content, gamification and immersion technology to change the way people learn”
The report follows up with education intelligence provider, HolonIQ, and its promising EdTech market estimates: “less than 3% of total global education expenditure is currently digital, which suggests significant potential for transformation in a market expected to reach $10tn by 2030, up from $6tn in 2018… EdTech expenditure is estimated to grow more than 12% every year to $342bn by 2025. While still less than 5% of overall education expenditure, this growth is expected to coincide with the increased use of technology in existing and new teaching methods”.
Furthermore, it’s not just the growth in market size that’s appealing investors, but also its long-term benefit aspect, as the report clearly highlights: “The technology behind EdTech is constantly evolving and becoming more sophisticated, and the potential implications of digital disruption to global education are far-reaching. EdTech subsequently offers a multi-year investment opportunity beyond the COVID-19 pandemic, driven by a broader socio-economic need, with the potential to scale profitability as the demand for skills to power the fourth industrial revolution continues to grow.”
To explore investment opportunities and/or strategic partnerships with an established business run by an experienced, passionate and knowledgeable team either to improve IPSim or develop new EdTech products, please do contact us via email@example.com !
About Tacticims: Tacit Simulations is a growing software development company that creates business and educational products and services since 2014.
We build innovative teaching solutions that engage and challenge learners, in virtual environments use cutting edge technology. Our products and services enable realistic, interactive and engaging learning experiences.
Our products and services have been tested in high profile further and higher educational institutions in the UK and Asia. Our aim is to make the high quality simulated educational experiences we build, available to everyone around the world.
IPSim is our first educational software application available on both Windows and MacOS
© Tacit Simulations Ltd. – MD – Roberto Di Nuzzo