The Southeast Asia EdTech 50 is HolonIQ's annual list of the most promising EdTech startups from the region.
The Southeast Asia EdTech 50 is focused on identifying fast growing and innovative learning, teaching and up-skilling startups from across Southeast Asia. Powered by data and insights from the HolonIQ Impact Intelligence Platform together with qualitative assessments by HolonIQ’s Intelligence Unit, and local market experts in each region, organizations are evaluated and scored based on our eligibility and assessment criteria.
The Southeast Asia EdTech 50 is aligned to the Global Learning Landscape, an Open-Source Taxonomy that maps the education and talent market
Exhibit 2
Tutoring and Test Prep and STEAM solutions, predominantly in the K12 market take a combined 40% of share, with Management Systems, particularly education financing, also strong. Education and Training in the workforce segment also sees a focus on micro learning and mentoring (FutureLab, Gnowbe, ArcLab) and connecting talent with their interest areas (Jay Jay, Skilledin Green).
Exhibit 3
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Vietnam’s growth in EdTech continues to climb, edging out Indonesia as it’s mature ecosystem leaves less room for new players.
This year, Vietnam steals the show in terms of representation, with startups from four key categories - Language Learning, Tutoring, Bootcamps/STEAM and Learning Environments.
Over the last five years, Indonesia’s education system has embedded EdTech across the board, providing growth for established EdTechs who dominate the market, however this leaves little room for early stage startups to gain a market foothold. Singapore remains the regional hub as incubator and launch pad into the region.
Exhibit 4
Direct-to-Consumer models dominate, but B2B offerings edge up with employers seeking workforce development solutions.
Almost two thirds of this year’s cohort operate a direct-to-consumer model, In K-12 solutions support language learning, maths learning, and tutoring/test prep. Similarly in the Workforce sector, language learning is strong, along with upskilling bootcamps like JayJay (Indonesia).
As employers seek solutions ot upskill their workforce, we see B2B solutions such as ArcLab and Gnowbe in the B2B category, along with startups such as Skilledin Green which offers help for people wanting to build careers in sustainability.
Exhibit 5
Early-stage EdTech’s plummet in this year’s list, with incumbents taking share and funding scarce.
This year’s list sees a much more mature cohort with only 13% of startups founded less than 3 years ago, as startups that have already reached scale take further market share and funding remains very scarce. Mature startups include Ruangguru (Indonesia), Emeritus, ClassPoint, ErudiFi, Flying Cape (Singapore) and CoderSchool, MindX (Vietnam).
Exhibit 6
Track the 2024 Cohort
HolonIQ customers can track the data for the most promising EdTech startups in the region on the HolonIQ Intelligence Platform. Look for the 2024 Southeast Asia EdTech 50 list and double click into the data behind the charts. Request a Demo if you are not a customer and would like to learn more.
Deep Dive the List
Customers can deep dive the open-source list on the platform. Request a demo to learn more.
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