Trends in Edtech in Latin America and the Caribbean

Latin America and the Caribbean receive funding but must allocate resources more systematically. Strategically implementing funds bring out results in regions that require the most growth.

FREMONT, CA: Funding is increasing in the education sector in Latin America and the Caribbean. One-thousand, five hundred companies are catering to the demands of students and institutions, and there has been 6 times increase in investments. A recent study found that investments are allocated largely to training workers and 26 percent to primary and secondary education. Early childhood schooling received only 6 percent.

The allocation of funds shows that adequate funding and investments are present, but officials need to allocate funds to the right sectors keeping equity in mind. Funds are misallocated largely towards training, and sectors like primary education need more.

The socioeconomic features considered of each region can improve the allocation of resources.

Central America: increasing accessibility: The economies of Central American countries pivot on agriculture, banking, and tourism. Governments are increasing the accessibility of education.

Andean Group: focus on rural areas: Investments need to be directed towards rural areas to improve infrastructure and accessibility to education. Resources are allocated to STEM education and robotics, but 53 percent of funds are directed toward training and retraining.

In Peru, secondary and primary education comprises 30 percent of almost 45 edtech companies focusing on early childhood. Twenty-eight percent focus on higher education, and 42 percent on the workforce. Peru is an emerging ecosystem where half the edtech companies formed less than five years ago.

Caribbean: The Caribbean has 43 million inhabitants. Maintaining a stable internet connection is an issue across its 7,000 islands.

Areas comprising Latin America and the Caribbean have vastly different strengths and needs when it comes to the efficient allocation of resources. Some of the solutions are:

Personalizing: Latin America presents challenges to education that need to be tackled, keeping its unique characteristics in mind. Solutions need to suit local conditions entirely. Catering to the market only leaves those who cannot access education due to socioeconomic setbacks.

Primary and secondary education: Early childhood, primary and secondary education are neglected. The workforce attracts most of the funds. Primary and secondary education is consistently neglected.

Big Data: Big data provides opportunities for teacher training. Funding is allocated to school management and administration, but more needs to be allocated to teachers. Big data and Artificial Intelligence (AI) can address learning problems.