A new body aimed at promoting the education technology sector, Edtech UK, launches in London today.
The organisation, along with London & Partners, estimates that the global education technology industry is worth £45bn, and could reach £129bn by 2020. The sector is one of the fastest growing tech markets in the UK, with more than 1,000 startups across the country, and over 200 in London.
According to government statistics, UK schools spend more than £900m a year on education technology, while UK education exports total £17.5bn a year.
Mayor of London Boris Johnson said: “London has all the ingredients to become the edtech capital of the world – a thriving technology sector, the city is globally recognised for education excellence and a leading financial centre.
“Londoners are also a highly diverse bunch from all over the world and are buzzing with ideas and a desire to learn. I have no doubt that Edtech UK will help drive forward this growing sector in the capital.”
Ian Fordham, chief executive of Edtech UK, added that the body “will be a proactive organisation building and accelerating a vibrant education and learning technology sector and leading new developments with our founding partners.
“It will also be a front door to government, educators, companies and investors from Britain and globally.”