Educational technology (EdTech) startups all over the world profit from paid subscriptions to their education products. However, Moscow companies prefer one-time payments per unit of content, according to the Moscow Innovation Agency.
Moscow Innovation Agency Director General Alexei Parabuchev commented that one-time fee for EdTech content that are common in Moscow are considered an outdated model in other markets and are hardly used any more. Only 13% of Moscow EdTech startups use paid subscription as their monetization model while in other countries this model is preferred by 34% education companies.
At the same time, the global and Moscow markets for EdTech solutions have similar structures. Half of the Moscow startups offer study programs and courses. The average share of this type of startups in the world is slightly lower (44%). Still, Moscow has half as many EdTech startups offering management solutions than the rest of the world. And the EdTech financial solutions niche in Moscow remains unoccupied.
Alexei Parabuchev predicts that within the next year, the four most popular EdTech areas in Moscow will be content and course development tools, development of online courses for school and university students, development of soft skills and digital skills programs.