Blog - IDEATE
Tenopy: Sailing through the crisis with ed-tech
While the ongoing COVID-19 pandemic has changed the world in many ways for the worse, it has also pushed individuals and businesses to innovate in order to survive.
IDEA Communication spoke to four such industry players to find out what they’ve done during this crisis to keep their businesses sustainable, and beneficial to their target markets.
In Part 3 of our four-part series on how businesses have been impacted by the pandemic and how they’ve adapted to the new normal, we speak to Soh Chong Kian, CEO of Singapore-based education technology (ed-tech) online teaching platform.
The platform uses in-house algorithms to personalize its online tuition sessions, connecting suitable tutors to each student based on their needs. The firm has developed a proprietary curriculum and technology to ensure high-quality learning that helps to foster independent thinking and subject-specific skills as opposed to rote learning focused on exam scores.
At the same time, Tenopy uses data tracking and analytics to assist tutors in assessing their lessons and customizing their teaching approach to better suit their students.
Home-based learning a windfall in crisis
According to Soh, the company has not suffered any losses during the COVID-19 crisis but instead, has witnessed a 100% increase in active students since March, 100% growth in active subscriptions since the announcement of the circuit breaker period, and 95% retention rate from Term 1 to Term 2 in 2020.
Soh said, “Mandated home-based learning has reshaped schools and the idea of education and hence, has boosted ed-tech demand. The pandemic has made it necessary for all students in Singapore and globally to adopt online learning, which has seen exponential growth since e-learning has become the norm.
“This comes with its natural merits, such as efficiency, interactivity, affordability, and easier accessibility to high-quality teaching resources. This has already been demonstrated in mature markets like China.”
All set for the future
Even as restrictions are gradually lifted, the demand for e-learning and ed-tech is unlikely to wane. Tenopy’s technology allows parents to observe their children’s online lessons, as well as tutors and students to view video replays of lessons. This not only helps tutors review their lessons but also ensures students don’t miss out on anything.
Soh said, “We are going through new round of fund-raising in Q3 so hopefully, with the capital injection, we will be able to ramp up our programmatic and teaching capabilities to keep up with demand.
“Tenopy was started as an online learning platform and we are continuously optimizing our proprietary AI-powered learning capabilities to make as many quality teachers and diversified courses accessible to as many students across geographical and income demographics as possible.”