I believe education is going to change more in the next 30 to 40 years than it has in the last thousand years, and technology is going to help enable those changes.Graham forman, edovate capital
Why did you choose to do seed-stage investing in EdTech in particular?
Graham Forman of Edovate Capital: I’ve had a lot of other investors ask a similar question because cause it’s obviously not easy to build and scale businesses within education. The first answer is, it what I know. My background was as an operator in education technology startups over 15 years.
I built teams, sales teams, marketing teams, business development teams, serving schools and districts with software. And so I learned a lot about what to do, and certainly a lot about what not to do, as well, in terms of approaching schools. And so I tried to stay within my circle of competence there in my investing.
So that’s what I know. And second, if we want to talk a little bit about, some of those challenges, there are certainly a lot of challenges to selling to schools. But one of the reasons I invest is there are many businesses that have been built, as an operator and an investor, I’m very proud that I’ve been involved with. Many that have scaled to serve thousands, even tens of thousands of schools.
And they do tend to take a little longer in education than perhaps in other sectors. But I believe there are no less enduring as a business. And I’d add one more point about this: I think there’s just so much opportunity within education.
Education has lagged, in terms of technological advancements, compared to other industries that we all know. But I think it’s just a matter of time before it modernizes and education technology really begins to help support the rethinking of school.
And so fundamentally, I believe education is going to change more in the next 30 to 40 years than it has in the last thousand years, and technology is going to help enable those changes. I really want to be a part of that over my career.