Edtech is booming in Asia: Mike Michalec

The education technology (edtech) space in Asia is booming, supported by higher penetration of social media, better internet connectivity and a growing pool of emerging middle class that is willing to pay more for a good education, Mike Michalec, co-founder and managing director of the education technology accelerator EdTech Asia, said in an interaction. According to a report by CBInsights , funding for venture capital-backed edtech startups soared 96 per cent year-on-year, during the second quarter 2015. Michalec is positive about the future growth of edtech throughout Asia, particularly Vietnam, and said this region has been witnessing a noticeably higher year-on-year growth in both the number and the quality of education-focused events. Edited excerpts.