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October 9th, 2013
Can startups disrupt the slow-moving education market?
Every year, schools spend billions of dollars on supplies and instructional materials and staff, Mind/Shift reports. A lot of that money flows to a few textbook publishers that create content, test-prep, even the tests themselves. Now, entrepreneurs and venture capitalists in Silicon Valley are looking for ways to disrupt this market, revolutionize schools with technological innovation and make some money. “Everybody’s waiting for the Facebook of education to come along,” said Trace Urdan, research analyst with Wells Fargo. He’s been watching the education market for 15 years, working with institutional investors to predict the right bets. “The biggest mistake I see, and have seen for a while in this space, is investors and entrepreneurs thinking things will happen a lot more quickly than they do,” Urdan said…