The COVID-19 pandemic has hastened digital transformation in education. Schools have implemented distance learning solutions to enable educators and students to come together during school closure, having full confidence in technology and digital resources to deliver better learning outcomes. There is no better time than now to leverage tech tools and bring innovation into the school.
If used effectively, EdTech can make learning more interesting, personalize the education experience, and improve classroom management. The only problem is that the cost of acquiring the necessary hardware and software is pretty expensive. Given that many educational institutions have seen a decrease in their budget, you cannot ignore this aspect. If you would like to set up your own digital education platform, these solutions might help address the issue.
Raise money through crowdfunding
Instead of looking at the costs of the devices and software, you should concentrate your attention on the total cost of ownership, which includes professional development, technical support, and sustainability costs. The world of education is changing and schools should be prepared for it. Paying for technology does not have to come strictly out of the educational institution’s budget. Crowdfunding is the best way to amass money for EdTech purchases.
Small, one-time donations are what you need to get started. Choose the right platform before you start crowdfunding. There are various platforms where you can run campaigns to gather money for your school projects. Most importantly, look into the fees. The platform might charge a percentage of what you make. Explain clearly how the money will be used and why starting an EdTech program is so important. Ask colleagues and parents to share the news on social media. Additionally, include a link to the crowdfunding website in the newsletter.
Apply for an EdTech grant
EdTech grants are given by private, public, and non-profit organizations. There has to be someone willing to help you get the necessary supplies your students need during this time of crisis. Carefully consider the prospective funding sources when searching or money to pay for EdTech resources. This implies checking out the application process and points of contact. Narrowing down your search will help you conquer your efforts.
Regional EdTech grants are a great option because you have the chance to work together with the donor. What is more, the lending criteria might not be so strict. The key to success is writing a winning grant application. Explain the problem and state why it matters. Needless to say, it is necessary to describe the manner in which the funds will be deployed. You can say that you have already been using some educational technology tools with some of your students and witnessed remarkable results. Do not forget to outline your costs and mention the duration of the project.
Land a corporate donation for your school
Here is an idea: if you need big money to fund your EdTech initiative, go to the big guys. The list of companies and startups in the EdTech sector continues to grow day by day, adapting to clients’ needs and strengthening the added value of their services. Perhaps you can convince one of these organizations to make a generous donation for the school. In case you did not already know, corporations take advantage of community relationships to make a name for themselves.
Research the company’s history before reaching out and scheduling a meeting. Look into important aspects such as key achievements, future goals, and recent history. It is important that everyone wins. To be more precise, transform your request into a win-win. Social media is the perfect place to brag about what the business has done to help the school. Post about the donation on Instagram or Twitter. The message will be everywhere and both students and parents will see it.
That is not all, of course
If you are running a private school, you might be able to secure a business loan. You are eligible to apply if all you need is reasonable cash flow. It is not as simple as the auto financing process if you understand what we mean. There are more favorable terms, but to qualify, you must demonstrate a history of strong revenue. It is a good idea though to check out the eligibility criteria for the business loan online. Once the loan application is reviewed and approved, you will receive your much-needed funds in a matter of days. Attach the necessary documents in the application and patiently wait for approval.
The good news is that you do not have to make several trips to the bank. If all documents are in order, the application can be sent online. Figure out how much money you will be needed for the hardware and software and borrow less than the maximum. There is no reason why you should buy more than you can afford. Moreover, if you take out a loan that is too small, you will not be able to meet your financial needs. This is precisely why it is necessary to calculate the debt you are able to handle.
To sum up, investing in EdTech is an upward trend that untied entrepreneurship and education. Education technology in the context of the coronavirus pandemic is no longer the future, but the present. It is important to keep in mind that times are changing and educational institutions have to keep up. This article has analyzed just some of the options in terms of securing funds for EdTech resources. If you can come up with another solution, that is even better.
Finding the money you need to fund the school EdTech program is only the beginning. When implementing such a project, it is necessary to consider each step carefully so as to maximize the value of your investment. Consider examining existing options before designing a shopping list. Most importantly, make sure that all the educators will be able to adapt to the new technology. In this sense, it would be helpful to organize training sessions. They should have access to helpful support when it comes to the new program.
Finally yet importantly, there should be continuity from school to home. Get the parents involved from the very get-go. Tell them everything there is to know about the new software and provide regular feedback regarding their children’s learning. This will help ensure a smooth transition.