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Industry News

Opportunity abounds for educational startups

Education technology startups have already received hundreds of millions in funding this year.

Education technology startups have already received hundreds of millions in funding this year.

Innovation starts with a great idea, and a great idea can be the foundation of a successful startup venture. When your great business idea begins to take hold and show promise, there could be financial backers that want to fund it and see it come to fruition.

If you have an effective solution to a common problem, there's probably a place in the market for you. Currently, the education sector is seeing a lot of action from startups. Education technology represents a big opportunity for entrepreneurs to make an impact, as a recent TechCrunch article reports that during the first quarter of this year, education technology startups have already raised $500 million.

For example, a startup called Clever has secured millions in funding for their software that assists teachers with manual data entry. For teachers, manual data entry can be a painstaking and time consuming process. Clever came up with a software to solve this problem, and as a result, thousands of schools across the country have purchased the software and the company is now quickly growing.

If you have a great business idea, there could be financial backers out there waiting for you. With the right funding, you can dramatically grow and expand your business. Although this may sound like every entrepreneur's dream, before you even think about this step, taking the proper measures to set up your business in its early stages is one of the most important things you can do. Checking for company name availability and researching your options for incorporating your business are good first steps. Determine what type of entity is right for you, and incorporate your business today. An incorporation services company can help answer questions you might have along the way.