Pearson is planning on investing an additional $50 million in edtech startups from emerging markets through the Pearson Affordable Learning Fund. Originally launched in 2012 with a budget of $15 million the fund has already invested in edtech startups from South Africa, Ghana, India and the Philippines. Half of the startups have a female CEO.
Pearson Affordable Learning Fund aims to support initiatives that have an impact on underserved, low-income learners. Besides investing in startups, the fund also runs edupreneur programs in partnership with Village Capital that aim at helping founders with their business and investability.
“We believe that start-up culture can inject innovation and determination into some of the world’s toughest educational systems.”
states Katelyn Donnelly, managing director of the Pearson Affordable Learning Fund.
Pearson also announced the launch of a new social impact campaign titled Project Literacy. Through the campaign and its partners Pearson aims to accelerate improvements in literacy throughout the developing world.
“The Pearson Affordable Learning Fund has already shown it is possible to address this challenge by making low-cost, high-quality schools and services accessible to parents in the developing world. We are tripling our investment in the Fund because we know that this approach works, and makes a transformative difference to lives across the world.”
states Pearson chief executive John Fallon.
- Pearson makes new investments to improve learning outcomes in developing world | Press Release