Deepspatial Inc. (CSE:DSAI) has announced a Memorandum of Understanding (MOU) with a state government of India educational program to improve the quality and access while enabling schools to better prepare students for rewarding career paths.
The company said it will be working closely with the officials of the flagship program under the Ministry of Education to identify key areas of opportunity for improving access to education and ensure students are prepared for higher education.
Throughout the discovery process, Deepspatial said it may provide additional services if deemed suitable and valuable to the underlying outcomes, which may lead to further commercial contracts.
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“Marking our entry into the education sector in India is an important milestone for Deepspatial. More importantly, the socio-economic impact we hope to have on the students, its citizens and the future generations is what excites us most,” said Rahul Kushwah, CEO of Deepspatial, in a statement.
“By bringing our Geospatial AI solutions to the education sector, we’ll be the first company of our nature to do so. Furthermore, the solutions, Deepspatial will be providing are addressing an unmet need in education which on a global scale positions Deepspatial for significant growth, bringing long-term value for our shareholders.”
Deepspatial noted that India’s improved education system is often cited as one of the main contributors to its economic development. While enrolment in higher education has increased steadily over the past decade, there remains a significant challenge with secondary and tertiary education in rural and semi-urban areas.
The global elementary and secondary schools market size is expected to grow from $1343.61 billion in 2021 to $1488.80 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%.
“This represents a vast consumer base and business opportunity in the education sector,” the company said
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