PHILADELPHIA (AP) — A movement is underway to make it easier for entrepreneurs to navigate the lucrative and sometimes-tricky education market and introduce new technology and products into classrooms.An educator at the University of Pennsylvania wants to create one of the nation's only business incubators dedicated to education entrepreneurs. The U.S. Department of Education is also getting into the act with a $650 million fund to boost education innovation.
"Here's this (market) that is huge, that is really important, that needs innovation, and there's just nothing out there to sort of foster it," said Doug Lynch, vice dean of Penn's Graduate School of Education. "Let's create a Silicon Valley around education."
K-12 schools and degree-granting institutions spend more than $1 trillion on education annually, federal statistics show. That represents immense potential for entrepreneurs — if they can resist the lure of more established tech firms and trendier ventures like social networks.
There are other roadblocks.
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