Venerable scholars leave the ivy-covered halls of academia to attend power lunches in trendy restaurants. Dressed in Armani suits and accessorized with cell phones, these highly sought educators are being enticed to offer their intellectual capital and institutional affiliations to commercial distance-learning entities. International Data Corporation projected that the number of remote learners is growing by 33 percent annually, and estimated that by 2002, the U.S. market will reach 2.2 million online learners. That leaves about 90 percent of the market untapped. The sheer enrollment numbers are staggering, as are the amounts of money expended in education technology.
Education represents the next great investment sector and growth industry.
For-profit education is not a trend of the '90s. Many venture capitalists and entrepreneurs concentrate on companies that can deliver courses to the postsecondary market, with working adults as a key segment promising extraordinary growth. About 25 percent of Americans now seek continuing education after college. Projections show an increase of 50 percent by 2020. Lifelong learning has become the mantra for industry, education and government.