One of the biggest trends we will be seeing in the coming years is FamTech. It aims to provide families with the means to improve their lives. Technology can help less-privileged kids get the support they need to succeed in the world of today. There is a lot that can be achieved by families when they use FamTech. So, if you are curious about what FamTech can do for you, you have come to the right place. Here’s everything you need to know about this emerging technology.
What Is FamTech?
In the simplest of words, FamTech is a technology that helps families by providing them a path to well-being and prosperity. Although the term is relatively new, the technology has actually been around for a long time. Many startups are investing their resources in FamTech with the hopes to introduce even better initiatives. From managing finances to hiring teachers to monitoring health, there is a lot that you can expect from the technology.
Factors Contributing to the Introduction of FamTech
There are many reasons why FamTech had to be introduced as mentioned below.
1. Covid-19
Ever since the coronavirus pandemic broke, the adoption of FamTech has only been accelerated. Families have been under significant pressure due to rising costs and a shrinking labor market. This is why they require more support than ever before. It has led to over 130 project founders coming up with unique concepts including BeAKid which allows parents to find enrichment programs like summer programs and afterschool programs in their city. The technology makes it possible for families to perform tasks remotely.
2. Reliance on Technology
Another reason why FamTech is an emerging trend is that millennials rely on technology for just about everything including starting a family. Gone are the days when FemTech and BabyTech were niche markets. Today, both of these markets have grown exponentially, with FemTech marketing expected to cross $1.1B by 2024 according to a report by Frost & Sullivan. As the population of young folks increases, the demand for technology will only increase.
3. Family Matters
A major factor that has contributed to the introduction of FamTech is that family matters to just about everyone. People realized the importance of social connections during the coronavirus pandemic and learn to use technology to maintain all their social connections. This led to many startups and established organizations investing heavily in technology for supporting families.
4. Reduce Inequality
Although 94% of parents are satisfied with student enrichment programs, 57% of parents find such programs to be too expensive according to research conducted by America After 3 PM. In order to reduce inequality and ensure that parents are able to enroll their kids in summer camps and afterschool classes, FamTech had to be introduced. One of the tech startups that is making a huge difference when it comes to combatting inequality is BeAKid. It allows parents to find enrichment programs for their kids wherever they live and improve their quality of life.
Families are struggling to keep up with the rise in living costs. It has become incredibly difficult for them to afford fuel and meet their needs. However, they can expect to tackle inequality with the help of FamTech. The technology enables them to handle all types of tasks without having to leave their home. In a time where paying for fuel leaves families in a difficult situation, there is a need to take care of tasks remotely.
5. Impactism
Most people know that a better future doesn’t come on its own and that it can only be achieved through effort. This has resulted in impactism becoming a growing trend. For those of you that don’t know what impactism is, it is a form of collective action that aims to accelerate the improvement of the well-being and life quality of the general population. Besides just being a form of social action, it is a proactive approach that brings communities together so that they can counter forces that stand in the way of their growth. The movement is all about creating a decentralized network powered by technology.
6. Need for Access to Opportunities
In addition to the above, there has been a need for accessing opportunities for quite some time now. One of the areas where opportunities have been lacking for a long time is education. Since the only way families can expect to improve their lives is through technology, FamTech has proven to be a force for change. It empowers families by providing them with access to all types of solutions such as financial management, daycare, summer programs, and afterschool classes.
8. Simplification of Processes
Lastly, FamTech was introduced to simplify most of the outdated processes that had been holding families back. It was a no-brainer that everyone should be able to use technology for performing all types of tasks besides just online shopping. It is only the beginning of a future where everything can be done online. With FamTech, it has finally become possible for families to handle more work and thrive. For instance, startups like BeAKid simplify the process of finding enrichment programs for kids. It provides families with the ultimate platform so that they can find educational programs for their little ones.
Conclusion
Once you have gone over the post, you will know everything there is to know about FamTech. The technology aims to make the lives of families a whole lot easier. If you want to make sure that your kids have access to a better future, you need to support BeAKid. Our Wefunder campaign is live as we need to raise enough money to make access to education possible for all families across America. BeAKid is changing the industry by making the entire experience of finding and booking enrichment programs as easy as booking accommodation on Airbnb. You can play a part in reducing inequality by supporting us. We hope to empower the future generation. There is a lot more that we have in store for families out there.
BeAKid, Enrichment Programs, Summer Camps
Summer Programs, Education, Kids, Families, Afterschool Classes
