Alec MacGillis of ProPublica wrote recently in Raw Story about the feeding frenzy that accompanied Big Tech’s sales pitch: the tech industry claims that its hardware and software can cure learning loss. The salesmen dazzle teachers and administrators with promises and swag. The irony, as the story points out, is that “learning loss” was associated with remote learning, lack of personal interaction with their teachers. Why not more of the same that exacerbated the problem?

For the nation’s schoolchildren, the data on pandemic learning loss is relentlessly bleak, with education researchers and economists warning that, unless dramatic action is taken, students will suffer a lifelong drop in income as a result of lagging achievement. “This cohort of students is going to be punished throughout their lifetime,” noted Eric Hanushek, the Stanford economist who did the income study, in ProPublica’s recent examination of the struggle to make up for what students missed out on during the era of remote learning.

For the burgeoning education technology sector, however, the crisis has proven a glimmering business opportunity, as a visit to the industry’s annual convention revealed. The federal government has committed $190 billion in pandemic recovery funds to school districts since 2020, and education technology sales people have been eagerly making the case that their products are just what students and teachers need to make up lost ground.

“We’re huge in learning loss,” said Dan DiDesiderio, a Pittsburgh-area account manager for Renaissance Learning, a top seller of educational software and assessments. He was talking up his company’s offerings in the giant exposition hall of the Philadelphia Convention Center, where dozens of other vendors and thousands of educators gathered for three days late last month at the confab of the International Society for Technology in Education. For DiDesiderio, who was a school administrator before joining Renaissance, this meant explaining how schools have been relying on Renaissance products to help students get back on track. “During COVID, we did see an increase across the board,” he said.

Renaissance is far from the only player in the ed tech industry that is benefiting from the surge in federal funding, and the industry enjoyed a huge wave of private funding as the federal tap opened: The annual total of venture capital investments in ed tech companies rose from $5.4 billion to $16.8 billion between 2019 and 2021 before tailing off.

The largest chunk of the federal largess, $122 billion that was included in the American Rescue Plan signed by President Joe Biden in March 2021, requires that schools put at least 20% toward battling learning loss, and companies are making the case that schools should spend the money on their products, in addition to intensive tutoring, extended-day programs and other remedies. “The pandemic has created a once-in-a-lifetime economic opportunity for early stage companies to reach an eager customer base,” declared Anne Lee Skates, a partner at venture capital firm Andreessen Horowitz, in a recent article. (Her firm has invested in ed tech companies.) The federal funds “are the largest one-time infusion of funds in education from the federal government with almost no strings attached.”

Five days before the convention, the National Center for Education Statistics had released the latest devastating numbers: The decline in math scores for 13-year-olds between the 2019-20 and 2022-23 school years was the largest on record, and for the lowest-performing students, reading scores were lower than they were the first time data was collected in 1971.

But the mood was festive in Philadelphia. The educators in attendance, whose conference costs are generally covered by their district’s professional development funds, were excited to try out the new wave of nifty gadgets made possible by the advances in artificial intelligence and virtual reality. “For a lot of us, it’s like coming to Disneyland,” said one teacher from Alabama.

One could also detect the slightly urgent giddiness of a big bash in its final stages. Schools need to spend most of their recovery funds by 2024, and many have already allocated much of that money, meaning that this golden opportunity would soon close. And summer is the main buying season, with the fiscal year starting July 1 and with educators wanting their new tools delivered in time for school to start in the fall.

Hanging over the proceedings was an undeniable irony: The extent of learning loss was closely correlated to the amount of time that students had spent doing remote learning, on a screen, rather than receiving direct instruction, and here companies were offering more screen-based instruction as the remedy. Few of the companies on hand were proposing to replace the classroom experience entirely with virtual instruction, but to the degree that their offerings recalled the year-plus of Zoom school, it could be a bit awkward. “A lot of people don’t like us, because we can do remote-school stuff,” said Michael Linacre, a salesperson for StarBoard Solution, before demonstrating one of the cool things a StarBoard whiteboard could do: He jotted 1+2= with his finger and up popped 3. “There’s a mixed feeling about that now.”

Most of the vendors were not about to let that awkwardness get in their way, though, as they cajoled teachers to listen to their pitch, often with the lure of free swag.