We are your indispensable gateway to the exploding and often chaotic world of MOOCs and online education. Rich with relevant and valuable information and tools for learners,we will guide you on how to find the best courses and paths for your learning goals. We have put together a slide deck to show how we can execute on this opportunity. We have surveyed potential users and found a strong interest in not just registering, but also in paying an average of $8/month for our premium features. We are excited about this venture and invite you to take a look!
2. Fundamental Problem
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Many MOOC and online education providers (Coursera, edX, Udemy, etc.)
have been growing very fast in the last couple of years
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Given that the MOOC industry is in its infancy, there are few independent
tools for students to help guide them
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A few of their issues:
○ Not knowing where to start
○ How to compare offerings by different platforms
○ Lack of interaction and stimulation
○ High dropout rates
3. Product
A comprehensive cross-MOOC platform with a simple interface to empower
students with tools for success. Developing solutions for problems that are
difficult for individual online education providers themselves to solve.
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Guidance based on learning goals
Course reviews and ratings
Course organizer
Matching with learners online or locally
Matching with mentors and tutors online or locally
Profile with testimonials and certificates for recruiters
4. Team
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Six of us from all over the world gathered during Stanford’s Technology
Entrepreneurship Part 1 around our deep experience in MOOCs,
crowdsourced innovation, Learning Management Systems,
entrepreneurship and online education, convinced that in this exploding
market, we could craft something unique
We were chosen as one of the Demo Day Top 20 in TE1
The demo did not resonate. The pitch, product direction and
addition/removal of members were being monopolized by the team lead.
The others decided on a more inclusive direction and added new talent,
so team lead left in TE2 to continue his interests elsewhere
This experience taught us valuable lessons in how to handle such realworld challenges in startups in a constructive fashion
5. Marketing
We divided our marketing strategy into two phases, going after the lowhanging fruit first - those learners who would instantly recognize our value,
then potentially reaching learners beyond the MOOC enthusiasts.
Phase I Target Market
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Learners enrolled in the biggest MOOCs - edX, Coursera, Udacity, Udemy,
etc
Approx 10 million users globally right now, growing exponentially
Phase II Target Market
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Beyond traditional MOOC users
Extending to all learners who turn to the Internet for courses or learning
6. Sales & Distribution Strategies Ranked
1. Directly contacting instructors to link to our platform in their courseware and
possible cooperation with platforms to embed our tools.
● 88% of those aware of MOOCs would click on a link to our platform
2. Use of social networks. Introduce EduHub, its concepts, its features, send
notifications and tweets to students of Coursera, Novoed, etc.
● 67% would be receptive to social marketing (75% of those aware of MOOCs)
3. Share course review links, class/topic links in discussion forums of big
MOOCs.
● 50% of those aware of MOOCs would click on such links
4. Facebook ads, Google Adwords. Direct e-mail to friends & family interested
in MOOCs and education in general.
● 40% would click on direct e-mail or ads
7. Costs for 6 Months
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Marketing: >$15K to acquire 500K users. We’ll follow the lean startup model everyone does some marketing, customer support, etc. For example, we’ll share
widgets with instructors (such as for course reviews) that will make their course
more effective, popular. Contact 10 instructors/TAs; 60 mins; cost $30. 1 post
links/widgets; 10K visitors; 10% or 1,000 join. 1,000 users for $30 @ $0.03/user
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Design, Development, Hosting: $50K. We will develop a website with responsive
design so it works well on tablets and smartphones. Most personnel will be paid
with 100% or mostly equity, but to get certain design and development expertise,
some funds will be needed. We will use an IaaS like Amazon Web Services to
minimize our infrastructure costs, and yet be ready to scale as needed. We will
also be using crowdsourced testing and debugging.
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App Design & Development: $35K. Native iOS, Android and HTML5 Apps.
8. Partnerships
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MOOC Platforms - edX, Coursera, Udacity, Udemy, etc
MOOC Content Developers - universities, companies, instructors
Social Networks - LinkedIn, Facebook, Google Plus
Video Platforms - YouTube, Vimeo, Lynda
Group Platforms - Meetup.com
Technology - Amazon Web Services
Tutoring Platforms - Google Helpouts
9. Revenue Model
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Survey Results. Those who know MOOCs appreciated the set of features to
improve their learning experience and drive them toward completion. 10 out of
the 12 signed the memorandum of understanding. 6 out of those 10 would use
our platform for free. Four out of those 10 were willing to pay an average of
$8/month for premium access. The range was $5-$20, the mode was $5.
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Subscription Revenue: $100K/month. 500K users. 20% active users. Premium
users (10% of active users): 10K subscribers. @$10/month
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Tutoring Revenue: 30% (would cover our commission and transaction costs)
10. Prioritized Risks and Mitigation
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Technical: Remaining market leader in usability and speed
○ Building a UI/UX gamified interface that is addictive
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Market: Coursera and others may implement similar features, reducing our
relevance
○ Focus on our cross-platform strengths and independence
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Financial: MOOC bubble, dilution of investor interest
○ Grow user base quickly, even at the expense of revenue, to be able to
monetize after a Series A or B
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People: Finding and retaining an A-level team
○ Use well-connected investors to find and retain an adaptive core team of
capable A-level people passionate about the vision
11. Funding
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Need to raise 100K
Crowdfunding to get PR - Kickstarter, etc
Start design & development
Create word-of-mouth and a core community of evangelists
Attract investor interest for a seed round
Get the 100K from crowdfunding + seed round
Launch
Get a Series A from a VC after a year of operations