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Edu-venture 2022 Startup Case Study

-Shreyash Agrawal

IITGN

Index

Edu-Venture - Technological Dive in Education

Edu-Venture

In this progressing digital world, it is important that the future of our country i.e. students receive top notch education. It encompasses methodologies concerning hardware, software to involve the most effective means of spreading knowledge. Our startup - Edu-venture focusses on this technological dive in education.

“Tech gives the quietest student a voice.” – Jerry Blumengarten

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Recent Developments

• Big data analytics is being culminated to monitor and cater to individual student’s needs.
• Investments - Current market size is about 700 - 800 million USD. It is expected to 4 billion USD with investments made in AR, VR, online boom.
• No age to learn - People are starting to believe in lifelong learning and constant growth which expands market size immensely. .

Challenges to address

• Poor accessibility is still an issue in many areas.
• Absence of training for online platforms.
• Finding it hard to accept online mode of learning. Many people are still comfortable with traditional way of learning which hinders this sector.
• Mentality - Many students enrol for the sake of certificates to add in resume and not for learning.

Over 760 million smartphone users in India and more than 30% of them are less than 25 years old and could potentially use it for education through online classes.

Edu-Venture - Sector Research

• The country has one of the largest networks of higher education institutions in the world, with ~260 million students enrolled in >1.5 million schools and ~39,000 colleges, primarily dominated by the private sector.
• The K-12 segment led the market in 2020 accounting for a revenue share of over 41% and will retain the leading position expanding at a steady CAGR from 2021 to 2028.

• The content segment will witness immense growth. The EdTech sector is witnessing innovation in content delivery with the incorporation of advanced visualization technologies. It can be attributed to the availability of numerous e-learning portals

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• Integration of blockchain technology allows end-users to store and secure records of students and learners, thereby enabling educators to analyze the consumption patterns of the material offered to the learners and make data-driven decisions.

Edu-Venture -

Sector Research

• Current Market size is about 700 - 800 million USD.

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• Industry leaders includes - BYJU's, upGrad

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• Expected to reach 30 billion USD in 10 years.

• Interesting figures -
• BYJU’s commands a valuation of 15 billion USD.
• China accounted for almost two-thirds of venture capital funding in 2020, with investment in the US and India each at around $2.5 billion
• upGrad raised a funding of 120 million dollar
• Online education offerings for classes 1 to 12 are projected to increase 6.3X by 2022 from the base of 2019.

Competitive Analysis

• Current Market size is about 700 - 800 million USD.

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• Industry leaders includes - BYJU's, upGrad

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• Expected to reach 30 billion USD in 10 years.

Target Audience

• Location

To keep the location inclusive for all, majority of the branches have online mode of learning. Although it is important that we have physical branches in towns and cities to maintain smooth administration. The top 4 companies which we witnessed in the competitive analysis are situated in Mumbai and Bangalore. This shows us that metro cities/big cities have larger audience group probably because of urbanisation to greater extent. We can bring the demographic down to these selected cities.

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• Age

This is probably the most important segment of target analysis. We have to allocate resources carefully such that it gives us maximum efficient results in terms of dedicated audience. Ex - We can’t go on advertising upon consulting courses, coding workshops when our audience is 5-6 years old. The admission rate would be drastically low.

• Primary - K-12 children, teacher, college undergraduates and postgraduates and professors.
• Secondary - Parents who want to continue their education, professionals looking for a boost in their career.

Target Audience

• Income

Employment status determines the fact that one will enrol or not. This also tells us one of the major problems which our customer might find while investing in learning. They are ready to flush lacs of rupees on degrees but not several hundreds or thousands in online courses.

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Market Size - A guesstimate problem

How many subscriptions can you get at current market position?

Assumptions:

• I have considered only paying subscribers. There is no piracy as it is hard to keep track of.
• Internet connection is poor in rural India.
• 40% of Indian live in urban areas.
• There is not much awareness among children and elders.
• A person using multiple platforms is counted only once.
• Free source like youtube is not considered.
• It is being assumed here that the owner of account shares password with his friends and family member therefore the demographics has been taken accordingly.

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Important Data

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• Population of India - 1,40,03,83,713
• Urban Population - 56,01,53,485
• < 16 years - 16,80,46,045
• Actually pay - 84,02,302
• 16-45 years - 14,00,38,371
• Actually pay - 2,10,05,755
• >45 years - 25,20,69,068
• Actually pay - 1,26,03,453
• Rural Population - 84,02,30,227
• Actually pay - 8,40,23,022

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Total people actually paying - 12,60,34,532

Which is just ~9% of the total population.

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If our startup enters with a superb idea, this percentage will surely improve.

Now that we see profit in market let’s plan our startups features and mode of functionality.

Edu-Venture - StartUp Idea - Business Plan

Physical Presence

In this progressing digital world, it is important that the future of our country i.e. students receive top notch education. It encompasses methodologies concerning hardware, software to involve the most effective means of spreading knowledge. Our startup - Edu-venture focusses on this technological dive in education.

“Tech gives the quietest student a voice.” – Jerry Blumengarten

​

Online Presence

• Big data analytics is being culminated to monitor and cater to individual student’s needs.
• Investments - Current market size is about 700 - 800 million USD. It is expected to 4 billion USD with investments made in AR, VR, online boom.
• No age to learn - People are starting to believe in lifelong learning and constant growth which expands market size immensely. .

Physical Presence of

Edu-Venture

Administrative offices -

Howsoever modern a country becomes, it will still follow traditional

method to some extent. It is easy to develop trust when we physically

meet with the concerned institution. We will start with institutes at major

Indian cities. This is based on our competitive analysis that top 4 edtech

industry bloomed in Mumbai, Bangalore followed by other metropolitan

cities. PGI grade sheet also shows good scores throughout India.

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Setting up offices and education institutions is necessary for initial boost.

Once established we can expand our range. This way we establish a

concrete base for our startup.

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Marketing -

Word-of-mouth is crucial to our success. We have to be top-notch in terms

of staff management, branch management, future ready.

Moreover, hoardings are a way of offline marketing. Getting funding is

without a doubt the most important step for Edu-Venture so that our

Ambition meets reality.

Online Presence of

Edu-Venture

Our main focus will be online presence of edu-venture once we are physically established. As this gives us unlimited audience.

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Social Media OutReach Programme (SMOP)

YouTube Channel

The lectures will be recorded and uploaded on YouTube. This will go hand-in-hand with our physical establishment. This in particular would be a stepping stone for our online presence. We will not directly jump to providing courses on deemed platforms and monetizing them. Instead we aim for loyal customer base and then convert these into paying ones. YouTube will also act as a secondary source of revenue via Adsense, Partner Programme. Another idea is to keep YouTube for K-5 class as they might not be willing to pay extra and would rather enjoy free content in Youtube.

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Other social media platforms

Marketing via LinkedIn, Instagram, Twitter etc. Once we have a loyal customer base via institutions and YouTube channel, we will reach those who are far away from us and can not use our facilities.

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Online Presence of

Edu-Venture

Moving on to concrete source of revenue for our startup

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Mobile App and Website

These will be cherry on the top. Our free mobile app and website will give 24x7 access to each and every one of our content.

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Features:

• Task assignment, progress tracking, and file sharing is enabled among the students.
• Voluntarily group forming for assignment and tutorials. Maximizing group participations reduces burden.
• Learning Management System and School Information System. Administration, documentation, tracking, reporting, automation, and delivery of educational courses, training programs, or learning and development programs.
• AR/VR technology is on the rise. These additional features will help us monetize our app. It will be our premium feature.

Online Presence of

Edu-Venture

Content

• Almost all of the top edtech companies are focusing on prominent examinations such as - JEE, NEET, GATE, UPSC, CAT, GRE etc.
• Our unique speciality will be inclusion of special kids. Ex - Using motion sensor technology to educate students in kinematics is something new. This addresses people with dyslexia, autism, ADHD.
• Data :- 1 in every 160 children is a patient of Autism.
• AI based course selection - Many a times, people choose wrong course or miss some important ones. Using AI this can be eliminated. Professionals can input their expected growth and wanted skills and the platform will suggest courses for the same.
• Availability and Accessibility - Buying numerous books is financially difficult and once it gets exhausted, there is seldom any more use. Going online in soft format is also eco-friendly and eliminates the problem.
• Distance is not an issue anymore. It is a self-explanatory point and our outreach programme is aimed at this aspect.

14-10-2021

Funding generated at competition among 100 startups. x cr funding raised.

04-01-2022

Inauguration of our physical institute and launch of YouTube channel. We will choose several metropolitan cities.

04-01-2023

Till this time we will have a small team. Now we will start hiring and expanding to smaller states s well.

07-07-2023

Spent last 6 months advertising online. Collaborating with creators on Instagram, tweeting regularly, vouching for students in their legible forums.

14-10-2023

Launching website and application with numerous courses recorded in the past years with all the features discussed.

Online Phase wise Business Plan

Unique Selling Point

Marketing

• Learning at your fingertips supplemented with modern AR/VR technologies.
• AI-based course suggestion for people finding it difficult to adjust.
• Inclusive for special children.
• Not only school - level course but also corporate world-related courses.
• Parents can monitor their children’s dashboard.
• Offline centres keep growing rapidly for any administrative purpose.

• Physical marketing via hoardings and pamphlets to reach out to elderly and middle-aged audience.
• Insta, Youtube, FB ads, frequent tweets to stay relevant among community. (SEO)
• Market our speciality such as AR AI, VR, inclusive for all age-groups.
• Video traffic accounts for 69% of worldwide internet traffic. Video marketing is the key.

Revenue Source

Our startup has multiple revenue sources. As this particular

Sector is booming, this has led to multifold positive results.

Appendix

• https://www.youtube.com/watch?v=b-hDg7699S0
• https://articles.bplans.com/how-to-write-a-market-analysis/
• https://blog.hubspot.com/marketing/target-audience
• https://startuptalky.com/best-revenue-model-startups/
• https://economictimes.indiatimes.com/tech/technology/indian-edtech-industrys-market-size-to-reach-30-billion-in-10-years-report/articleshow/82295097.cms
• https://www.google.com/url?sa=i&url=https%3A%2F%2Fonlinelibrary.wiley.com%2Fdoi%2Ffull%2F10.1002%2Fsres.2702&psig=AOvVaw1Puiqd7pvfuXJ9ZqUltde4&ust=1641316105313000&source=images&cd=vfe&ved=0CAsQjRxqFwoTCPDv1JCJlvUCFQAAAAAdAAAAABAX
• https://theeducationoutlook.com/technology/5-major-challenges-faced-by-edtech-companies-in-india/
• https://salesintel.io/blog/7-best-go-to-market-strategies-for-edtech-companies/
• https://medium.com/@illia_danylenko/target-audience-of-edtech-projects-who-are-they-and-how-to-work-with-them-5c45275718e6
• https://corporatefinanceinstitute.com/resources/knowledge/other/edtech/
• https://economictimes.indiatimes.com/wealth/earn/why-byju-raveendrans-firm-is-leading-in-the-educational-technology-space/articleshow/52700525.cms
• https://www.grandviewresearch.com/industry-analysis/education-technology-market