Tag Archives: Startup

How to start a Profitable Online Education Business [Latest EdTech Update & Resources]

Edtech Startups

  1. Ed-tech startup 3RDFlix pockets pre-Series A cheque (Sep 2019)
  2. Ed-tech startup WhiteHat Jr raises $10 million from Nexus, Omidyar, others (Sep 2019)
  3. CodeCombat raises $6 million to teach coding through immersive games (Aug 2019)
  4. Edtech Startup AdmitKard Raises $1 Mn In Pre-Series A Funding
  5. [Startup Bharat] Meet edtech startups that are taking quality education to non-metro cities across India (Mar 2019)
  6. Startup Watchlist: Top Indian Edtech Startups To Look Out For In 2019 (Feb 2019)
  7. List Of EdTech Startups (Jan 2019)
  8. 7 EdTech Startups That Could Reshape The Future Of Education (Nov 2018)

EdTech Industry Trends

  1. Edupreneur Village Fund hosted India’s first-of-its-kind live Edtech Investment Event in Delhi – [Sep 2019] Cash Prizes –
    1. INR 3 lakh – Don’t Memorise
    2. INR 2 lakh – One0x
    3. INR 1 lakh – Clap Global
    4. INR 50,000 – Mintbook
    5. INR 25,000 – Memory Trix
  2. What’s making education the golden spot for internet economy? [Sep 2019]
    • The edtech industry has been around since late-1990s, but the last six years have seen an unprecedented boom. Since 1997, the global edtech industry has received a funding of close to $38 billion, and over 60% of this has come in the last three years. So, what is it about e-learning that has made it such a lucrative opportunity for entrepreneurs and investors?
    • There are 250 million schoolgoing kids in India.
    • Most online courses are about 50% cheaper than their offline counterparts
  3. Artificial Intelligence, Authentic Impact: How Educational AI is Making the Grade – Educators find AI can revolutionize the K–12 experience, for both teachers and students. [Aug 2019]
    • In Florida’s Putnam County School District, educators are leveraging new content monitoring software to both automate the process of flagging potentially sensitive internet searches and add critical context to flagged requests.
    • And in New Jersey, Slackwood Elementary School is using an AI-assisted teaching assistant called Happy Numbers to identify where students are struggling with math benchmarks and provide personalized assistance.
    • Solutions such as the Presentation Translator — a free PowerPoint plug-in — provide real-time integration of multilanguage subtitles to help students better understand instructions in class or provide remote access for those dealing with illness or other family concerns
  4. Moving towards 21st century school education: Changes required – 21st century school education needs to be capable of teaching students how to deal with unpredictability and change.
  5. 8 ways technology use in classrooms is transforming the teaching-learning process (Aug 2019)
  6. Game-Based Learning: What All Leaders Should Learn About Training From The Health Care Industry (Aug 2019)
  7. [Funding alert] AI-powered edtech startup Blackboard Radio raises seed round from Villgro, others – Blackboard Radio will use the funds to further develop its AI-powered personalised English speaking coach for schoolgoing students in Tier II and III cities in India [Aug 2019]
  8. The Top 5 EdTech Trends 2019 — AI, AR, VR and more! [Jan 2019]
  9. Edtech Impact is finally here [Oct 2018]
  10. Q&A: Vadim Polikov’s Startup Brings Game-Based Learning to Science Class – New company Legends of Learning offers 900 research-backed games to educators. (2017)
  11. FIVE EDTECH COMPANIES THAT ARE TAKING GAMIFICATION TO THE NEXT LEVEL (2017)

Market Data, Studies

  1. Paytm eyes $2-3 billion in GMV in 18 months from education space
  2. Realizing the Power of EdTech – Scaling Access & Impact (Mar 2019) (PDF)
  3. 8 Ways EdTech Startups Are Setting Classroom-Innovation Trends
  4. 2018 Global Learning Technology Investment Shatters Records  –
    • “AI-based Learning is the one area where the US still has a commanding lead over China,” comments Sam S. Adkins, Chief Researcher of Metaari.
    • “The majority (61.5%) of all global investment in AI-based Learning companies went to 102 US-based companies that raised a combined total of $1.78 billion.
    • In stark contrast, $299.7 million went to just twelve Chinese AI-based Learning companies, a mere 10.3% of all global investments to AI-based Learning companies.
    • In 2018, 25 AI-based Learning companies in India obtained $227.7 million in investments, followed by Israel at $169.5 million.”
  5. Online Education: From Good To Better To Best? (March 2019) –
    • Examples of online degrees outperforming traditional degrees can be found across the globe and across students of all ages.
    • In the U.K., University of Essex’s online degrees placed in the top 18% of all U.K. institutions with a 91 score in the National Student Survey (NSS) run by Britain’s higher education regulator.
  6. Online Education in India: 2021 – a study / report by KPMG in India and Google (May 2017) (PDF)
  7. The ultimate guide to Edtech (2017)
  8. Ed Tech Developer’s Guide – A primer for software developers, startups, and entrepreneurs (2015)

Types of Online Edpreneurs

  1. HOW TO BUILD AN ELEARNING PLATFORM LIKE COURSERA (OR UDEMY)?
  2. Which Type of Online Course Business Are You? (And Why It Matters)
  3. MOOC Cloning: Build the Next Big Online Education Portal – Script Feature Analysis
  4. Social Cause: CrashUp: Let’s provide Free Education to every student in India (Video)

Choosing Platforms

15+ Platforms to Create and Sell Online Courses (and Counting)

Marketing Guides

The Ultimate Marketing Guide for Online Educational Companies

Tips for Beginners

  1. Launching An EdTech Startup? Here’s Everything You Need To Know – Part 1
  2. 22 TIPS FOR EDTECH STARTUPS AND COMPANIES
  3. How to start an online education business
  4. 6 Hard-earned Lessons for Starting an Online Education Business
  5. How To Start Your Own Online Education Business
  6. From unscreen.: How to Start a Profitable Online School in 5 Easy Steps
  7. From thinkific: 7 Steps to Building a Successful Business Selling Online Courses
  8. From foldcode: How To Build An Online Education Business
  9. From WordPress / Studiopress: How to Build an Online Education Business

Should I walk-out of my startup (early stage, self-funded)? #Quit #Win

Winners Quit All The Time
Winners Quit All The Time

A variation of a famous quote goes like this:

“Winners never quit and Quitters never win. But those who never win and never quit are idiots”.

Seth Godin explained this in his book “The Dip: A Little Book That Teaches You When to Quit (and When to Stick)” where he stated:

“Winners quit all the time. They just quit the right stuff at the right time”.

This morning, I had to deal with this question when I met an earnest hard-working young entrepreneur who is in the process of leaving a start-up after investing about two and a half years.

One of his queries was should he release his stake to other co-founders, most likely at suppressed valuations? This was making sense to him since he is no longer excited by the idea and one of the core reasons for quitting is his own evaluation about the startup’s “bleak” future.

I have done similar things – quitting a startup at book value as soon as my judgment showed that the startup at that stage of its life was entering a stage of hara-kiri and I was no longer interested in wasting more “opportunity cost”. Last when I quit a startup in similar fashion, I joked with the co-founders that I might be added to annals of startup history about being another Ron Wayne, who was one of the original founders of Apple, but sold his shares for paltry $ 800 which would be worth $ 35 billion today as estimated here.

However, in this case, I suggested that he should consider not releasing his stake cheaply. The startup is in futuristic technology and the issues are more about the classical dilemmas of Project versus Product, Focus versus Diversification, Cash Flow Management, etc. These things could be resolved as they have already built some intellectual property with an excellent development team and generated a revenue stream as well (though extremely slow, unpredictable and with very low margins). Prima facie, the startup seems to have reasonably good potential. However, it is not easy to have this “realization”, especially if you are an insider and can “clearly” see the mess! Hence, this gentleman is still inclined to release his stake at book value or lesser as emotions seem to be the over-riding factor.

Here are some more takeaways from the discussion:

  1. If you are leaving a startup because of strategic differences with the other co-founders, make sure you have done all possible communication with the co-founders with clarity and “agreed to disagree” on various issues. This would help you leaving on a note of “completion” rather than leaving on a note of “frustration” because you feel your views are not being listened to or not being understood. Another strongly recommended option is to schedule a meeting with a mentor or a Business Coach to get an objective view on the differences, and, perhaps, come to an agreement on new strategic direction for the venture.
  2. Do not get in the trap of a biased undervaluation (leading to exit on book value) or overvaluation (to negotiate hard unnecessarily). Get the venture valuation done by a third party (we could help with this).
  3. As far as possible, continue to have a relationship with the startup as an advisor or play a structured part-time role. This usually leads to more constructive long-term relationships and you always have a chance to come back. In one of the ventures, where I quit, I was continually invited, long after quitting, to join back as a co-founder. Finally, a continued relationship could help you start-up again in the same sector with a synergistic business relationship with the startup you are exiting.

To end the conversation, we moved on to brainstorming on his next startup, though he really wanted a cooling period of 2-3 years before he starts up again. Here again, considering the emotional space he was in, I suggested starting at least some “fun” project immediately to keep the creative juices flowing before he finally zeroes-in on the next startup.

Are in you in a similar dilemma? Wondering whether to stick, pivot or quit? We could help – email at coach@bizvidya.com to schedule a meeting with us.

Will Car Sharing Work In India?

Greg Moran and David aim to introduce “Zoom Car India”, a Car Sharing service in India, beginning with Bangalore. While we do have initiatives like www.poolmycar.in in India, “Car Sharing” aims to be different than “Car Pooling” or “Ride Sharing”.  They are using indiegogo.com to raise $ 15,000 out of the $ 500,000 investment they intend to raise after the Proof of Concept (POC) is established.

Zoom Car India
Zoom Car India

Their pitch here states:

If you live in Bangalore, you should donate so that we can bring this service to you as soon as possible! We also have some great incentives to get you behind the wheel of a Zoom vehicle.

If you don’t live in India, you should consider donating because of the enormous social and environmental benefits that car-sharing provides.  By leveraging investment capital and re-investing revenues from members, we will give your donation’s ultimate impact a huge multiplier effect!

More updates on this venture can be seen here.