e tutoring oap
TRANSCRIPT
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Presentation prepared by the eTutoring Team
eTutoring
May 19, 2012
Opportunity Analysis ProjectVenture-Lab.com
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eTutoring Project – Venture [email protected]
o Wali Mughni, Ph.DEntrepreneur and Project LeadLinkedin: http://pk.linkedin.com/in/walimughni
o Tahm HormozdyaranBusiness owner, Engineers, Tech & Training domains.Linkedin: http://www.linkedin.com/in/tahmoures
o Nancy PanEducationist and Investment Banking sector experience.Linkedin: http://www.linkedin.com/pub/nancy-pan/10/117/700
o Nadeem QureshiTechnologis, Software Development and Management.Linkedin: http://www.linkedin.com/in/nadeemrauf
o Bilal ZiaTechnologist, Software Development and Management Linkedin: http://pk.linkedin.com/pub/bilal-zia/25/2b8/408
The Team
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• Via a user-friendly web-portal, if some of the world’s best teachers offer sometime to teach those who cannot afford, a global wellbeing will accelerate through knowledge exchange . Even for those students who can afford, better choices and greater flexibility in acquiring desired knowledge will augment global knowledge base.
• Needs based pairing of teachers, students, subjects, grade/level, timings and cost of engagement for all eager-to-learn students and willing tutors in a global setting on one-to-one and one-to-many scenarios will help facilitate education, training, economy and welfare of the world at large.
eTutoring Project – Venture [email protected]
The Idea Statement
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eTutoring Project – Venture [email protected]
Market Size
Market Size Based on Internet Users and Ready to Pay UsersWorld Population 6,840,507,003 Ref World bank, 2011
Internet users 2,279,709,629 Internet users Worlds Stats' data March 2012
Willing to learn or teach 387,550,637 17% of above sample population*
Willing to pay to learn 11,626,519 3% of above*
Minimum payment per year $23,253,038 $2 Minimum to pay/month*
Making study more conservative $2,325,304 10% of above - conservative scale down
Annual Turnover Conservative $27,903,646 12 Yearly projection
Year 2 projection $30,694,010 10% Growth increase over first year revenue
o About 1/3rd of the World Population uses internet.o About 0.05% of the internet users are like to be users of the portal
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eTutoring Project – Venture [email protected]
Pertinent Points from Research Survey
o Students by and large indicated that they would be willing to learn online
o Best teachers will be in demand and are likely to get greater market share
o Both Tutors and Students anticipate beneficial returns from the portal
o Rating of Tutors by the Students was regarded as a positive feature
o Hesitation to switch to a new technology medium was observed in some Tutors and few Students (statistically insignificant)
o Tutors as well as Students appreciated Matching/Pairing of local Students/Tutors for conventional tutoring classes
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eTutoring Project – Venture [email protected]
Competition & Differentiating Features
o Multiple sites offer tutoring lessons – all have limited tutors and students
o Few sites are targeted at niche market segments only
o No site on the web offers a global pooling, matching and pairing option for Students and Tutors for all subjects and topics taught at varied timings andgeographically dispersed locations
o No site offers an LMS and collaborative tool along with all essential training tools, including LMS (Learning and Management System) and a user friendly collaborative tool for live lessons
o Integration of proprietary and open source were used by our team to test and validate the system feasibility and operational capability
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eTutoring Project – Venture [email protected]
Why Should We Take it to the Next Level
o There is a definite identified Need for the envisaged portal
o The venture will benefit Students and Tutors alike
o The volumes are likely to be high as internet usage continues to grow
o Research portends financial viability
o The concept is unique and is not being used anywhere yet
o The project has the potential to be a disruptive technology that may dramatically change the way people teach and learn.
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eTutoring Project – Venture [email protected]
Funding will be Spent onThe Required Resources:
o Personnel
o Technology
o Testing
o Debugging
o Limited Marketing
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eTutoring Project – Venture [email protected]
What is needed to take it to the Next Level
o Finances to develop an operational and functional portal from the existing prototype. Specifically, the automated feature of matching/pairing the variables from the database needs a competent team of IT professionals.
o An estimated time of dedicated 3-4 months of development and testing.
o This is recommended to be conducted in a controlled environment to monitor anddebug the system for operational hiccups. Another 3 months estimated for this.
o Estimated team members dedicated to the project: One Lead, three technical, one marketing, one administration and multitasking.
o Estimated funds required for 6-7 months (local development) $24K x 6.5 = $156K (all inclusive)
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eTutoring Project – Venture [email protected]
Risks and Rewards
o The major risk is that if someone emulates the same model and launches it before we do… we are cooked.
o Since we have already developed a prototype and have already tested it, it would be almost impossible for someone to develop it from a scratch in a limited time of 6 months and launch it too.
o Secretly guarding the concept and codes during the initial development and pre-marketing period is considered quintessential to success.
o The rewards will be phenomenal for the entire team. Open to discussions and negotiations on sharing equity. Confidentiality, NDA and professional reliability is assured.
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eTutoring Project – Venture [email protected]
Key Issues
o Near Term (up to 7 months): Funding and Human Resource. Quality Human Resource will be acquired locally. Funding will be required.
o Mid Term (up to 12 months): More funding contingent on results achieved in the near term. Primary funding will be for expansion and may need up to $20 million for mass scale launch so as to prevent and preclude competition, ensuring barriers to entry.
o Long Term: Continued sustainability and continual improvement and innovation while retaining Customer focus is important.
o The probability of success and scale of operation will attract competition. Therefore, strategic measures to retain leading position is paramount.
