Team MOOCTechnology Entrepreneurship IIStanford University

Fundamental Problem

● Many MOOC and online education providers (Coursera, edX, Udemy, etc.) have been growing very fast in the last couple of years

● Given that the MOOC industry is in its infancy, there are few independent tools for students to help guide them

● 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

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.

● 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

Team

● 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 real-

world challenges in startups in a constructive fashion

Marketing

We divided our marketing strategy into two phases, going after the low-hanging fruit first - those learners who would instantly recognize our value, then potentially reaching learners beyond the MOOC enthusiasts.

Phase I Target Market● Learners enrolled in the biggest MOOCs - edX, Coursera, Udacity, Udemy,

etc● Approx 10 million users globally right now, growing exponentially

Phase II Target Market● Beyond traditional MOOC users● Extending to all learners who turn to the Internet for courses or learning

Sales & Distribution Strategies Ranked1. 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

Costs for 6 Months● 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

● 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.

● App Design & Development: $35K. Native iOS, Android and HTML5 Apps.

Partnerships

● 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

Revenue Model● 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.

● Subscription Revenue: $100K/month. 500K users. 20% active users. Premium users (10% of active users): 10K subscribers. @$10/month

● Tutoring Revenue: 30% (would cover our commission and transaction costs)

Prioritized Risks and Mitigation ● Technical: Remaining market leader in usability and speed

○ Building a UI/UX gamified interface that is addictive

● Market: Coursera and others may implement similar features, reducing our relevance○ Focus on our cross-platform strengths and independence

● 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

● 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

Funding

● 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

Team

Yoni DayanVlad KostanyanRahul NandaKinger Mallik