Introduction:
Hello. My name is Martina Seo and I am the CEO of Kenkosei Augmented Reality Learning Technology (a fictitious company for this assignment). My product is an app for schools to learn in augmented reality. Like Pokemon Go, teachers can create locations in their textbook, classroom or school premises for students search and obtain informational badges by completing various tasks to show assessment in their learning outcomes. How it works is teacher will put a knoweldge badge in a location and students will be able to collect the badge by answering a question or simply by locating the badge and capturing it. Students can then take it even further and create their own informational badges for the next student to come and discover new challenges to complete. There can be clues set up or just locators around the premises for students to venture out and find all their badges within the building or within the pages of their textbooks. Teachers can place additional information to each badge by creating it themselves or using the bank of informational badges provided by Kenkosei Learning Technology. It makes learning interactive, experiential and fun. There is nothing like it on the market now where students and teachers are able to create their own AR in the classroom and customize it to according to their learning preferences. It’s a new way to personalized learning. We need investors now to take Kenkosei AR Learning Technologies to the next level.
Here is my elevator pitch:
Here is my venture pitch:
My Team:
My team and I are a strong and experienced group. The IT Department is led by Ed Collins who is the leading IT Manager in the industry and has worked for many IT companies in the past. Nikki Wallin is a well-experienced graphic designer who has led departments in the past for various startups in Silicon Valley. After graduating from Harvard with a software engineering degree, Bill Keary joined our team as the lead software engineer to pioneer our app development. And the educational team consists of provincial science curriculum developer, Lily Vu, UBC mathematics professor Edward Suderman and English Literature PhD graduate, Spence Capier. I have been in a high school home economics teacher for the past 4 years, I have volunteered in developing countries where students had limited resources and I have a passion for teaching students in a meaningful, fun and interactive way.
The Problem:
There is a gap with the augmented reality and day-to-day classroom activity. Our product is not only cutting edge with the ability to be customized by educators and students to make a more personalized learning experience, but also, it is interactive and fun. There is no other product on the market which allows educators and students to create their own augmented reality. Students can challenge themselves from each level in their academics and push themselves further in learning in augmented reality.
The Solution:
Our solution is putting the power back into the teacher’s hands by allowing them create their own augmented reality personalized for their classroom. Whether it’s the sciences, literature, applied skills, teachers can create their own augmented reality to best educate their students with the tools on their devices. Students then can learn in a 3D realm in their augmented reality and take this information to review anywhere in the world. What if learning wasn’t only meant to be in classrooms and textbooks, but instead allowing the teacher and student acquire knowledge through augmented reality with interactions and game playing?
Marketing/Sales:
We will sell the app for $4.99 to teachers and $1.99 to students. School districts can pay an annual fee of $999.99 for unlimited usage with 24/7 IT support and tutorials. We are projected to launch in Canada, USA and Australia in the next year 2017 and are expected to expand to the UK and China the following year 2018. And for every classroom who purchases the app, there will be sister-classroom in a developing country who receives devices and the learning app. Our goal is to be a triple-bottom-line where we achieve cash profit, social value and environmental sustainability. We would like to give back to the global educational community.
Projections/Milestones:
We have already tested the app in 10 school districts and it has been very successful. We have sold over 1,000 apps and generated a revenue of $100,000. However, we still need to raise another $1.2 million to purchase an office space, hire 50 more employees for IT support, software engineers, educational staff, public relations liaisons, marketing representatives and designers to take the app to the next level. When we hit our mark of $1.2 million and break into the global market, we are projected to make $100 million profit within 2 years time.
Competitors:
AR Flashcards – Alphabet (Free): App to help students learn the alphabet
AR Flashcards – Shapes & Colors (Free): App to help students learn colors and shapes.
Chromville (Free): Educational app using the eight multiple intelligences. Students color their characters and then they come to life with the Visual Arts app.
Barcy (Free): From the creators of Chromville comes Barcy, an AR app that explores water life and the water use.
Chromville Science ($4.99): Chromville Science joins art, technology, science and the eight Multiple Intelligences, promoting the development of kid’s creativity and their motivation for the learning process according to their needs and preferences.
Elements 4D (Free): AR Chemistry app that brings the elements to life. It includes lesson plans for all levels: elementary, intermediate, and high school.
Anatomy 4D (Free): Bring the human body to life with this AR app. Have students learn about the different systems and human anatomy with this app.
Arloon Geometry ($2.99): An amazing way to learn geometry! This app features 3D models with AR for most geometric shapes. By directly interacting with the figures, your students will improve their spatial visualization.
Arloon Mental Math ($2.99): Fun way for students to practice addition and subtraction without using paper.
We are different from our competitors because Kenkosei AR Learning Technology can be personalized by the teachers and students. We provide support 24/7 with our IT Support and tutorials. We are also at a very reasonable price for the customer service and support provided by our excellent team.
Business Model:
2017 January – Launch in Australia, Canada and USA = Revenue of $50 million
2018 January – Launch in Asian and Europe = Revenue of $50 million
We will sell the app for $4.99 to teachers and $1.99 to students. School districts can play an annual fee of $999.99 unlimited usage with 24/7 IT support and tutorials.
Financing:
We have raised $100,00 and need another $1.2 million to purchase an office space, hire 50 more employees for IT support, training support, software engineers, educational staff, public relations liaisons, marketing representatives, designers and sales team to take the app to the next level. AR Learning is projected to be a 5 billion dollar industry in the next two years and there is a lot of potential to make a profit with the right educational app company and we believe we are the right app investment for you.
Please contact us to further discuss your investment plan and how we can partner together for a better future in AR Learning in the classrooms at a global scale.
Reflection:
When I first started this project, I wanted to make sure I was going to do it correctly. I researched up elevator pitch and venture pitch online. I found some examples and studied it. Then, I had to figure out what I was going to base my learning technology on. After the boom of Pokemon Go, I decided to play it on my iPhone. It was great and easy to use, so I chose to do something very similar for my learning technology. I had to research what was already out there and figure out how I was going to present it to an investor instead of a consumer. Why would an investor want to partner in my company and what kind of information is needed? So, I researched and found some examples. It was not super easy or difficult, but it did take a lot of time. I believe I spent close to 15 hours working on this project. I chipped away at it from 1 – 5 hours a day to figure out how I was going to research, compose and then present the project. I learned a lot. I learned what it means to present an elevator pitch, who my audience is, how much work it goes into creating a business for a learning technology from start to finish and how much planning is required with my time to do this project. I had to figure out how to use iMovie on my computer, I haven’t used it in a year. I watched several videos on how to voice record, separate audio from video and how to upload onto YouTube. I had to figure out how to upload my elevator and venture pitch which was not easy. I had a panic attack when my elevator pitch wouldn’t upload on YouTube because it took 3 hours to convert. I uploaded it 3 times and after a few hours, I saw all 3 copies on my YouTube channel. The venture pitch also took a few hours to upload and I had to try multiple times because my macbook is 4 years old. I had to try how to maneuver through a longer video and how to manipulate it. I wonder if the upload was slow because of the age of my computer. I assumed the longer video would take a longer time to upload. This project really did stretch me and I learned how to create an elevator pitch and venture pitch. It was great I could find examples on the Internet. I also emailed all the websites letting them know I was using their photos for my project. I used several photos for the elevator pitch and chose to just use myself in the venture pitch. I was able to create a free logo on a website and there are a lot of resources available for those who want to explore in creating their own company. I’m sure business has come a long way since the age of the Internet!
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