scott

Ah, I see where I was confused now! I did not realize you required the assignment to be paper submissions - I was thinking they could be digital. It makes a lot more sense now, thanks for that. In that regard I don't know of any apps that are capable of this, you're right, and makes this product all the more lucrative, assuming they won't become dependent on this tech like they do with app-based scribing. Thanks so much for the reply!

This is an excellent question, Adam! I'm sure you're not alone in asking it. There are many ways I could answer this question but I'll try to answer it in non-technical terms. Learning to play an instrument is, on the most basic level, learning how to make pleasing sounds. It's the mechanical stuff... where to put your hands and fingers on the guitar to make the sounds you want to make, whether it be learning how to pick, make chords, strum, perform hammer-ons and pull-offs, and so on. You literally don't need to know theory to play an instrument, and as I mentioned many musicians don't even bother with it. If you have a great ear you can get far; sometimes very far, as in the case of Django Reinhardt for example. However, learning theory provides the, well, theoretical side to the music which compliments the mechanical. It helps make sense of why those few chords or scales you picked up from a friend, or YouTube, sound the way they do. It also helps you build chords and scales yourself, taking away much of the trial and error. Learning theory helps you analyze and understand songs and their structure, their emotional weight based on what humans find pleasing (or not so pleasing), based on the physical frequencies we are most attuned to respond to. Learning to play an instrument, more often than not, only allows you to play the songs, without providing deeper understanding. To finish, I'll put it another way, in terms I heard once. Playing an instrument without knowing music theory is like learning how to navigate a new town. My trial and error, driving here and there, you learn some good routes, getting where you need to go most of the time. You pick up a few good tips or shortcuts from a friend, helping improve the process. This can be seen as being similar to learning those first few 'riffs', scales, or chords from a friend or YouTube with no theory involved. Learning music theory gives you the whole map. It will take a while to process and memorize the map, but by doing so you can now choose to go anywhere you like using any route you like, and you'll understand why you've chosen to do so. You can take simple routes, complicated routes; it's all up to you at that point. You can make much more informed choices. Thanks again for the question, and I hope this made some sense to you! :D

Lori - I loved this. I'm an avid gamer so your idea had me hooked even before I clicked play, but of course your venture drew me in deeper. It is a really interesting take on game-based learning. It was impressive how you focused on an existing product while extending/expanding its functionality to better serve current customers as well as new ones which will come along as the market grows. I have seen this simulator on Steam many times, never pulling the trigger to buy it, but making it more accurate while adding VR could be the clincher for me. The pain point or problem you've identified - so many options, none having exact capabilities, fear of blowing something up, and so on - is real, and I've experienced it. I'm a "geek" and "techie" but I'm embarrassed to say I've never built my own gaming computer because of fear of messing something up and having wasted so much time, effort, and MONEY. Forum trawling is real and, while fun and interesting for some, can be tedious and frustrating for others. Your venture really would assuage this by lowering the bar for those who want to enter this area of DIY. By making your product more accurate, and especially by linking it to a real-world store (genius), you take the original product from being "huh, neat" toward being a product that's essential for anyone even remotely interested in exploring building their own system. Using AI to process user data, learning their skill level and scaffolding their experience is really clever and totally do-able. It seems to me that your product differentiates itself by being the only one of its kind, which is a boon to the venture as a whole. You clearly identified a very specific (but very real) market while musing on potential future partnerships and expansion goals, which I appreciated. I would have appreciated more specifics during your $5M Ask as well as your 5-year Returns, but you (like myself) identified these areas as being weaknesses that could be supported by hiring the right team members. On that note, I found myself wanting more when it came to this venture's championship, such as a little more information on what makes you uniquely qualified to lead this venture; you are clearly passionate about the idea but I don't feel like there was enough meat on the bone when it came to why I should care about you, or trust you. But overall, brilliant work. It's extremely difficult to pull together a video that hits all the marks and I think you did a truly honourable job. Congrats!

Hi Aggie, I think your venture is coming with perfect timing; not too early, or too late, but just right in terms of taking advantage of the mixed-reality market status. I love the idea! As the husband of a primary teacher, I've learned quite a lot about how children learn through "total physical response", and how they grasp letter sounds faster when linking handwriting motion to the sounds. A product that leverages MR to provide these educational experiences would be really amazing. To be specific, you did an excellent job outlining the "what", "why", and "how" for Scribe Right. You clearly did your research as you produced a lot of really interesting market data with accompanying visuals - great work. You took your time to outline the competition such as other apps that teach similar skills, but also made an effort to emphasize what makes your product different, through it allowing students independence as well as being able to dictate to the Hololense (really cool). I gave you 4 stars for the pitch, mostly because I really liked how creative you were to mesh "hot topic" tech with a pressing educational pain point! Here are a few things that came to mind as I explored your work. I would have liked to have seen a larger team to help you make the venture a reality. You seem highly competent but wasn't sure you could produce this entire project all on your own. Also, the link to funding didn't work for me, meaning I couldn't explore what I assume was your ASK and RETURN. Huge Bummer!! You stated there's "no way in technology to help students practice their writing in real time". I didn't agree, as there are many writing apps to help students. Maybe this statement could be adjusted to suggest that no mixed reality apps exist for it? I am also curious how you would convince teachers to invest in headsets for each student when they could engage in similar (if not quite as effective) activities on a free app with a stylus. You also mention the importance of being able to use the headset during assignments, but I would have liked a little more information detailing why existing apps can't be used for assignments. Your goals and projections were related to the market as a whole, and I would have loved to have seen the goals and future plans specific to your company. Finally, you spent a huge amount of time detailing the "why", with lots of great information on why a product such as yours would be necessary, but it took a very long time to ever get to the "what" (your actual product) and I would have loved more information the heart of your venture; Scribe Right itself. Please don't take this comments negatively; I really think you did an excellent job here, and I enjoyed reading your reflections. It's dang hard work to create a venture and I can tell you spent a lot of time trying to do it right. Well done! (and let me know if you fix that Finance link!!)

Hi Ryan, I love your idea. It's such a relatable venture for many of us whose parents and grandparents struggle daily with tech. I can definitely see this venture making great progress toward improving the lives of those who've, until now, been largely ignored or improperly treated in the local Best Buys... I also enjoyed your casual professionalism throughout the venture pitch. To get to the nitty-gritty, you hit all of the most important facets of a good pitch. Your elevator pitch was concise at just about 1 minute, your anecdote served as a nice relatable hook, and clearly outlining the problem as well as your proposed solution. You even hit on your marketing strategy, your experience and competence as a leader, even the ask and return, all in 1 minute. I was initially perturbed by all the cuts in the elevator pitch, but soon realized it was evidence of you being ruthless in what content you chose to remove - a necessary skill - and the content that remained shined because of it. Well done. As for your venture pitch, it was also very impressive. I loved how it was all on one long page, Kickstarter style. Even a senior could easily navigate its clean design! You spend a long time outlining the problem, elaborating on the "why", which was great and highly detailed, although I would have preferred you started with more specifics on the "how" and then filled us in on the "why". Your infographic for the "how" was beautiful and detailed, and the idea to use paper-based plain language instructions is genius. As a champion of the venture, your background seems like a perfect fit and I would have no issues trusting you leading Olive Connect, although I hated the use of the term "Special Sauce"... ugh. I was impressed by your balanced management team. I was also impressed by how you chose to differentiate yourself - not a tech company, but educators looking to enhance digital literacy. Clever. That said I still wonder if others may encroach on this territory and what your plans are to counteract this. You clearly outlined the market for your product, and it was a genius idea to incorporate "Family Link". It is so clever from both a user perspective (letting those who know you best help you) and a business perspective (several family members using the app means more customers). Well done. I appreciated your detailed ideas for expansion, even including a potential pivot into software, although I was curious how long an investor would have to wait to see a return on their $500k investment. I also wondered what else that $500k could be used on besides software; certainly marketing costs money, and surely Best buy (or similar) aren't going to be advertising your services! Finally, great name, and cute pup. It reminds me of "extending an olive branch"; the service acts as a sort of peace offering to seniors after so many years of being seemingly ignored. It makes the company memorable. Fantastic work, Ryan. You've earned my 5 stars!

Hi, Kate! I would certainly like access to your site!

Hi Katie, and thanks for an enjoyable, well-written, and concise post! Dion seems to check all the boxes of a successful entrepreneur, and I have no problem recommending him as a strong role model for would-be entrepreneurs. It's impossible not to feel his motivation to create change, as shown through by his track record of keeping up-to-date with technology applications in education. He leverages his past experiences, and the accompanying wisdom gained, to create original products of significant social value (like the companies you mentioned above). By browsing the websites of the companies he has founded and seeing their "About Us" sections, it's clear that Dion has founded companies with very "human" values, and employees as well as customers are well-respected. Dion's ventures also tend to focus strongly on developing and nurturing communities, providing tools to users with which they can discuss with and learn from one another, or share their work for the benefit of all. The social value of each of Dion's ventures is clear by a simple visit to any of his company's websites. I think anyone, not just entrepreneurs, could benefit by studying Dion's approach to business ventures.

Thanks for the post, Kim! Emmie seems like a great role model for would-be entrepreneurs. First, she has clearly demonstrated motivation to create change through he Knowji app, and she's passionate about helping those who struggle with English. Second, Emmie personally struggled with English vocabulary before applying to grad school and witnessed first-hand the struggles of others in New York City who struggled with verbal development. Third, she found ways to solve her English "problem" through her own innovative methods, remixing tried-and-tested English-learning methods to leverage the modern, mobile tools of the 21st century. Lastly, as a first-generation American she had to actively pursue her goals and to chase opportunities when they arose, showing a willingness to dive into the great unknown for the potential benefit of not only herself and her family but the English-speaking world at large. Her story feels like an "underdog tale", and her successful company shows what can be accomplished when you explore a handful of original ideas along with a carefully-selected team.

Hi Philip, thanks for the post. Nick Winter's actions and ventures clearly demonstrate the primary motivation of entrepreneurs: to create change. He seems to have a keen eye for recognizing when an existing idea has the potential for added original value, or for a "remix". He recognized that the DS touch screen was a powerful tool for interacting naturally with a game. He then, taking inspiration from the concept of touchscreen drawing for virtual surgery, transformed or "remixed" the approach into a process of language learning. So simple in hindsight, but few had done the same at the time, or perhaps few had the courage to actively pursue their original idea. He extended this approach beyond Skritter, continually chasing opportunities, launching new ventures wherever he could spot a gap in the market. He had the wisdom to gather together plenty of smart people with "skin in the game" to run Skritter, yet had a personal exit strategy prepared which allowed him to focus on CodeCambat. The fact that Skritter is still active shows he chose well. Finally, he seems to have a thriving personal and professional network, having 500+ connections on LinkedIn alone. Judging by what he has accomplished by such a relatively young age, he stands as a solid role model for would-be entrepreneurs, especially in the area of coding and programming.

NO, I would not invest in this venture. PAIN POINT? The product has no clear pain point except to try and get students more engaged since they are already using mobile phones, but there are literally thousands of other ventures vying for this space. The other potential market gap they’re trying to address is what… “you need a new tee anyway”? Sorry, your T-shirt is ugly, expensive ($39 CAD), and most normal kids would probably feel dumb wearing it. I’m not convinced it’s worth it. SOLUTION? Even if I were to invest in this product, their solution is lacklustre. The T-shirt aspect is a simple gimmick for people who don’t understand how AR works; a black and white image printed on paper would be just as effective and perform equally well and I’d be (or parents would be) saving 40 dollars per child. In fact, printing the AR triggers onto paper and taping them to students’ existing t-shirts would probably go over just as well, or would probably even go over better than using the actual shirt because students would likely have a good laugh at it! DIFFERENTIATION? From where I’m standing this product lacks any discernible differentiation. I can’t see any teacher or parent buying it, except for the initial novelty factor, especially because alternatives abound - like paper. In fact, from an AR point of view this product seems woefully underpowered compared to the alternatives for teaching anatomy (which is the only AR application the pitch has touted). Hordes of fully-featured, continuously-supported AR and VR apps from larger teams already exist. Why choose this one? Because “we all need tees, right?” Again, sorry. I’m not swayed. MARKETING and CHAMPIONSHIP? I feel like perhaps I could have been swayed more positively if the champions of this venture were more likeable, but I didn’t “click” with the presenters nor their video editing. It seemed like this video was aimed at kids or at least K12 students, not the parents, adults, or other professionals who would be investing in the product. I mean, an immediate blooper at the beginning, and a whole blooper reel at the end? Give me a break; I enjoy YouTube/Twitch culture as much as the next guy but not when you’re trying to convince me to invest. Make a separate “Making Of” video if you’re that eager to show your human side. Finally, the video states that the app is free, but what about the hidden costs? T-shirt aside (40 dollars down the drain, remember), you need a phone/mobile to leverage their product. Not a huge deal, most people have one by now… but what about the children? If not, do you need a class set? Even so, half their pitch was promoting their app’s VR features. So now you need, at the very least, a cheap VR headset like Google Cardboard. That’s more cost there, from very little payoff. COMPETITION? If anything, students/parents/investors would get the headset and realize there are many more apps in the App/Play Store that are superior to the VirtualiTee app and migrate there. Unfortunately I just can’t see this venture working at all. The product is not strong enough; the market they’ve targeted is highly saturated; they’re banking on the T-shirt novelty to move their product; the inventors aren’t likeable enough nor do they seem competently experienced; their app is too basic and specific; and the novelty of the item will wear off after a lesson or two and all we have to show for it will be a silly T-shirt. NO, I would not invest in this venture. (I took a hard stance on this one, didn’t pull punches - channeling my inner “Dragon”!!!)