This is a pretty impressive pitch. I really like the concept, and it seems you have etched (forgive the pun) out a niche within the note taking industry. Your visuals are really well done, and seem like the layout and design came from years of experience. Nice work!
I would invest in this application if I knew it was ready to release tomorrow. With tablets going mainstream, and devices like the Surface and iPad Pro moving off shelves, the time is now to get a good note taking application on the market. I would not feel as confident if you were to tell me that we had to wait a year to release this app, as the trends indicate a move into VR may stymie the long term growth of such an app.
When it comes to your revenue stream, you are hitting a great option. Having the Freemium model on this is exactly what would be needed to gain users and build a community of note takers. I would suggest some social features (such as note sharing between students) could also lead to greater conversion to the paid version (lazy students will pay anything for easy outs).
There are a couple areas which concern me though. One is that of this application targeting a more traditional format of teaching (lecture and notes), and while I can see it applied in a more broad context, I would ensure through the pitch that these other niches are highlighted. I also am cautious about Notepound not reflecting the future screen: We likely will be going smaller (phones) and VR, neither of which would necessarily be strong for Notepound.
In summary, a super strong pitch that if realized today would be a good investment. Two years of development may sour that idea, as we are in fast changing times.