Business Models in Education - MaRS Best Practices
Students are redefining education by taking more ownership of their learning. Technology has enabled a new way of learning and teaching, and has created new economics. Yet much of the education sector is still focused on the model from the last century. The current trends have thrown wide open the gates of the next generation of education – changing the landscape and creating opportunity. Innovators, educators and “edu-preneurs” alike need to be aware of the direction in which the North American market is moving if they want to stay ahead of the curve. Join us for the second of our three-part Best Practices Education Innovation Series, where MaRS EdTech advisors and entrepreneurs, Aron Solomon and Krista Jones, will discuss emerging business models in education from the context of how education services are being offered and taken to market. Aron and Krista will place particular emphasis on the following: -SaaS -Free and freemium -MOOCs/online learning -Content/pedagogy-based learning This discussion is especially applicable for post-K-12 service providers (i.e., educators, innovators, “edu-preneurs”) and those who are already in the EdTech space and seeking to better understand and master the North American education environment.
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Business Models in Education - MaRS Best Practices
- 1. Confidential – not for distribution! BUSINESS MODELS IN EDUCATION! ! Aron Solomon & Krista Jones! !
- 3. Why MaRS? B2C! Learner! Parent! Sometimes Teacher! Very Short! Viral! ! Often Un-facilitated! (use may work in isolation)! WHO PAYS?! SALES CYCLE! FEATURES!
- 4. Why MaRS? B2B! WHO PAYS?! Business or Institution! SALES CYCLE! Loooooong! School boards up to 36 months! ! FEATURES! SaaS (based upon LMS)! Value driven!
- 5. Why MaRS? B2B2C! WHO PAYS?! Business & End User! SALES CYCLE! Long! The B2C piece can accelerate the sale when C demands from B.! FEATURES! 2 sets (both users)! Allows end users of your product to know your brand when you won t have contact with them !
- 6. ALTERNATIVE MODELS! MOOCS (Coursera, edX, Udacity) ! Virtual / in person degree (Minerva Project)! • Un-certain business models! • Users aren’t paying so who is?! • Accreditation? Badging?! ! Skills based (Code Academy, Udemy)! ! • More certain business models! • Users pay! • Accreditation is by the vendor! !
- 7. Why MaRS? Business model: ! !Uncertain! Investment: ! ! !$40M! Monetization strategy: !Uncertain! ! ! ! !In 2013 withdrew from all RFPs!
- 8. Why MaRS? Business model: ! !B2C, B2B, potentially B2B2C! ! Investment: ! ! !$85M! Monetization strategy: !Highly uncertain!
- 9. Why MaRS? Business model: ! !B2B and B2B2C! ! Investment: ! ! !$105M! Monetization strategy: !Solid!
- 10. Why MaRS? Business model: ! !B2B! ! Investment: ! ! !$10M! Monetization strategy: !Solid!
- 11. Why MaRS? Business model: ! !B2C! ! Investment: ! ! !$103M! Monetization strategy: !Solid! ! ! ! !Profitable and operated 17 years ! ! ! ! !before raising first round! !
- 12. Why MaRS? Business model: ! !B2B! ! Investment: ! ! !$39M! Monetization strategy: !Solid!
- 13. Work Learning example here! @AronSolomon & @KJsaysthis