Epignosis Description2

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  • 1. EPIGNOSIS ELEARNING PRODUCTS Athanasios Papagelis | papagel@efrontlearning.net
  • 2. The company
    • Epignosis is a greek startup that builds elearning tools
    • We work with open-technologies and offer elegant open-source solutions
    • We build solutions targeting an international audience
    • We aim at 1 st place on whatever we do
  • 3. Learning systems
    • Generation 1
      • Logistics of traditional learning
    • Generation 2
      • Simple learning, assessments
    • Generation 3 (today)
      • Skill-gap analysis, Social learning, Talent management, Compensation, Hiring process, …
    • Generation 4 (future)
      • Advance Personalize learning, …,
        • 21 st century’s grand challenging for Engineering
        • http://www.asme.org/NewsPublicPolicy/Newsletters/METoday/Articles/21st_Centurys_Grand.cfm
  • 4. Market
    • The LMS market is large and keeps growing (~15% per year)
    • The SME segment is particularly promising (~30% per year)
    LMS 2009 – Facts, Practical Analysis, Trends and Providers Profiles (Bersin & Associates)
  • 5. Opportunity
    • SME’s need a learning system that is:
      • Cost effective, offers fast implementation, small maintenance cost, all-in-one solution, vendor unlocked
      • Easy to use, intuitive, standards certified, multilingual, feature-rich, extensible, professionally supported
  • 6. Product
    • eFront
      • Tailored made to meet the needs of SMEs
        • Web 2.0 technologies and concepts
        • User-friendly, complete, cost-efficient, all-in-one,…
      • Mature
        • Users | Customers |Partners all around the world
        • Translated in 39 languages
        • Alternate finalist for Best Project for Academia [sourceforge.net]
        • Coverage on several web-mediums [webresourcedepot, techworld,…]
      • 4 editions
        • Community [Open-source community / Individual Trainees]
        • Educational [Educational Institutes]
        • Enterprise [SMEs]
        • EAS [Hosted Solution]
  • 7. Product
  • 8. Competition
    • High-end (e.g. SumTotal) or open-source (e.g. Moodle) do not sufficiently cater for the fast-growing SME market
    • eFront focuses on SMEs and educational institutes, covering their needs for a simple, cost-effective, complete product
    Open-source High-end e-Front Emphasis on user experience    Cost effective    Rich enterprise functionality    Not overly complex   
  • 9. Strategy
    • Use the community edition to:
      • Build awareness
      • Improve the product
      • Shape the roadmap
    • Build a network of partners around the globe
      • Sell vertical solutions and services
    • Improve all product editions through time BUT
      • Improve the paid editions in a faster pace
      • Offer better support for paid editions
  • 10. Distribution strategy
    • Products will be delivered through the internet & partners network
    • Potential customers will be reached:
      • via partners
      • through online marketing / advertisement
      • through world-of-mouth from users of community edition
      • from our web-site
  • 11. Partners
  • 12. Partners map
  • 13. Financials
    • We seek an initial investment of €1M
      • Intensify marketing effort
      • Grow sales team
      • Accelerate the implementation of product roadmap
      • Attract talented individuals
    • Break even after 24 months
    • >7M cumulative profit after 60 months
  • 14. Financials [2]
  • 15. Learn more
  • 16. APPENDIX
  • 17. Eco system
  • 18. Visitors .X visitors = Y interested users = Z clients .Indicative numbers: 1000 visitors = 100 users = 2 clients . Goal: Increase X, Improve Y, Z
  • 19. Management
    • EPIGNOSIS
      • Thanassis Papagelis, Founder & Director
      • Pericles Venakis, Technical Director
      • Georgios Kalfas, Sales Director
    • Virtual Trip Group
      • Dimitris Tsigos, CEO
      • Evangelos Zeginoglou, Business Development Director
      • Andrew Hughes, International Business Development Manager
      • Evangelos Kotsovinos, Chief Strategy Officer
  • 20. Customer Feedback on LMSs
  • 21. Financial estimates – detail
    • Estimates validated
      • Bottom-up
        • Get traffic from 8K/month to 130K/month in 4 years
        • Conversion rate: ~0,1%
        • New partner acquisition (>135 partners in 4 years)
        • Current statistics: 1 request /150 users
      • Top-down
        • Total addressable market size: ~$2.5B in 2014
        • We aim to capture ~0.45% of the LMS market until 2014
          • Predicted Sales for 5 th year $11M
  • 22. Partners Pipeline Company Country % Progress New Learning Norway 95 Innovista Germany 80 Samcruz India 75 Computrain US 70 Creando Training Sweden 60 Apan Muelt Consults Nigeria 60 Webhat Poland - Ukraine 50 EBS Turkey 50 Centre 4learning Pakistan 50 ARABD Saudi Arabia 50 ACP Singapore 50 UKS UAE 50
  • 23. Proposed investment
    • We seek an initial seed or round A investment of $1 million
    • The funds will be used to
      • Invest in R&D to maintain competitive edge
      • Boost customer acquisition and sales
      • Grow partners network
      • Build awareness/brand-name
  • 24. SWOT Analysis Strengths Market proven product Specialized editions for vertical markets Growing network of resellers Positive product buzz on the net Growing community Weaknesses Small penetration / Awareness Inadequate Marketing / Sales resources Opportunities Increasing Learning needs on growing economies Growing market / High Growth rate on SMEs Downturn economy suits eLearning Green economy suits eLearning Infrastructure improvements boosts eLearning Threats Competition Needs continuous product investment Big sales cycles
  • 25. Web-site Leads [1/2]
    • 595 leads
      • 153 leads since June 27th
      • 75 % ( 446 leads ) received from December '08 to September 10 2009                       
    • 22,6% Partnership related             
    • 77,4% Sale related         
    • M ore than 65 countries around the globe
    • Top 15 countries produces 60% of the sales leads           
  • 26. Web-site Leads [2/2] (15 major countries)
  • 27. The big picture learning blends with many enterprise processes
  • 28. The big picture LMS users – breakdown by industry
  • 29. The big picture Initial LMS cost for bigger corporations (acquire, install, customize) > 5000 learners
  • 30. The big picture Initial LMS cost for smaller corporations (acquire, install, customize)
  • 31. The big picture types of learning on enterprises (trends)
  • 32. The big picture segmentation of eLearning field
  • 33. The big picture Why organizations use LMSs
  • 34. The big picture Companies plans for the next 12 months
  • 35. The big picture eLearning trends
    • Social learning *
    • Personalization *
    • Mobile learning *
    • Rapid eLearning
    • Precise eLearning ROI measurement
    • Simulations
    • Serious games
    • Web 2.0 *
      • Collaboration tools, Aesthetic integrity, Desktop-like experience
    • Talent Management *