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Algowork Pitch Deck
- 1. Bridging the gap between college and the workforce
- 2. Mission Statement At Algowork, our mission is to ensure no college graduate is ever stuck in a career they do not enjoy. AlgoWork
- 4. The Problem There is a disconnect between what college students experience in their major... AlgoWork ...and what they experience in their resulting career.
- 5. Value Proposition AlgoWork bridges the gap between college and the workforce by providing students with the opportunity to experience their field of study as a career. AlgoWork
- 6. Why Now • 51% regret their college education choices • 80% in their 20s want to change their careers • 36% would change their majors Jaison R. Abel and Richard Deitz Federal Reserve Bank of New York Staff Reports, no. 587 December 2012; revised December 2014 JEL classification: I21, J24, J31, R23
- 7. Community College (SF, Santa Cruz) CCA University of CA (Berkeley, Davis) SF State 40 STUDENTS (18-35) Students We Talked To AlgoWork 2 high school students
- 8. 3 Software Engineers 2 Architects Product Designer Student Advisor 18 PROFESSIONALS (ages 26-65) Product Designer Interior Designer Pharmacist Restaurant Manager Psychologist Graphic Designer Soccer Camp Owner Nurse Instructional Designer I T PersonLife coach Professionals Want To Mentor AlgoWork
- 10. College Students 123,000 $1.8 million Market Sizing AlgoWork source: IBISWorld Industry Report 62431
- 11. College Students Professionals High School Students 1.5 million $22.5 million $2.1 million 457,000 Market Sizing AlgoWork $1.8 million 123,000 source: IBISWorld Industry Report 62431
- 12. College Students Professionals High School Students 123,000 2.6 million 1.7 million 20.4 million 16 million 127 million 3.8 million 1.5 million $1.8 million $39 million $306 million $1,9 billion $240 million $22.5 million $57 million $25.5 million $2.1 million 457,000 source: IBISWorld Industry Report 62431
- 13. Committed Experiential Exploratory Theoretical Career counselors/coaches University Programs Service Year AlgoWork AlgoWork Competitive Landscape Internship
- 14. AlgoWorks uniqueness lies in its ability to provide students with a realistic experience of the jobs they can get with their major WHAT MAKES US UNIQUE ? Our Secret Sauce AlgoWork
- 15. Demo AlgoWork
- 16. Concierge
- 17. Pricing AlgoWork
- 18. Costs & Partners AlgoWork Partners $34,288 Total Monthly Costs(Our Gross Burn Rate) Activities Resources
- 19. AlgoWork Run Rate + Market Plan First 6 months Validate Markets & Concierge 6-11 months Wizard of Oz & Building 12-14 months Building & Alpha Launch 14-18 months Beta Launch With a seed amount of $620,000 -$205,728 -$171,440 -$102,864 -$137,152 +$7,000 +$84,000 Time Phase Cash Negative Cash Positive
- 20. Ask AlgoWork $620,000 Connections in Education Tech
- 21. Thank You Find us at: algowork.net facebook.com/algowork
- 22. Questions?
- 23. Appendix
- 25. Next Steps
- 26. Revenue We Need to Survive AlgoWork 1 University Subscription 2 Companies Hire Students 670 Student Experiences
- 27. Hans Tung EdTech Little Red Book Angela Bao EdTech Innovation Ventures Dave Evans Design Your Life Bill Burnett Design Your Life Future Board of Advisors
- 28. - Schools buy subscriptions for students - Students pay for a tour -Product Development -Product Management -Adding new career opportunities -Marketing -Developing partnerships with companies & university’s -Brand Strategy -Engineering -Office supplies -Lawyer Bridging the gap between college and the workforce by providing students with the opportunity to experience their field of study as a career. - College students - High school students - Parents - Schools - Universities -Companies -Colleges and Universities -WWS Hosting Space. -Intuit QUICKBOOKS. -SquareSpace. - Social Media Outreach - Quality Customer Support - Community Feedback - Friendly and Approachable - Relevant sites - Social media - Our Website - Career counselors - Career events - Universities - Student to student -Employee salaries -Marketing -Sales. 7. Key Partners 9. Cost Structure 5. Revenue Streams 2. Value Proposition 8. Key Resources 3. Channels 1. Customer Segments6. Key Activities 4.Customer Relationships BMC
- 29. ACTIVITIES $ 33,450 PARTNERS RESOURCES $418 Costs $34,288 Costs & Partners AlgoWork -Product Development -Product Management -Engineering -Employee salaries -Companies-Marketing -Developing partnerships with companies & university’s -Brand Strategy -Colleges and Universities -Intuit QUICKBOOKS. -SquareSpace. -WWS Hosting Space. -Office supplies -Sales -Marketing -Lawyer
- 30. AlgoWork Revenue Streams & Customers CUSTOMER SEGMENTS Revenue Streams CUSTOMER RELATIONS CHANNELS - Social Media Outreach - Quality Customer Support - Relavent sites - Social media - Our Website Students - Students pay per experience - Universities and Colleges pay subscriptions - Career events - Universities - Student to student - Career counselors - Community Feedback - Friendly and Approachable atmosphere Universities
- 31. College students Often it is difficult to know what sort of career your current major will afford you AlgoWork, Provides students with the opportunity to experience their current field of study as a one day shadowing experience Have Addresses Use The Problem The Solution The People Our Business Molecule AlgoWork
- 32. Landing Page
- 37. Funnel How many people saw the posts? 3014 Sign ups: 40 322 page views (how many people loaded page) 171 visits (how many unique visitors saw the content) 10.7% 53.1% 21% 5.7% 10.7% 3014 = 100% # OF PEOPLE 1.3% # TO % CONVERSION AlgoWork
- 39. Changing Page Design AlgoWork
- 41. Concierge
- 42. Customer Acquisition AlgoWork 3014 Reached 322 Page Views 171 Unique Visitors 40 Sign Ups for Alpha Test
- 43. Funnel AlgoWork Acquisition Activation Retention Revenue Referal How many people saw the posts? 2230 Double opt-in: 5 Sign ups: 13 176 page views (how many people loaded page) 101 visits (how many people saw the content) 7.9% 57.3% 12.8% 38.5% 4.5% 7.9% 2230 = 100% # of people 0.6% 0.2% # to % Conversion rate
- 44. TAM SAM SOM U.S. market potential: $8 billion (137 million people) California market potential: $180 million (3 million people) Bay Area market potential: $24 million (400,000 people) Market Sizing AlgoWork source: IBISWorld Industry Report 62431
- 45. School Work Skills you learn in school The Problem There is a disconnect between what college students experience in a major and what the resulting career is like Skills you need at work Very little overlap, a lot of missing information/experience AlgoWork
- 46. Costs AlgoWork
- 47. Costs- Activities $4,000 $5,000 $4,000 $5,000 Jennifer Ola Skylar Ridwan Customer ReachResearch DesignProject Management AlgoWork
- 48. Costs- Activities (monthly) Front End Dev $5,000 Back End Dev $5,000 Marketing Representative $4,000 Ads $1,000 Gas $250 Office Supplies $200 AlgoWork
- 49. Costs- Partners: AlgoWork Legal Fees $420 University Subscriptions Companies willing to give shadowing/tour opportunities
- 50. AlgoWork Revenue Streams CUSTOMER RELATIONS We offer transparent information We provide a meeting guide for the students CHANNELS - Article sites, social media platforms on web/mobile - Career counselors and career events - Universities and companies CUSTOMER SEGMENTS SOM: college students within the bay area SAM: college students across the U.S. TAM: college students, high school students, and professionals across the U.S. Revenue Streams Students pay per experience Universities and Colleges pay subscriptions VALUE PROP - Guidance for students before graduating - Hands-on experience - Holistic approach
- 51. 3014 Reached 322 Page Views 171 Unique Visitors 40 Sign Ups 1.3% Customer Acquisition AlgoWork
- 52. College students who like their majors Don’t always like the resulting career ? Students don’t know what skills their lacking for the work force From Our Research AlgoWork
- 53. AlgoWork Revenue Streams CUSTOMER SEGMENTS Revenue Streams CUSTOMER RELATIONS CHANNELS - Social Media Outreach - Quality Customer Support - Community Feedback - Friendly and Approachable atmosphere - Article sites, social media platforms on web/mobile - Career counselors and career events - Universities and companies SOM: Students & University's within the Bay Area SAM: College students & Universities across the U.S. TAM: College, and High School students, universities and professionals across the U.S. Students pay per experience Universities and Colleges pay subscriptions