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- 2. Coursera/Udacity for IIT JEEPrep 2 Online coaching for IIT JEE preparation Stage: Proof of Concept Contact: Meet Singhal Email: meetsinghal2000@gmail.com Mobile: +91 9968276344 City: Delhi
- 3. Product • Topic WiseSplit of Courses 3
- 4. Product 4 each topic split intolectureseach lecture split into discrete concepts
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- 6. Product Differentiators (vs otheronline platforms) 6 • Only platform to offer video lectures online, other platforms available on DVD/Tablets/USB Drives - immediately available, cheaper, improvements in product easy to pass on to existing user base • High quality video lectures • Interactive lectures with quizzes in between videos • Optimised for online channel 1. Lectures taught through small discrete concepts 2. Videos edited to eliminate any pauses to save time 3. Instead of impromptu lectures, well rehearsed and researched (stage show vs movie) 5. Efficient use of animation to convey difficult concepts 4. Use of technology to make lectures watchable/readable/beautiful on a computer screen 6. Available on all screen sizes
- 7. Product Differentiators (vs offlinecoaching centres) 7 • Orders of magnitude cheaper • Best quality teachers available to all students instead of select few in ‘top’ batches • Available anytime anywhere (in remote places) • Perfect for studying along with school education
- 8. Market 8 • Students spend$ 4,000 / 2 years at most coaching institutes • ~ 3 million students preparing for IIT JEE at any given time (1.3 million student gave JEE this year) • 0.5 billion $ market for IIT JEE coaching
- 9. Market 9 • 15 millionstudents prepare for competitive tests • 8 billion $ market for test prep in India
- 10. Funding Needs (~12month period) 10 S.No Item Cost Breakup Total Cost 1 Founder Salaries $ 3,300 * 12 $ 40,000 2 Employee Salaries $ 8,300 * 12 $ 100,000 3 Office Space $ 670 * 12 $ 8,000 4 Electronic Equipment 4 Laptops + 4 Wacom Tablets+ 2 Mic + 2 Cameras + 1 Set of Shooting Equipment $ 14,200 5 Physical Equipment (Chairs, Tables) $ 1,000 $ 1,000 6 Software (Adobe CC + Misc) $ 500 + $ 500 $ 1,000 7 Website Hosting $ 500 $ 500 8 Marketing Campaign $ 16,700 $ 16,700 9 Internet Marketing $ 16,700 $ 16,700 Total ~ $ 210,000
- 11. 11 Coaching Centres Test Prep MOOC Costly (2.5lakhs / 2years) Free / Low Cost Poor Quality of Teachers (Only top batches get the best teachers) Best Quality of Teachers available to each student None or poor availability in tier 2, 3 cities. Parents forced to send children to cram schools. Available anytime anywhere Learn at an average pace & learn only once Learn at your own pace and as many times as you like Education can be customised Education is pretty much standard Students forced to study No pressure on student - can drop off easily solve these through tech?
- 12. 12 Traditional MOOC Test Prep MOOC Competition from establishedplayers like Coursera/Udacity/edX Almost no competition Content lifecycle 5-6 years Content lifecycle almost infinite (IIT JEE syllabus has remained same for past 60 years) Employers interest in traditional University degree much more than technical skills (trust, experience etc.) Clearing a test only requires technical skills Every engineer had to once give an entrance exam, market size for test prep much bigger College courses span a semester Courses span 3 - 6 hours
- 13. 13 June’15 Aug’15 Oct’15Dec’15 Feb’16 Apr’16 July’15 Sep’15 Nov’15 Jan’16 Mar’16 May’16 Launch Algebra for Maths Hire interns/ employees for maths content Launch Android App Door to Door Marketing Launch Calculus for Maths, start work on Physics Launch Complete Syllabus for Maths Internet Marketing + start work on Chemistry Launch Mechanics for Physics Launch Waves & Thermal Physics + Stoichiometry for Chemistry Launch Complete Physics + Inorganic Chemistry Launch Complete Chemistry Timeline Test teacher marketplace revenue model Freemium Model
- 14. Exit Options • Acquisitionby online test prep platforms like Toppr/Embibe • Acquisition by established coaching centres like FIIT JEE/ VMC • Buyout from next round of investors 14
- 15. Revenue Options • TeacherMarketplace Model - get personal help if you pay - preferred model • Freemium - some courses free, other courses paid • Freemium - all courses free, pay for services like Test Series • Tie up with existing coaching centres to provide video content • Counsel students on what colleges to join and in process earn referral fees from Colleges (International & Domestic) • Franchise Model (offline coaching centres) - instead of regular teachers teaching done on a computer with online lectures. All class timings, course scheduling managed with mobile app. • Advertisements 15 online lectures will act as a catalyst in bringing students to the platform to fuel any of these revenue options
- 16. Assumptions • Internet inIndia has matured enough for people to study online • People will pay for content and services online 16
- 17. Risks • People won’ttake up on online teaching - we can still act as an add on to regular offline coaching model, - tier 2 or tier 3 cities don’t have good teachers, so they don’t have any other option • An established coaching center comes up with their own online content freely available - possible but unlikely. Their current efforts demonstrate their technical incompetence. Also they will be wary of cannibalising their existing business model 17
- 18. 18 Team Meet Singhal B.Tech +M.Tech, IIT Delhi 2 yrs at RBS as Analyst Vineeta Yadav B.Tech + M.Tech, IIT Roorkee 1 yrs at RBS as Analyst Content + Marketing Content
- 19. 19 Team Sahil Chachan B.Tech +M.Tech, IIT Delhi 2 yrs at Cognizant as Developer Harsh Tyagi B.Tech, IIT Delhi 2 yrs at Cognizant as Developer Lead Developer Developer + Marketing