Evolution of a Full Stack Education Startup in India
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This document summarizes the evolution of IMAX, an education technology startup in India. It began in 2009 focusing on exam assessments and feedback, expanding to include workbooks, textbooks, and personalized worksheets. By 2013, it reached 60 schools across Andhra Pradesh. IMAX continued expanding its product offerings and school reach, partnering with fulfillment centers for distribution. Its current product focuses on a continuous learning cycle with daily assessments, a teacher tablet app, and parent app. The company's goals are to partner with 30,000 schools and impact 10 million students by building a full-stack, data-driven educational platform. Key learnings included the importance of product-market fit, iterative product development, and building a cross-functional team
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Evolution of a Full Stack Education Startup in India
- 1. Evolution of a Full-Stack Education Startup Yogi Kulkarni
- 3. “Full Stack”
- 4. “Full Stack”
- 5. “Full Stack” “Whole Product Solution”
- 8. Why Full Stack? • Essential to find product-market fit • Essential to scale • Full Stack => Platform
- 9. Kindergarten - Class 10 (K10) Education in India Current scenario What’s broken? What IMAX is doing
- 10. Current scenario
- 12. Largest School Ecosystem in the World
- 13. Largest School Ecosystem in the World ~250 million Students
- 14. Largest School Ecosystem in the World Govt School Students 150M Private School Students 100M ~250 million Students
- 15. ~1.3 million Schools Largest School Ecosystem in the World Govt School Students 150M Private School Students 100M ~250 million Students
- 16. Govt Schools 1M Private Schools 300K ~1.3 million Schools Largest School Ecosystem in the World Govt School Students 150M Private School Students 100M ~250 million Students
- 19. 300K Private Schools Higher End Private Schools 20,000 Govt Schools 1M Private Schools 300K
- 20. 300K Private Schools Market Size: ~ 120,000 Crores Higher End Private Schools 20,000 Govt Schools 1M Private Schools 300K
- 22. Affordable Private Schools • State Board Curriculum
- 23. Affordable Private Schools • State Board Curriculum • Fees: 10,000 - 15,000 per year
- 24. Affordable Private Schools • State Board Curriculum • Fees: 10,000 - 15,000 per year • Parent demographics (income, education)
- 25. Affordable Private Schools • State Board Curriculum • Fees: 10,000 - 15,000 per year • Parent demographics (income, education) • Poor infrastructure
- 26. Affordable Private Schools • State Board Curriculum • Fees: 10,000 - 15,000 per year • Parent demographics (income, education) • Poor infrastructure • Teacher quality
- 27. What’s broken?
- 28. Excessive focus on exam marks vs Learning
- 29. Teachers “gaming” examinations and marks
- 30. Stakeholder incentives not aligned Promoter Teachers Parents Students Publishers
- 34. What’s Really Broken? “Blackbox” of exam marks Teach Assess Evaluate Feedback
- 35. What’s Really Broken? XBroken feedback loop “Blackbox” of exam marks Teach Assess Evaluate Feedback
- 36. What’s Needed? Teach Assess EvaluateRemedy Learning Cycle Granular Feedback
- 37. What’s Possible?
- 38. What’s Possible? • Frequent closed loop learning cycles
- 39. What’s Possible? • Frequent closed loop learning cycles • Focus on mastery of concepts
- 40. What’s Possible? • Frequent closed loop learning cycles • Focus on mastery of concepts • Self-paced
- 41. What’s Possible? • Frequent closed loop learning cycles • Focus on mastery of concepts • Self-paced • Content-delivery matching student’s learning style
- 42. “One Classroom Per Child” Pen & paper based personalised education
- 43. What IMAX is doing
- 44. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback
- 45. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training
- 46. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training Question Papers
- 47. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training Question Papers Answer Keys
- 48. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training Question Papers Personalised Feedback Sheets Answer Keys
- 49. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training Question Papers Personalised Feedback Sheets Personalised Worksheets Answer Keys
- 50. Current IMAX Product Learning Cycle Teach Assess EvaluateRemedy Feedback Textbooks, Workbooks, Teacher Training Question Papers Personalised Feedback Sheets Personalised Worksheets Answer Keys ~Rs.1,500 per student per year
- 52. Story so far
- 53. Story so far V0: Impact evaluation V3: Accelerate V4: ? 2009 2013 2014 2017 2018 2016 2015 2012 2010 V1: Xamcheck V2: IMAX V2.2 V2.3
- 54. Story so far V0: Impact evaluation V3: Accelerate V4: ? 2009 2013 2014 2017 2018 2016 2015 2012 2010 V1: Xamcheck V2: IMAX V2.2 V2.3 800 15 Schools 200 60 300,000 students Rs.30 crore revenue
- 55. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010
- 56. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • 15 schools • Andhra Pradesh • Product: • Exams + Feedback • Challenges: • Sales growth • Technology • Excel macros :-)
- 57. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • 60 schools • Andhra Pradesh • Product: • Exams + Feedback + Workbooks • Funding • $1.8 million (Aspada) • Technology • Python-based microservices
- 58. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2.1: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • 200 schools • Andhra Pradesh, Telangana • Product: • Exams + Feedback + Workbooks + Textbooks + Teacher Manuals + Personalised Worksheets • Supply Chain • 8 Fulfillment Centers • Operations team V2: IMAX
- 59. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2.2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • 800 schools • Andhra Pradesh, Telangana, Maharashtra, Karnataka, Tamil Nadu • Sales & Service integration • Technology scale-up • 20 Fulfillment Centers V2: IMAX V2.1: IMAX
- 60. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2.2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • 1300 schools • New Product Development: • Continuous learning cycle • Teacher tablet • Parent app V2: IMAX V2.1: IMAX
- 61. Continuous Learning Cycle Teach Assess EvaluateRemedy From: 2 to 6 times a year => To: Every day Feedback
- 63. Teacher App
- 64. Teacher App
- 65. Teacher App
- 66. Teacher App
- 68. Parent App
- 69. Parent App
- 70. Parent App
- 71. Parent App
- 72. 2009 2013 2014 2017 V0: Impact evaluation V1: Xamcheck V2.2: IMAX V3: Accelerate 2018 V4: ? 2016 2015 2012 2010 • Reach: • (5 year goal): • 30,000 schools • 10 million students • New Product Development: • Adopt-a-school? • Deeper ecosystem partnerships? V2: IMAX V2.1: IMAX
- 73. Learnings
- 74. Full Stack Solutions • Essential to find product-market fit • Essential to scale • Full Stack => Platform
- 75. Learnings
- 76. Learnings • Data is the building block for products
- 77. Learnings • Data is the building block for products • Iterate product before scaling sales
- 78. Learnings • Data is the building block for products • Iterate product before scaling sales • Build cross-functional team early • Domain-expertise • Product, Design, Technology (Software, Hardware) • Sales • Operations • Data Science