Morning today was a new experiment for TiECon – we realized that besides high profile keynotes, we need to bring in success stories than entrepreneurs can relate to.
Great session which managed to bring out both the logic and the passion behind startups! Deep Kalra (Makemytrip) moderated a great discussion with Avnish (ebay), Vishal (Indiagames), Shravan (Shringar cinemas), Ashish (Yo China) and Ajay (Sarovar hotels)!
Key observations
– great span of sectors – not just tech – shows that opportunities exist in every area
– young entrepreneurs continue to think big, and scale that ambition continually
– what business you get into is a mix of opportunity and passion
good stuff!
Latest posts by Alok Mittal (see all)
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Dear Sir/ma’am
I am a summer intern at CCS(Centre for Civil Society). My Project is to establish a business model for setting up of a small schoo in Indai, Lucrative enough to attract funds from private microfinance institutions and venture capitalists.
Your knowledge of this field shall prove beneficiary for my project.Please convey your views on the feasibility of private investments in schooling in India via email
Looking forward to your kind reply
Kind Regards
Mallika
Hi,
There is a huge void,inefficiency (according to Kanwal Rekhi), Need/want(Philip Kotler) in the education domain. With a billion plus population and very unorganized, opportunities exist for the persistent entrepreneur.
Companies perfroming exceedingly well here in US with unique models and whose business models can be emulated in INDIA are…
1)Blackboard Inc. (BBBB)
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http://www.blackboard.com
Blackboard has more than 3,000 licenses with 2,225 institutions, serving students from kindergarten through graduate school. The average licensee pays close to $29,000 a year, and customers are renewing at a rate north of 90%.
The firm is making inroads internationally and a commitment to translate its software into 8 languages by the end of this year.The company just bought its largest competitor, another small-cap company for $800 million.
It has IT products to:
* build online connections between campus groups,to personalize information and to conduct e-Commerce; support teaching, learning, research, archival, extracurricular, and departmental activities that require the central management, tagging, sharing, reuse of electronic files.
* on- and off-campus commerce, online e-commerce, meal plan administration, vending, laundry services, copy and print management, and student and staff identification; enables clients to establish an integrated student debit account program for charging incidental expenses, such as meals and academic materials
* enables students and faculty to use their university identification cards as a form of payment off-campus; help professors and students interact by sharing syllabi, homework assignments, grades, and cooperative research online.
2) LeapFrog Enterprises (NYSE: LF)
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Has a niche model with its electronic learning toys for toddlers to teens.
3) eCollege.com, Univ of Phoenix (Online Virtual University), and Aristotle Corp
(http://www.aristotlecorp.net) have very interesting revenue streams.
ICFAI in Hyderabad is working on the Univ of Phoenix model.
4)Electronic Whiteboards – An Exciting Growth Area
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Electronic whiteboards allow teachers to break the antiquated classroom model and make interactive learning an everyday habit. Market in US is growing at 25%
1 in 4 of educators use an electronic whiteboard for instruction, according to a recent study by Quality Education Data.
Some simply work as copy and capturing devices. Some of the more expensive models have computers and projectors built in. SMART Boards allow teachers to capture notes on the board, save them in a database and post the notes to a Web site. The boards also allow teachers and students to write on the board with special markers. Mimio and e-Beam manufacture attachable products that can turn blackboards and whiteboards into interactive boards
Example: In Overland Park, Kansas, which has 18,000 students and 29 schools, teachers are making use of about 40 to 50 interactive whiteboards
Alok,
As requested I am elaborating on what I think is interesting in education. I am going on Internet exile for the rest of 2005 so will not post, read email or this blog till 2006. All the best to everyone for 2006.
Please take my comments on education with a pinch of salt. I am very new to this area and some of these may not be suitable for new entrepreneurs
1. Supplemental education ( tutoring) globally and in India. US has an NCLB policy ( No Child left behind). In India the need has always been there but if there are some innovative ways to deliver high volume/low margin then it could be interesting. It seems content is now becoming more open. Google open library, MIT open courseware etc but the ability to deliver this content such that it can be digested by the student will require teachers
2. Corporate education especially in America it seems is being outsourced. It seems that the military and even NATO are spending a lot for good content and delivery
2. It seems higher education in India will be opened to the private sector as there is a huge demand supply gap and if one just looks at the number of Indian students who go overseas there could be an opportunity in providing higher education like University of Phoenix.
3. In the K-12 area helping schools do a better job seems to be the focus. As disposable incomes rise and with the Indian passion for education it would seem that parents may start demanding more quality schools and be willing to pay. With items like Sarva Shiksha etc. innovative delivery methods such as home schooling etc, may happen
In a nutshell it seems that the regulatory environment is becoming more benign. If you couple this with desire and ability to pay then you have a powerful set of drivers.
We are in the educational technology space and believe that “distance learning” is going to be one big industry. It has already been growing at more than 25%-30% here in the US. I believe that NOW is the time for it to be on steroids…following factors:
1. The users (students) form one of the most computer/Internet savvy audiences.
2. Everybody’s switching to broadband now.
3. Audio/Video technologies (Skype, WebEx) are reaching the mainstream audience.
I am excited 🙂
I did not attend the My Story sessions as I had another engagement but after that I did attend the “Entrepreneurial opportunities in Education session”. I think I was blown away by the immense potential that exists in this sector. The fact that Indians are passionate about education and that so many young people need to be educated is obvious. I for one had not connected the dots but after hearing the panel I think this sector could produce elephants.The CEO of Educomp spoke. This company is doing an IPO on Dec 19. Post money valuation will be around 200 crores ( $45 million). I am looking at it but as of now I am quite inclined to make a decent sized bet on the sector because I liked the CEO’s perspective on growth opportunities in the sector. I am also looking at an advisory relationship with one company in this space. All in all I may be wrong but I think education is going to big so for those who think the world begins and ends with IT think again. IT will however be the enabler for most interesting plays.