On 14th April 2015, I participated in Learn Lab’s Business Models in Education workshop at Binggo Cafe in Beijing.
About Learn Lab
Learn Lab is an accelerator, an entity that brings people with ideas (entrepreneurs) together with people looking to invest in ideas (angel investors). Through education-focused training and mentoring, Learn Lab’s aim is to accelerate early-stage education enterprises.
About Binggo Cafe
Binggo Cafe is a business incubator/cafe located on Zhongguancun Innoway in northern Beijing, that hosts entrepreneur talks and workshops and related networking events. Read more about Beijing’s Startup Kingdom, Zhongguancun here :
http://www.theworldofchinese.com/2015/05/startup-kingdom/
About the Host
This event was hosted by Allison Baum, Managing Director of Fresco Capital, and formely of General Assembly, who gave an audience of mostly Chinese education entrepreneurs-in-the-making an introduction to Business Models in Education.
About the Workshop
From the slides you will see there is a lot of educational technology potential in Asia, and specifically in China. Money is to be made from an educational start-up, but you need to have a good product, understand the market and have a solid business plan.
The Business Model Canvas
Customer relationships, customers, revenue, channels, key resources, costs, key partners, key activities and value proposition.
Challenges in Traditional Education
High fixed costs, inefficient infrastructure, limited access, differentiated learning styles, content development/relevance.
The Advantages of Technology
Increased access, increased efficiency, very low cost, personalised content, adaptive delivery, measurable outcomes.
Challenges in Technology
Sustainability, new business models, monetizing content, scaling quickly, long-term returns.
Examples of successful Education Tech Start-Ups