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Zoom Abroad

Matchmaking marketplace for Student & Universities

United Kingdom
Market: Education, training
Stage of the project: Operating business

Date of last change: 26.09.2019
Min investment
$  250.000
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Total required
$ 2.500.000
Rating
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Idea

FREE AI platform (web & app) which matchmakes international students from anywhere to the best-fit universities globally, saving them TIME and MONEY. By eliminating the middlemen (agents) it gives direct access to unbiased, transparent and comparable information and your probability of success.

On the other hand for Universities, it works as SaaS which pre-screens the eligible students enhancing the efficiency from average 2-months processing times to few seconds in application screening and admission process again saving them TIME & MONEY.

Current Status

The MVP is live and being used. Improvised AI version is planned to launch by end of Oct 2019.
Have 450+ Universities (transactional agreements) in over 20 countries.
Revenue: £73,000/ Approx $91,000
200+ placements (admissions) (53 contributing to revenue).
10,000 + active user profiles.
22 people team.
Raised £375,000/ $470,000 of seed money.

Market

As a market place we have 2 sets of users/ customers:
University: The Universities who are international and accept international students and there are about 28000 Universities globally, 4000 in the US only. Global market size of over $8 trillion with TAM: $4.99m; SAM: $223b and SOM: $8.54b just under Higher education.

Students: The larger users are students according to UNESCO, global tertiary education mark has 262 million students globally, and 8 million internationally mobile students each year. We are focussing on students from developing countries like India, China, Africa etc starting the focus from India and then growing to Indian subcontinent, MENA and China and Africa. This is in order of ease of entry to the market and highest contributor in international students.
One layer down focussing on international students for Bachelor's and Masters degree only till year 3 and then expanding to domestic students and other programmes.

Problem or Opportunity

From the past 5 decades or more students and especially international students (262 million University going students globally) have been relying on tedious, scattered and unstructured online research about the desired Universities, programmes (degrees) or countries which is time-consuming or almost impossible to find a best-fit university that can accept their profile out of 25000+ available options. or

International students (8 million students) normally turn to easy option to find an agent (middlemen) for the help who are mostly biased, expensive and can only provide limited options (almost like an old-school mortgage or travel broker), also students from smaller cities/ town don't even have this option.
Zoom Abroad will provide a one-stop solution which will match student's profile to the university they are eligible to and provide unbiased, transparent and comparable information to the students, at the same time the effective support service will help the student in the university application (essay writing, interview, etc) and visa processes.

On the other hand, Universities are struggling to find the right quality, quantity and diversity of students and moreover takes 2- 6 months in manually assessing and responding to applications from students which is inefficient and time-consuming costing the at least £140,000/ $175,000 pa.
Zoom Abroad matchmaker will be licenced as SaaS to partner universities to reduce the time and money spent on the recruitment process and make the admission decisions and offer letter sent in seconds.

Solution (product or service)

FREE AI platform (web & app) which matchmakes international students from anywhere to the best-fit universities globally, saving them TIME and MONEY. By eliminating the middlemen (agents) it gives direct access to unbiased, transparent and comparable information and your probability of success.

On the other hand for Universities, it works as SaaS which pre-screens the eligible students enhancing the efficiency from average 2-months processing times to few seconds in application screening and admission process again saving them TIME & MONEY.

Competitors

Although very few, Apply Board & School Apply are the direct competitors. The market share is negligible (>0.000001%) on a global scale. But that can change, thus speed is crucial.
We see momentum in this market with more funds floating on this domain.

Advantages or differentiators

Like Airbnb or any similar marketplace with 2 sets of strong stakeholders, this industry also can not work without serving and addressing the problems of both Universities and Students. Competitors have been only looking at the student's view ignoring the actual paying customer ie. Universities.
We have and we are creating a moat by having the maximum number of Serving both side of the equation: University partners and serving the industry as a whole including Universities, students and service providers, and by doing so we will be continuously acquiring data and the moat will grow much bigger as we grow.

Free for students: At the same time, competitors are looking at short term gain by charging students whereas our intention is to democratise the system and we are FREE for students.

Finance

It's a free platform/ service for students, but each student enrolled generates app $5050, whereas one university using SaaS generates $25,000/ annum.

We are estimating to generate $50m revenue in year 5.

Business model

1. The main revenue stream is charging success fee to the University, av 15% of the first-year tuition.
2. Affiliate commissions from Pre and post-arrival services for students, like: Accommodation (3 partners), Travel insurance (2 global partners), forex (2 global partners), Flight ticketing, Student loans (2 Indian bank partners), Telephone partners and many more.
3. Freemium model for support service in Top universities paying $600- $1500.-
4. Licencing income from Universities for SaaS for assessment and admissions, Enquiry chat bots, & Application screening and assessment.

Money will be spent on

25% Product development
25% Marketing
50% Operations and sales.

Offer for investor

We are currently raising £2m/$2.5m with £800k committed already. It's an opportunity to join in at the last seed stage we are raising at a PMV of £8m

Team or Management

Risks

Traditional brick and mortar agents could become the competitors in future when they realise that the industry is changing. These agents are the most impacted ones with this change.

Incubation/Acceleration programs accomplishment

No.

Won the competition and other awards

Voom 2019 Semifinalist.
Won quite a few Pitch competitions locally.

Photos

Photo 1 - Zoom Abroad
Photo 2 - Zoom Abroad
Photo 3 - Zoom Abroad
Photo 4 - Zoom Abroad
Photo 5 - Zoom Abroad

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address