Reinvent Education building on its core values: we turn knowledge into something cool through Augmented/Virtual Reality interaction and gamified experiences. No loss of know-how across generations.
We have already some working products of the Edtech solutions we can offer, leveraging the power of AR/VR interactive technologies combined with gamification to make the learning & training process more effective and engaging. We have Apps Freemium (for Junior and B2B) available in the stores, 4 AR/VR educational books multilingual targeted to kids and teens commercialized on-line and off-line, VR situational training for skills development already implemented and prototypes ready for customer care, labour safety, CPR. We have already some clients interested to both our Edtech solutions and B2B products (approx. 6 clients).
The market potential is huge and there is a big opportunity to disrupt. Globally, the Edtech market is estimated to reach $252billion in 2020 with a CAGR @17%, Europe is the 2nd largest Edtech market following NA. Also, the Global size of AR/VR market is very potential @ $18.8billion in 2020, expected to grow and reach $570billion in 2025 with CAGR @63%., with 2.5billion Global users of AR/VR (sources: Forbes/Allied Market Research/Statista). Our business model for B2C Edtech is targeted to a core of kids, teens and young adults; for B2B we target companies and institutions interested to step-change their training and recruiting procedures through interactive technologies, potentially operating in different sectors.
Problem or Opportunity
There is a clear need for better Education and Training, to reduce the distance between schools/universities and the real needs of the market, to increase the quality, the skills and happiness of students and workers, to avoid loss of know-how across generations. The opportunity is that to keep the cycle of knowledge connected and fluent across generations for a better society. Youth ask for more engaging and interactive learning processes, where they play an active role and are not just passively listening or reading. As they grow up, they look for learning and being able to choose their path more consciously, quickly adapting to changes and increasing their skills. As adult , they aspire to share back their know-how and passion to others while keeping up with times. The opportunity is big to answer those needs and aspiration through the power of AR/VR innovative, interactive applied technologies and gamified content, enabling learning by playing, higher memorability, more effective and efficient learning paths.
Solution (product or service)
Our solutions to the needs are that of turning knowledge into something cool thorough AR/VR and gamified experiences. For young generation, we have already developed educational books, origami cubes and in-App games, enriched with AR/VR interactive and gamified content, enjoyable through our Freemium Junior App with IAP on mobile devices and VR cardboards. For B2B, we can offer AR/VR simulations of work environments to train on skills required in real life, to discover talents and increase interest and ambition. We are developing prototypes of VR situational training for customer care, labour safety, CPR, fire safety, skills and career growth.
The AR/VR competitive environment is quite crowded. There are undoubtedly larger competitors and longer time in market globally, having raised already funding to expand. In the Edtech sector, main and closer competitors are Devar, Quivervision, Live Animation, ARS School. In the B2B area, we compete primarily with Realmore, Experenti on Entertainment solutions, with Bodyswaps, Portico and Talespin on VR training solutions.
Advantages or differentiators
Despite crowded competitive context, we believe our points of advantages and differentiation vs. key competitors are mainly a) our Publisher approach, with in-house development of publications and games enriched by AR/VR thus combining the tradition of paper book and gameboards with interactive digital content; b) our path to "work happiness" philosophy, enabled by gamification and active role of users; c) our embedded gamification approach to learn and live life with fun while playing.
We are in the process of reframing our financial plans to better reflect the new product developments. At the moment, our revenue streams come from annual subscriptions to the B2B App (€199,00/year for a personalized page in-App), from AR/VR content developed for B2B clients (prices depend on the type, complexity and level of interaction/animation of the AR/VR experience we develop in-house), from commercialization of AR/VR books through global marketplaces, our own online shop and offline (book prices vary according to the type, complexity, level of animation/interaction of the AR/VR contents - currently, ranging from €9,99 to €29,90 per unit). For 2020, we estimate a turnover of approx. €100K. Our cost structure covers people (in-house team of developers), infrastructures (office, HW, SW), marketing and commercial expenses. Our expectation is to be able to scale fast over the next 5 years: at the moment our start-up is totally self-funded, we need to obtain adequate funding from investors to be able to grow our team, marketing and R&S investments and expand our business more broadly.
Our business model is twofold. For B2C, we are Publisher with focus on Edtech, targeting kids, teens and young adults with our Junior Freemium App, AR/VR educational books and games, use of personalized cardboards to enjoy the VR content. For B2B, we target companies and institutions in different sectors with focus on training, events/entertainment and industry, with our B2B App SaaS, or development of White Label apps or WebAR solutions, and AR/VR/MX experiences targeted to their specific needs. Our existing Apps are available in the stores free to use for end users, while we sell our Edtech publications both on online and offline channels. Our key metrics for 2020 are approx. €100K revenues, 10K downloads, 7K web users and 21K web views monthly.
Money will be spent on
According to our roadmap, the money eventually raised with investors' funding will be used to consolidate our presence in Europe region and our business in Edtech and VR situational Training, including reinforcing our investments in R&D, marketing, commercial and team expansion. Depending on size of the funding we can start looking at global scale-up in the 2 years to come, focusing on B2B expansion and moving towards Mixed reality, R&D for Wearables and new Tech.
Offer for investor
We are open to offer an adequate share of the company according to the size of funding obtained. We prefer to deal with this during the meeting with investors we are looking forward and in the negotiation phase.
The main risks we can encounter for our business growth are related to a) presence of larger competitors longer in market; b) potentially high R&D expenses; c) educational system slow to embrace tech changes; d) lack of adequate investors' funding to expand our headcount, marketing, commercial, R&D investments and scale-up; d) limited number of commercial partners.
Incubation/Acceleration programs accomplishment
No, we have not yet accomplished an Incubation or Acceleration program.
Won the competition and other awards
Despite being a start-up funded in June 2018, we have received twice the "Seal of Excellence" award (April and June 2019 calls) by the European Commission in the context of the Horizon2020 program and the "Special Prize Ernst & Young" during the "Premio Marzotto 2019" for the quality and innovation of the Edtech products presented and for the strength and expertise of our team.