Online Education and Career Platform was established in early 2022 by serial EdTech entrepreneurs in the Philippines and Indonesia, who have a successful track record with 4 exits valued at over $300M
Since launching in January 2022 in the Philippines and Indonesia, Refocus has generated over $8.5 million in revenue and employed more than 380 individuals.
THIRD LARGEST 44.7 MILLION POPULATION at the age of 15 - 24 in the entire world (following only India and China). Young workforce fueling economic growth and pushing development of the middle class that will bring Indonesian economy to Top-10 by 2030.
THE THIRD LARGEST EDUCATION MARKET IN ASIA numbers over 45 million students and pupils. In 2021 total education market amounted to 80 billion$ with CAGR 10.3%. EDTECH MARKET estimated about 20 BILLION$ WITH CAGR 24.9%.
LACK OF IT SPECIALISTS to support Digital economy transformation. Every year 50,000 of IT students graduate from Indonesian universities while current annual demand on IT workforce is 600,000 (12x higher). Data Scientist, JS Dev, Back-end Dev, QA are among the most popular emerging jobs.
OVER 45% OF WORKFORCE ARE UNDER 30 YEARS OLD. Philippines has one of the youngest population on ASEAN, as well as a high population growth rate.
EDTECH EXPECTING RAPID GROWTH WITH CAGR 21.7%. Total education market is valued over 18 billion$, anticipated CAGR 12.2% till 2025.
HIGH GRADUATES UNEMPLOYMENT AND UNDEREMPLOYMENT RATE as a result of low quality higher education and skill mismatch. Official graduates unemployment is about 8%, total graduates underemployment is estimated near 20%.
IT IS THE MOST POPULAR AREA among emerging jobs: Data Scientist, Full Stack Engineer, Data Engineer, JS Developer, Cloud engineer are on the LinkedIn top list in 2021.
Problem or Opportunity
The mismatch between the skills that universities provide and the skills required in the IT industry leads to high unemployment rates for IT graduates. At the same time, IT companies are facing a shortage of qualified professionals to fill their open positions. This highlights the need for a more effective education platform that can provide students with the necessary practical skills to succeed in the IT industry.
Solution (product or service)
Refocus provides an 8-month program that focuses on imparting hands-on IT skills, requiring roughly 6 hours of study time each week. Upon completion, individuals can expect to secure employment in the IT industry with a starting salary of at least 1000 USD.
Our competitors are Bootcamps (Coursera, Udemy, EdX) and Moocs (Hacktive, Impact Byte, Coders Lab, ZUITT).
No wide audience No learning without quitting a job No prepayment system Check - $5000+
No quality control of educational videos No group learning (small % of completion = no value) Poor support Not job-oriented No career centre Nobody values their certificates Check - $100
Advantages or differentiators
No hiring gap Destination point: job in IT Student-oriented Practice-oriented knowledge Constant improvements based on feedback Customer support Motivational track We work with HR managers of big companies and hiring managers to prepare ready-to-job specialists
We charge $900 for our courses and provide 12 months installments so that every person can afford education. We receive the whole sum as full prepayment from a bank. Banks provide our students with installment plans at a fee ranging from 15% to 30% that we cover on our side.
We are gradually increasing the price, as well as adding more value to our products and building strong brand awareness on SEA markets.
We operate as B2C company. We charge $750+ for our course and provide 12 months installments, so that every person can afford education, and we receive the whole sum as full prepayment from a bank.
Money will be spent on
We are going to raise USD 10M in the next round
$4M For New Markets set-up and scale $3M For Performance Marketing & Brand marketing $2M For New Courses Production $1M For IT infrastructure