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InTeam - Careerchomp - Venture Lab Technology Entrepreneurship OAP 2013
Transcript of InTeam - Careerchomp - Venture Lab Technology Entrepreneurship OAP 2013
Career Planning & Personal Finance
Opportunity Analysis Project
Interviews - Survey: Redefining our product
Estimating the market size
Out of 7 billion people...
and 151 million are college students.
million students in total.
Approximately 67% of them have a computer and/or a smartphone with Internet access which means
million students can use our website.
694 million secondary and college students
million students with Internet access
88% thinks Career Planning & Personal Finance are important
for their future career
After talking with many students across the world, this is what we found out:
85% of the students would take free online courses on Career Planning & Personal Finance
61% have never taken Personal Finance courses.
After interviewing many students, we came to realize that we had to widen our customer base from 15-18 to
15 - 24
, as older students needed career advice, too.
One thing that helped us rethink some parameters was the fact that people would like to attend online classes in their language.
Customer Feedback made us realize that we needed to include more resources in our website like diagrams & charts but at the same time it validated the necessity of this startup.
So, how many students & how much money?
Careerchomp aims at providing free courses. What is more, according to the survey, 68% of the students would not be willing to pay for extra resources.
If this venture becomes successful and a great deal of students visit the website,
many universities, companies, educational institutes, banks as well as venture capitalists are bound to be interested in advertising their products through the website. There also might be governments interested in funding us.
What we also realised is that in order for this
website to succeed, it is important that we listen
to what every single customer has to say. If watching this presentation, raised any questions, we'd love to hear from you!
543 million are secondary school students...
70% feels that school courses are not enough to prepare them for the job market
68% would not be likely to pay for extra resources
Redefining our product
Most students don't want to pay for these online courses so we decided to have a "freemium" product.
We interviewed 25 people all over the world
We got another 41 people to take our
online survey (a total of 74 took our online surveys)
The smart education market is expected to increase from $73.8 billion in 2011 to
US market makes up 60% of current global online education revenue
Over 2012-2017 European and Asian markets are predicted to contribute nearly
to the online education industry
The overall growth rate for self-paced e-learning in Africa is 15.2% while Self-paced e-learning revenues in Africa reached US
What is more...
UNESCO Stats, 2010
ED Stats, 2010
Grunwald Associates, 2013