“The value of education is not the learning of many facts but the training of the mind to think.”

Albert Einstein

Service improvement conference 2018Designing new business models

curio.co

Dr David BowserFounder & CEO

db@curio.co

David Bowser

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Neuroscientist and consultant

Melbourne – PhD NeuroscienceCambridge – Chief Investigator and FellowMelbourne – A/Prof NeuroscienceNous Group – Principal, Education sector leader, Innovation practice lead, acting MDCurio – Founder and CEO

Our company profile Curio is an education consulting, learning design and platform development and hosting organisation established in 2016We seek to bring together the creative and curious for human improvement, driven through the power of education and research.

Making the Australian Financial Review’s Top 100 Fast Starters 2017,2018 list and awarded the Education Technology Leadership award at the 2017 World Education Congress, Curio works in education, technology and its related sectors.

We advise education providers, corporate L&D and research

organisations on their strategy and people.

We develop, host and maintain platforms and embrace technologies

that make education more efficacious and efficient.

We review curricula then design, develop and deliver learning

experiences through an understanding of how the human brain learns and

develops.

Strategy & people consulting Digital platforms & apps Learning transformation

Our company profileCurio also owns and operates three education start-up companies

• Opus (opusapp.co) is a tool for modelling and managing academic workloads across schools, faculties and universities.

• Palette (palette.curio.co) is a custom built storefront for CanvasLMS.

• Academy (academyed.co) is an outsource provider of higher education and corporate training for universities and companies under their brands and within their governance structures. Since establishment in late 2016, Academy has delivered 90 postgraduate courses to over 4,500 students with 60+ educators and trainers.

• Sessions (mysessions.co) is a marketplace for sessional academics and educators to find teaching and training opportunities. Established in early 2016 and re-launched in early 2018, Sessions has up to date profiles of 15,000 academics and subject matter experts.

• Digi-T.A.L. (digi-tal.education) is a not-for-profit platform for coordinating support and empowering students. Based on the “Team Around the Learner” approach, it recognises that students with special needs require an interdisciplinary team to maximise learning outcomes. DIGI-TAL

Our reason for being

We are scientists, advisors, philosophers, futurists, designers, and product developers who are shaping the future of organisations in three ways:

1. We collaborate with multiple organisations to co-create and design innovative business models, carry the idea through to co-design, and make the model a reality in the market.

2. We advise established organisations on strategy and people so they are ready when new players disrupt their industry.

3. We create our own products and services out of our own curiosity that meet real-world needs.

From advisory to platforms and service delivery

What do you want from the session today?

Designing new business models

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Agenda – Thursday 31st November

11:45am

1:00pm

What is a business model?

Business model canvas

Business model tools and frameworks

Design thinking / prototyping

Application in higher education

11:50am

12:10pm

Close

Empathy maps

Business model pitch12:40pm

What is a business model?

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A plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.

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Human centered design

Curio uses the human-centereddesign approach championed by the Stanford D.School across our platform development, consulting and education businesses.The approach means that we seek to deeply understand our users in order to to create a solution that is feasible, viable and above all desirable while balancing the needs to meet timelines.We understand that design is not a linear process and constantly iterate and re-visit the empathise stage when needed.

Divergent process with a focus on exploration and

research

Convergent process that tests the solution against existing process

Design and develop a prototype, test and

refine over and over again

Embed the platform intothe ways of working, learning and analytics

Discover Define Design Deliver

Source: UK design council

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Business Model Canvas

PRODUCT

GAINS

PAIN RELIEVERS

GAINS

NEEDS

PAINS

Value Proposition Customer need

Value proposition development

Persona

Name:

Age:

Job:

Location:

Education:

About

Thinks Feels Sees Does

Empathy map

WHO are we empathising with? What do they need to DO?

What do they need to SEE?

What do they SAY?

What do they DO?

What do they HEAR?What do they THINK and FEEL?

PAINS GAINS

The Business Model Canvas

Cost Structure• What are the most important costs inherent to our business model?• Which key resources are most expensive? • Which key activities are most expensive?

Key Partners• Who are our key

partners?• Who are our key

suppliers?• Which key resources

are we acquiring from our partners?

• Which key activities do partners perform?

Key Activities• What key activities do our

value propositions require?• Our distribution channels?• Customer relationships?• Revenue streams?

Key Resources• What key resources do our

value propositions require?• Our distribution channels?• Customer relationships?• Revenue streams

Customers• How do we get, keep and

grow customers?• Which customer

relationships have we established?

• How are they integrated with the rest of our business model?

• How costly are they?

Customer Relationships• How do we get, keep and

grow customers?• Which customer

relationships have we established?

• How are they integrated with the rest of our business model?

• How costly are they?

Channels• Through which channels do

our customer segments want to be reached?

Value Proposition• What value do we deliver

to the customer?• Which one of our

customers’ problems are we helping to solve?

• What bundles of products and services are we offering to each segment?

• Which customer needs are we satisfying?

• What is the minimum viable product?

Revenue Streams• For what value are our customers really willing to pay?• For what do they currently pay?• What is the revenue model?• What are the pricing tactics?

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Here

Problem: • Students need work experience• Universities don’t know how to

find them• Employers are interested but it is

all too hard.

Existing alts: • Individual academics negotiate

opps for their students• Students find their own opps

through family and friends• Ribit a free platform by Data61

for IT• Career lounge - no platform• Some industry bodies• Some govt departments.

Solution: • Make it easy for employers is

the hurdle• A way of compensating

employers ($ or other)• Universities can monitor and

assess student progression• Students get real experience

Metrics: • Number and FTE of

employers on the platform• Opps created • Opps filled

Unique VPStudents can find opps, manage applications, monitor achievement of learning outcomes.Employers can manage placement opps across their business on one platform.Institutions can moderate oppsand create opps that match employers needs and learning outcomes across many disciplines.High level conceptDomus = A job board for students with academic moderation.

Unfair advantage• Partner with a leading job

board• Knowledge and connections

in university engagement• Awareness of current

environment to support Domus.

Customer segments• Large internship providers

across all sectors• Large health, education orgs

that provide internships• Universities looking to lead

in WIL (below G8)• Students in professional

courses for internships and others for placements.

Channels• Online platform for opps• Brokering service for

employers and universities• Smartphone app for student

engagement and progress review.

Early adopters• Small tech companies• Agile universities

Monetisation model• Universities currently pay on a small scale for heath and

education placements from tuition fees and can from other courses with appropriate academic oversight and assessment.

• ~$2,500 per student subject (filled opp). Uni takes 20%. 15% in observers (casual academics). 15% dev. 10% marketing. 30% retained earnings.

Cost structure• Development cost, $0.5m. • Uni takes ~20%. Overheads and academic oversight. Includes one subject per course per student.• 15% in Domus . Casual academics or voc ed assessors (C4 TAE) from Sessions that can oversee student

progression remotely and be a partner for students on the job (4 hours per student plus 4 hours of assessment, $430. Each would look after 20 students).

• 10% on marketing and sales to employers and universities.• 5% corporate overhead.

Business model: Improved work integrated learning

Business model: Sessions (circa 2015)

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Short courses, intensives and immersive courses in research commercialisation and start-up science.

PRODUCT

GAINS

PAIN RELIEVERS

Program matches development cycleTeams matched to informed coaches/mentors

On-campus delivery with peersDedicated discipline programs1-day per week commitment

GAINSProgram fits into researchProgram is on campus, not offsite

NEEDSKnowledge of how to find/create a market; test, create a value proposition, and scale.

“I don’t know if there is a market for my research?”“Who can help me?”“I don’t know what I don’t know!”

PAINS

Value Proposition Customer need

Further sources

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