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Evolution of a Full-Stack Education Startup
Yogi Kulkarni
“Full Stack”
“Full Stack”
“Full Stack”
“Whole Product Solution”
Why Full Stack?
Why Full Stack?
• Essential to find product-market fit
• Essential to scale
• Full Stack => Platform
Kindergarten - Class 10 (K10) Education in India
Current scenario
What’s broken?
What IMAX is doing
Current scenario
Largest School Ecosystem in the World
Largest School Ecosystem in the World
~250 million Students
Largest School Ecosystem in the World
Govt SchoolStudents
150M
Private SchoolStudents
100M
~250 million Students
~1.3 million Schools
Largest School Ecosystem in the World
Govt SchoolStudents
150M
Private SchoolStudents
100M
~250 million Students
Govt Schools1M
Private Schools300K
~1.3 million Schools
Largest School Ecosystem in the World
Govt SchoolStudents
150M
Private SchoolStudents
100M
~250 million Students
300K Private Schools
300K Private SchoolsHigher End Private Schools
20,000
Govt Schools1M
Private Schools300K
300K Private Schools
Market Size: ~ 120,000 Crores
Higher End Private Schools20,000
Govt Schools1M
Private Schools300K
Affordable Private Schools
Affordable Private Schools
• State Board Curriculum
Affordable Private Schools
• State Board Curriculum
• Fees: 10,000 - 15,000 per year
Affordable Private Schools
• State Board Curriculum
• Fees: 10,000 - 15,000 per year
• Parent demographics (income, education)
Affordable Private Schools
• State Board Curriculum
• Fees: 10,000 - 15,000 per year
• Parent demographics (income, education)
• Poor infrastructure
Affordable Private Schools
• State Board Curriculum
• Fees: 10,000 - 15,000 per year
• Parent demographics (income, education)
• Poor infrastructure
• Teacher quality
What’s broken?
Excessive focus on exam marks vs
Learning
Teachers “gaming” examinations and marks
Stakeholder incentives not aligned Promoter Teachers Parents Students
Publishers
What’s Really Broken?
What’s Really Broken?Teach
Assess
Evaluate
Feedback
What’s Really Broken?
“Blackbox” of exam marks
Teach
Assess
Evaluate
Feedback
What’s Really Broken?
XBroken feedback loop
“Blackbox” of exam marks
Teach
Assess
Evaluate
Feedback
What’s Needed?Teach Assess
EvaluateRemedyLearning Cycle
GranularFeedback
What’s Possible?
What’s Possible?
• Frequent closed loop learning cycles
What’s Possible?
• Frequent closed loop learning cycles
• Focus on mastery of concepts
What’s Possible?
• Frequent closed loop learning cycles
• Focus on mastery of concepts
• Self-paced
What’s Possible?
• Frequent closed loop learning cycles
• Focus on mastery of concepts
• Self-paced
• Content-delivery matching student’s learning style
“One Classroom Per Child”Pen & paper based personalised education
What IMAX is doing
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher Training
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher TrainingQuestionPapers
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher TrainingQuestionPapers
Answer Keys
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher TrainingQuestionPapers
Personalised Feedback Sheets
Answer Keys
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher TrainingQuestionPapers
Personalised Feedback Sheets
Personalised Worksheets
Answer Keys
Current IMAX Product
Learning Cycle
Teach Assess
EvaluateRemedy
Feedback
Textbooks,Workbooks,
Teacher TrainingQuestionPapers
Personalised Feedback Sheets
Personalised Worksheets
Answer Keys
~Rs.1,500 per student
per year
Story so far
Story so farV0: Impact evaluation
V3: AccelerateV4: ?
2009
20132014
20172018
20162015
20122010
V1: XamcheckV2: IMAX
V2.2V2.3
Story so farV0: Impact evaluation
V3: AccelerateV4: ?
2009
20132014
20172018
20162015
20122010
V1: XamcheckV2: IMAX
V2.2V2.3 800
15 Schools
20060
300,000 studentsRs.30 crore revenue
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2: IMAX
V3: Accelerate
2018 V4: ?
20162015
20122010
2009
20132014
2017
V0: Impact evaluation
V1: XamcheckV2: IMAX
V3: Accelerate
2018 V4: ?
20162015
20122010
• Reach:• 15 schools • Andhra Pradesh
• Product:• Exams + Feedback
• Challenges:• Sales growth
• Technology • Excel macros :-)
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2: IMAX
V3: Accelerate
2018 V4: ?
20162015
20122010
• Reach:• 60 schools • Andhra Pradesh
• Product:• Exams + Feedback
+ Workbooks
• Funding• $1.8 million (Aspada)
• Technology • Python-based microservices
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2.1: IMAX
V3: Accelerate
2018 V4: ?
20162015
20122010
• Reach:• 200 schools • Andhra Pradesh, Telangana
• Product:• Exams + Feedback + Workbooks
+ Textbooks + Teacher Manuals + Personalised Worksheets
• Supply Chain• 8 Fulfillment Centers• Operations team
V2: IMAX
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2.2: IMAXV3: Accelerate
2018 V4: ?
20162015
20122010
• Reach:• 800 schools • Andhra Pradesh, Telangana,
Maharashtra, Karnataka, Tamil Nadu
• Sales & Service integration
• Technology scale-up
• 20 Fulfillment Centers
V2: IMAX
V2.1: IMAX
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2.2: IMAX
V3: Accelerate2018 V4: ?
20162015
20122010
• Reach:• 1300 schools
• New Product Development:• Continuous learning cycle• Teacher tablet• Parent app
V2: IMAXV2.1: IMAX
Continuous Learning Cycle Teach Assess
EvaluateRemedy
From: 2 to 6 times a year=>
To: Every day
Feedback
Teacher App
Teacher App
Teacher App
Teacher App
Parent App
Parent App
Parent App
Parent App
2009
20132014
2017
V0: Impact evaluation
V1: Xamcheck
V2.2: IMAX
V3: Accelerate
2018 V4: ?
20162015
20122010
• Reach:• (5 year goal):
• 30,000 schools • 10 million students
• New Product Development:• Adopt-a-school?• Deeper ecosystem partnerships?
V2: IMAXV2.1: IMAX
Learnings
Full Stack Solutions
• Essential to find product-market fit
• Essential to scale
• Full Stack => Platform
Learnings
Learnings• Data is the building block for products
Learnings• Data is the building block for products
• Iterate product before scaling sales
Learnings• Data is the building block for products
• Iterate product before scaling sales
• Build cross-functional team early• Domain-expertise• Product, Design, Technology (Software, Hardware)• Sales• Operations• Data Science
Thank you! [email protected]