Team 24 columbia univ jan 2014

Team 24Peter Bowley Supriya Jain Sophie Hutson Jiaqi Lu Farah Gasmi

Today: 2This week: 60

…formerly NEBSA

i-plyquantitative & qualitative integrity

BREAKDOWN OF INTERVIEWS

US admissions officers

Intnl students

Edu-consultants

Edu-experts/Verification services

Other

30 10 10 6 4

AndoverExeterKents HillHillside SchoolHoldernessMiss HallsWinchendonAdmiral FarragutBerkshireBrewsterMercersburgMiddlesexAshevilleBrimmer & MayBrooksCranbrook Schools

ChinaIndia IndonesiaSwitzerland

Educatious

OnCourse Global

3 China-based (IECA)

5 US-based

Klingenstein Center (TC)

Columbia Continuing Ed. Dept.

edX.org

Vericant

EdLab

ManhattanPrep

SchoolAdmin (CRM)

Oracle

Online-edu tech support

Educational policy expert

Online-ed for Chinese students

Anti-fraud service forboarding schools

Pivot

CS

CHCRRS

KAKPKR

Work-in-progress

VERICANT existing verification services

TODAY

OUR JOURNEY: Days 1-5

CS

CO

VP

CH

CRKA

RS

KR

KP

SETTING THE SCENE

Boarding Schools

Chinese Students & Parents

EducationalConsultants

Fraud control companies Internatio

nal Application Ecosystem

COMPETITIVE/CONTEXTUAL LANDSCAPE

i-ply

we’ve got all of the value propositions

…and all the customers

we’ve got ALL of the value propositions

…and ALL the customers

we’ve got all of the value propositions

…and all the customers

Online education

Anti-fraud

Edu-consultants

Chinese students

US admissions

Online education

Anti-fraud

Edu-consultants

Chinese students

US admissions

TM/CRM integration

identityauthentication

VERICANTMERCERSBURG

Chinese parents

OUR EARLYVANGELIST: a “bleeding out” small, independent school that has no $, no time, too many Chinese apps

DAY1

DAY2

Total no. of US independent schools: 1173

(=) Revenues from schools: $1.1M

Target: $4.5M

Total no. of International applicants: 200,000

(=) Revenues from applicants: $20MTAM:$21M

SAM:$13M

Target:$4.5M

TAM: $21M

(=) Revenues from non-top tier schools: $990,000

(=) Revenues from Chinese applicants: $12M

SAM: $13M

(x) $1000 registration fee per school

(x) $100 test fee per applicant

(x) 60% Chinese applicants

(x) 70% students refuse to take the test

(x) 90% non-top tier schools

(=) Actual revenues from Chinese applicants: $3.6M

MARKET SIZING

Key Partners Key Activities

Key Resources

Value Prop

Channels

Relationships Customer Segm.

Cost Structure Revenue Streams

Verified aptitude

Vetted applicants

Fraud reduction

Enhance child’s chance to enter schools

Application differentiation and visibility

Mercersburg

Uninformed Chinese Parents

DAY3

CHANNELS

Admissions officers

VERICANT

Chinese applicants

$100 application fee

$1500 per

app

season

$400 fee

CHANNELS

Admissions officers

VERICANT

Chinese applicants

$100 application fee

$1500 per

app

season

$400 fee

150 students

Should be $60, 000

30 students is only

$12,000

Time & energy

wasted in

TM/CRM

management

GET-KEEP-GROW FUNNEL- Mercersburg

Free trialNAIS/TABS certification

Reliability + accuracy

Industry standard network effect community building

Earned/paid media

GET-KEEP-GROW FUNNEL- Chinese parents

It’s all a #’s game

awarenessRequired by schools

CAC vs. LTV

CAC

LTV

$1000 (flat rate)(x) Years subscribed(x) # schools(x) (1-churn)

Free trialChannelsStrategic partnershipsInformation-provider

HOW DO WE MAKE $$$2nd+ 3rd tier boarding schools

Chinese parents

- Trust the recommendations TABS/NAIS/ top-tier boarding schools

-pricing makes all the difference

- We make our service seamlessly integrate into their existing CRM system we make their lives easier

- Willing to pay between $5000-$15000 for a service to make their child look better

- D > S - How do we prove

ourselves?

- How do we make ourselves known?

Bridge this gap by becoming:- Industry experts- Data/reports aggregators- Info creators/providers

HOW DO WE MAKE $$$

Is this just a 60-day business?

NO

The fee-based revenue model is most concentrated during app season

BUT

There’s a preparation phase, and an aspiration phase that spans the entire educational career of a Chinese student

educational loyalty cards?


Key Resources

Value Prop

Channels



Verified aptitude

Vetted applicants

Fraud reduction

Enhance child’s chance to enter schools

Application differentiation and visibilityit’s required!

Mercersburg


Phone callIn-person meetingNAIS/TABS/IEOCE

Get:Free; Self-serviceKeep:Proven reliabilityGrow:Industry std. + network effect

Annual subscription

Assessment feeRegistration feesLate fees / Report fees

Admissions teamsEdu. ConsultantsChinese schools

???

?

DAY4


Key Resources

Value Prop

Channels



Verified aptitude

Vetted applicants

Fraud reduction


it’s required!

Mercersburg


Phone callIn-person meetingNAIS/TABS/ IECA


Seasonal subscription


Admissions teams Edu. ConsultantsChinese schools

Get:Required Keep:It’s all #’s Grow:awareness

NAIS

TABS

IECA

maintain secure verification system

Marketing/selling

Content mngmt.

Tech licensing

Diagnostic content

software

Licensing, data storage, staffers, sales team

DAY5


Key Resources

Value Prop

Channels



Verified aptitude

Vetted applicants

Fraud reduction


it’s required!

Mercersburg


Phone callIn-person meetingNAIS/TABS/ IECA


Seasonal subscription


Admissions teams Edu. ConsultantsChinese schools

Get:Required Keep:It’s all #’s Grow:awareness

NAIS

TABS

IECA

maintain secure verification system

Marketing/selling

Content mngmt.

Tech licensing

Diagnostic content

software

Licensing, data storage, staffers, sales team

US schools

Application CRM

Educational consultants

students

i-ply

Applicant profile

Student profile

($) Reports

($) Identification authentication test

($) Identification authentication test

NEXT STEPS- it’s all about relationships