WHY are we here?
We believe that every child deserves a good education and we aim to achieve this vision through technology.
At ThinkBrainwave we aim to inspire children to see education differently, to see education as a means to a brighter future. We feel that innovating education will help the human race to evolve and adapt to future challenges. The current education system in most third world countries is outdated and the millennial generation requires a new, more technologically advanced education system that would assist each child at a personal level. Education has become exceptionally expensive and many family households can not afford to send their children for extra help. We want to fix this problem.
HOW do we do this?
We have developed a state of the art education platform which bridges the gap between the rich and the poor by helping millions of students. With a low starting budget we've managed to develop a system that connects students and tutors together. Students can access the platform from their mobile or computer devices. Tutors are able to tutor in person and through video chat creating a virtual learning experience. By partnering with some of the worlds largest mobile telecommunication companies, we aim to offer a data cost free user experience. Those students who otherwise would not have been able to use the platform due to data expenses will now have the freedom of accessing the platform free of charge. Tutors generate content for all students to use. New users can either signup as a tutor, parent or a student. Once a new account is set up, learning and earning can begin.
WHAT do we do?
ThinkBrainwave offers an easily accessible virtual platform where every child has the opportunity to learn for free with pre-recorded videos, written notes and tests. Artificial Intelligence(AI) pushes content to each student based on their personal needs to help provide a supportive base and assist the student to fully understand the concept that they are struggling with.
Students can ask questions via the Question and Answer(Q&A) window. All answers are verified by multiple tutors before answers go live.
Students can also join video group classes that are hosted by tutors. When a rural school teacher does not arrive for a lesson, students can rely on their tutor to help them.
For a more personal touch students can book a one-on-one tutoring session. Students can choose between a face-to-face or a video-to-video session. Students can choose the level of experience and quality of their tutor when booking their sessions on-demand.
All users have the opportunity to take courses offered by education institutions like colleges and universities that host online courses on this platform.
Novelty of the concept:
This concept utilises the best unique selling points of some of the top tech industry disruptors. ThinkBrainwave and the conceptual artists have listened to their customers by designing and developing an on-demand tutor booking system, an academic course repository, visual aspects such as pre-recorded video lessons and a social feed system. The broad structure is modelled around companies like: Uber, Coursera, Youtube and Facebook. It is a fun system to use with many academic benefits.
New tutors are verified when a successful interview is completed online and the tutor is rated at least four stars out of five stars and they are re-booked by the student. Students ensure that quality tutors stay on the platform through ratings and re-bookings which makes the experience organic. Tutors generate content and earn additional income from advert revenue. Tutors level up to level five from level zero through experience and engagement. Every new tutor starts at level zero as an unverified tutor. Tutors earn more per session when they level up. Higher level tutors are charged at a higher rate to students. This caters to the discerning customer and helps to price the service effectively. Economies of scale are applied because there will be many more level one tutors than level five tutors. At level 5, tutors can start charging for courses. When tutors reach level 5 the content on the tutor page will be large in number and of a high quality. Students rate content and the Artificial Intelligence deletes low quality content that is trumped by better quality videos according to likes and views. The Artificial Intelligence sends hints to each tutor’s notification panel with ideas for high demand topics. This information comes from student searches.
The global tutoring market($102.8 billion) is bigger than the entire social media industry($80 billion). Where the social media industry is dominated by large organised businesses such as Facebook and Instagram; the tutoring industry has no real industry leaders to note, besides Byju’s(>$1 billion). Byju’s focuses on animated pre-recorded video learning which places it into a similar but different derivative of the education industry. ThinkBrainwave aims to source funding for marketing and for research and development of the platform.
ThinkBrainwave listens closely to our customers and we develop solutions to problems that exist in the academic environment. The AI is being developed in an attempt to chase down the ideal of the singularity where we aim to develop an autonomous teaching AI that learns from the user generated content. With this type of thinking, we believe that ThinkBrainwave has a unique approach to extramural education.
ThinkBrainwave aims to hire thousands of tutors who use the platform to generate wealth through the sharing of knowledge. Millions of school students will now have access to academic resources where there were none before. Quality is controlled by a network of students. Each student has the means to comment on the quality of content by liking or disliking content based on the helpfulness and quality of each source of content that is generated by the tutors. It is important to note that rural areas and urban areas alike will now for the first time in history have the opportunity to learn at a higher level than that which they are currently receiving at their schools.
Synergy with our partners future and present:
Education is one of the major industries that we focus on disrupting. ThinkBrainwave has the technological concept that will disrupt this $200 billion industry. ThinkBrainwave requires data warehousing, a robust video streaming engine, the financial systems as well as web hosting to execute. Without strategic partners this operation will be very expensive to develop.
Artificial Intelligence(AI) is the technology that will carry the human race into the future if managed correctly and harnessed for its true potential in analytics, data mining and deep learning capabilities. ThinkBrainwave is working with DeepTek and Algoanalytics to develop an AI that will assist autonomous learning for any student. As long as a student has access to a smart device with an internet connection, they will be able to learn. ThinkBrainwave needs to synergise seamlessly with strategic partners to research and develop this AI with their current partners.
Advertising is one of the major revenue generators for the ThinkBrainwave platform. This advertising will be exposed to millions of users on a daily basis. Strategic partners can utilise this marketing avenue to target specific audiences based on the user’s age group and academic proficiency to push products and services as well as search for young talent to sponsor scholarships for future recruitment and social upliftment. We need to partner with strategic partners to gain access to the marketing channels within their corporate network to sell advertising.
Social responsibility is a major point of concern in the world and we aim to partner with good and honest companies to help alleviate poverty through education. Partnering with ThinkBrainwave would mean that our strategic partners have the power to influence millions of people. Together we will prepare customers for the job market where AI based technologies are swiftly taking over the job market. This will become a fundamental need for successful business enterprises that wish to increase the active consumer market cap. More education means more possibility for earning and productivity. This would mean that there would be more money in circulation and less poverty.
Size of Business:
Management is small as the current budget and revenue is small. The business is currently in its startup phase so a top heavy approach to business is not on our agenda. The management decisions are made by the CEO and owner, Roland Claven. Financial and accounting decisions are handled by the CFO, Mark Sclanders. Design and technical development decisions are handled by Jitendra Kunte. Artificial Intelligence decisions are handled by Aniruddha Pant and Ajit Patil from Algoanalytics and DeepTek respectively. Legal decisions are handled by Darran Ledden in South Africa and by Akshay Suryavanshi in India.
The business is bottom heavy, which means that fixed overheads are kept at a minimum as the financing of the company is currently limited and over expenditure is a risk factor. There are over 800 independent contractors(Tutors), these tutors are paid at a rate of 70% of the revenue generated for their tutoring activities. This keeps the variable expenses manageable and the business profitable.
The average household disposable income in India is $15 per month that could be contributed towards extra-mural education activities. The demand for an academic competitive advantage is high in any household. Students and parents alike want to achieve higher grades in an effort to set themselves up for future success. ThinkBrainwave will be offering a platform where academic exercises are available and this content will be free to the students. When students require a personal touch to assist with a concept they can easily request a tutor’s help.
Byju’s: USP_Animated video learning journey, 15% monthly growth, Raised $784 million
Khan academy: USP_pre-recorded video, Raised $10.2 million
UrbanPro: USP_1-on-1 tutoring, Raised $2 million
Udemy: USP_online courses, Raised $173 million
Embibe: USP_(AI) critical exam metrics, Raised $184 million, $250 million post money valuation
SimpliLearn: USP_online marketing training, Raised $27 million
Grovo: USP_corporate video training, Raised $15 million
Facebook: USP_social media, Raised $2.3 billion
Unique selling point:
ThinkBrainwave has created a social learning environment with on-demand 1-to-1 tutoring (face-to-face and video-to video). In later phases online courses, user generated content(UGC)(pre-recorded video), UGC notes, UGC tests will be developed and integrated with an AGILE approach. Artificial Intelligence analytics of test results will also be integrated with push functionality for relevant content, which is based on the areas where the student requires help
Revenue and Expenses:
30% commission of all Tutoring functions
50% commission on Advertisement Revenue
$1 per premium subscription(no adverts)
Revenue from when tutor promotes their profile
Subscription fees from universities and schools for hosting their courses online
Revenue from content downloaded for off platform use(encourages native use of platform)
Advertisement revenue from adverts on the UGC content.
The global market size was $102.8 billion in 2018 and is estimated to grow to $220 billion by 2022(Forbes). India has over 280 million registered students. ThinkBrainwave will continue to target South Africa during the roll-out phase to generate a guide book for launching in India during phase 2. The global student population will reach 2 billion by 2030. Revenue is targeted to be $110 million at the end of 5 years with a 10% profit margin.