Wise deck
- 2. The Problem • Teachers and districts spend millions each year on testing • School districts pushing toward digital education • Need technological solutions to improve the overall effectiveness of assessments
- 3. The Market • 6.5 million teachers in the US • K-12 Education $700 billion industry in US, 2.2 trillion globally • $54 billion global test preparation market • Mobile testing is an open market
- 4. The First Product • Mobile test grading platform • Up to 100 question exams • State of the art question recognition technology • Digital Data and Reporting • Made by teachers for teachers
- 5. Competition • Scantron: Analog traditional testing • Grade Cam: Digital testing using computers + webcams • Quick Key: “Exit Ticket” Scanning (Quizzes)
- 6. Opportunity • 1.5% of the 6.5 million US teachers Millions • Subscription-based payment model Sales would bring $2million annual $60 $20 $0 • Licensing in bulk to departments, Year 1 schools and districts Year 2 Year 3 Year 4 Year 5 Year 3 Year 4 Year 5 Subscriptions Millions additional teachers, and $80 $40 revenue • The addition of test prep market, $100 3.50 3.00 2.50 2.00 1.50 international expansion greatly increases this number. 1.00 0.50 0.00 Year 1 Year 2
- 7. Traction • Over 700 downloads in 10 weeks • In-app purchase subscriptions validate payment model – showing near a 10% conversion rate • Bulk subscriptions by schools both domestic and international
- 8. Management Team • Lee Wise- Teacher and Cofounder • Dalton Ying- Teacher and Co- founder • Jon Shapiro- Ideas By Nature LLC and WISE COO • Phil Cowan- Lead developer and CEO of Ideas By Nature LLC
- 9. Investment to Date • Management team invested over $100K initial money and sweat equity • 2 years development and testing • 6 months beta testing in classrooms with teachers
- 10. Use of Proceeds • Seeking $500K for: – Development • Android • Gradebook Integration • Optimization • Patenting – Marketing • Social Media Ad Campaigns • Education Association Promotion • Ed Tech Conferences
- 11. Exit Strategy • Education company such as McGraw-Hill or Pearson • Test preparation company such as Kaplan • Grading company such as Scantron
- 12. Summary • $700B US Education Market • Seeking $500K for development and marketing • Subscription Pricing Model • Made by Teachers for Teachers www.thewiseapp.com Lee@thewiseapp.com Dalton@thewiseapp.com