Please follow the link below to view my elevator pitch and venture pitch.
EduTrip VR is the solution to making virtual reality learning experiences widely available in Canadian classrooms for grades 5-9! We enable classrooms to take part in VR experiences without the staggering upfront expense of purchasing VR equipment.
https://sites.google.com/view/edutrip-vr/home
FEEDBACK: The idea is compelling and the presentation is very well-done. The opportunity VR provides for school students to go places and live experiences they otherwise could not, such as visiting the Louvre, is indeed revolutionary. However, as an EVA, I do not think this is a very lucrative investment opportunity.
Hi Safaa,
I think that if you take a look at the financials that I posted you will see that it is poised to have a very reasonable return on the initial investment within an acceptable timeframe. I think it is actually quite a safe choice from an investment standpoint.
FEEDBACK: I really like the delivery aspect to make VR accessible and the resources to support teachers in building capacity in transitioning to effective independent use. It’s a clearly identified solution to key barriers to VR. The detailed financials and investment breakdown make it clear that you have a strong understanding of the different variables that go into calculating a reasonable return. I would love to try this out with a class!
Review: Hi Katie, Amazing product! I really liked how well you proposed this service from a business standpoint – including your 4 year financial plan. I think a lot of stake holders would be interested in getting VR in schools but (and indeed you point this out in your proposal) teachers do not have the time, resources and expertise to spearhead this new educational opportunity. In my view, an external firm like the one you proposed is a very viable business model. With the right marketing and word of mouth, I think EduTripVR would become a staple partner in the Metro Vancouver market. The only feedback for improvement that I would suggest, is to perhaps reword the “Risks and competition” section to make it sound more like a ‘win’ for your product by calling them ‘problems and solutions’. A very minor thing. In that vein, it would also be useful to explicitly include what it is about your service that distinguishes it from the competitors. Overall, very well done!
Hi Sage,
Thanks so much for your feedback! I really appreciate your advice to rename that section to have a more positive tone. I’m glad that you see this as a viable business model!
REVIEW: Hello, Katie, I loved EduTrip VR, and its market assessment and analysis of market competitors were excellent. My suggestion to encourage and stimulate investors would be related to the topics for K-12 students. In other words, it is establishing a class program that solves problems and bottlenecks of investing companies in addition to the traditional class program. For instance, a technology company that supports such issues as mathematics and history with the evolution generated by games and forms of digital interaction.
Investors’ interest is a fast track for your company.
Great project!
FEEDBACK: Hello Katie! I really enjoyed your EduTrip Vr venture pitch! Before the ETEC 522 course OERs, I didn’t know much bout VR, but as I’ve gone along in the course I have recognized how much potential it has in education, and that thought of mine was further pushed in the right direction as I watched your elevator pitch and went through your venture pitch. Students will be able to have fun and educationally engaging experiences through EduTrip VR. Great Work!
Hi Katie,
It looks like we both saw the same need of finding a solution to bringing VR into the classroom. The problem you identified is valid and is a current reality in schools. I think you can easily expand your target audience from grades 5-9, to K-12. This in turn would also increase revenue as your audience now more than doubles instantly. The $400,000 ask seems quite high, considering you are starting with just 1 class set of headsets however, you did a good job at laying out a 4-year plan on how your spending will be distributed. Nice work!
Comment = FEEDBACK
It is a significant upfront investment because the VR experiences would need to be developed during that first year. The cost is less about the headsets and more about developing original content in the first 2 years so that we have room to expand in the following two years.
Review/Feedback: Great video pitch, the graphics were stunning and the message very convincing. I also appreciated that you stated the problems at the onset, to ensure you could show you had solutions for those problems. Your financials were also very well thought-out and thorough. You shared an incredibly thorough market analysis and competitive analysis. I can see if I invest I would have a high ROI almost immediately. The value is clear, I would definitely invest in this. Great pitch!
Hey Katie,
REVIEW: Thanks for the great pitch! VR is definitely a vital instrument in the implementation of future classrooms and, as an administrator, I love the idea of being able to bring sets into the school and not having to pay costly fee of purchasing them as they are still quite expensive. I did have some questions for you though: do you really think that a one to one ratio of devices is feasible? It just seems like so much overhead cost when students could pair up and go to a 1 to 2 or 1 to 3 ratio and still get the same virtual experience, while you would save some money. Also, when I was looking through your costs, I didn’t see any costs for delivery employees; is everything couriered to the schools? Also, who does the Tech support or fixes for the VR headsets themselves? There doesn’t seem to be any employee that is link to this and it seems like a pretty important partas you want to make sure everything is running smoothly. I would definitely invest in this venture, but would like to delve deeper into some of the numbers and make sure the infrastructure is there before expanding too far.
Thanks Katie!
Hi Greg,
Thank for your great questions. Here is my rationale for why I made these decisions but I am very open to changing some parts of this, especially the ratio of headsets to students. I agree that it would be possible to implement it with fewer devices and would be a way to cut the cost for both the participant and the venture itself. I wanted to pitch this with the most ideal ratio and to see if the venture could still be financially feasible but I have to admit that it would still work, if a bit less smoothly for the teacher for students to work in groups sharing one headset. The plan is to have everything couriered to the schools, although it may be less expensive just to hire someone part-time by year 4. In terms of tech support, I have to admit I left that for the CEO (me) to sort out. They would likely have to be serviced through the manufacturer, so this would entail communicating with them and shipping headsets back and forth. I think that hiring someone for this role would become more necessary after year 4 due to the increasing number of headsets.
Hope this helps,
Katie Muzyka
FEEDBACK: Great work Katie! You’re venture pitch was well organized and articulated your business idea very well. I think EduTrip has great potential to enhance the learning of many students, and partnering with museums and community groups is a clever way to build a database of experiences for students to learn. You mentioned in your pitch that the pricing is comparable to that of field trips, I can understand the rationale for this pricing scheme (especially with the upfront cost associated with VR headsets), however it may be worth adjusting the rate to be lower than standard field trips to better entice schools to consider EduTrip as the better alternative. I thought your analysis of competition a risks was very thorough, and it got me thinking that EduTrip may have a potential peripheral market opportunity of developing the virtual experiences that can then be sold to school districts who purchased their own VR headsets, or even your competitors who have the hardware but lack the curriculum relevant content. This may even lower potential overhead costs. It was a pleasure exploring your venture pitch, very well done!
REVIEW/FEEDBACK Hi Katie, this is a great venture! As I was going through your work, I was thinking about all the field trips we had to cancel due to COVID. Your choice of grade levels is very appropriate. My area of expertise is in second language acquisition and I can see how your venture can be appealing to language teacher, especially those who are working in immersion. I am recommending funding for this venture and wish you the best!