Elementeo
Have some fun while learning chemistry:
Posted in: Pitch Pool
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David Vogt
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ETEC 522 – September 2012
Ventures in Learning Technology
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Jonathan 7:40 pm on September 17, 2012 Permalink | Log in to Reply
YES, I would invest in this venture. This young CEO clearly has the enthusiasm and charisma to market this product effecitvely to his peers (his target audience). He has clearly developed a product that is original and feasible in the Elementary and Middle schools. As it is similar to many of the card games (ie. Magic, Pokemon and YuGiOh) the educational market would definitely benefit from a product like this.
While it is clear that the CEO has the passion, it isn’t clear how he is going to deploy and market his product other than through his website and making more decks.
This seems like a fairly safe venture to invest in but would require some guidance for the young CEO as he brings his product into the real world. It does appear that additional information and reserach is required as to whether a game like this would work with students using test groups but the energy is compelling from this individual. The game must be compelling enough. That being said the idea is original and could move forward successfully.
As a side note, after watching a few I was most compelled by this one. I had to take a step back to figure out if I was just taken back by his youth and energy. I looked into it and found an older version of him and that it’s clear his venture moved forward. Earlier in the year he even released an iPhone app to complement Elementeo. Neat idea and I couldnt’ be happier to see this in real life!
Check him out on TEDx 4 years later: https://www.youtube.com/watch?v=SxLfkvl6f0I
http://www.elementeo.com
Colin 8:25 pm on September 17, 2012 Permalink | Log in to Reply
No I would not invest in Elementeo but it was not an easy decision. I do like the enthusiasm and creativity of the CEO, Anshul. He is obviously working hard designing and trying to be innovative with his product but my main problem comes with the product’s marketability. I think that this game can help students learn about chemistry but really the target market is students who take chemistry and like playing card games. He has expanded into an app as well but I don’t think there is a real large market segment for this product even with an app. In addition he was asking for $100,000 which I don’t see being returned too quickly. I thought that some teachers may buy it for a class but I don’t think many parents would buy it for their children as it seems more of a game than an educational tool. Students would only buy it and spend the countless hours learning the game if they are really into card games. Too small a market segment so no I would not invest in Elementeo.
Jonathan 8:29 pm on September 17, 2012 Permalink | Log in to Reply
Just saw your reply and then I had doubts about my thoughts! I wonder if I’m thinking more as a teacher about the situation than an EVA. It was tough to separate the two while I was thinking about it. He does ask for a lot of money Colin to produce some cards. Perhaps he would be better off asking for a lower amount so that he could conduct a test group.
Proper marketing would definitely be needed to convince the parents but if it is being promoted by teachers than it could be successful. Although as I write this, I can see why it may be a while for the return and a somewhat risky investment!
cunnian 9:45 pm on September 19, 2012 Permalink | Log in to Reply
No, I would not invest in this venture. While the CEO’s enthusiasm and confidence are great and genuine, he is asking for a HUGE sum of money in order to “…print many decks…” (the vague nature of this does not inspire much confidence). While educational games can sell, an expectation of 1 million in the next year is unrealistic. Were the game electronic and something that an individual player could play (increasing the potential market), he might have a better shot. His market would be very small at best and this genre of card-based fantasy game already exists (like Magic cards) and, I would argue, offers a storyline that most potential buyers would find richer and more engaging. Another point is that this product does not necessarily satisfy a need. While there are certainly students who struggle with chemistry, I would suggest that there is a much greater demand for a math-related game. Furthermore, if this is to be marketed as an educational game, then there needs to be a closer examination of potential buyers. Nuclear reactions are typically not encountered until upper-level science courses (grade 10+)… would this age group be likely to buy such a product? I’m inclined to say no.
Lisa Nevoral 8:06 pm on September 23, 2012 Permalink | Log in to Reply
I also think that the CEO’s product does not meet the needs of his consumer. Some of the concepts of chemistry that he is explaining seems a bit to advanced for the level of students that would enjoy playing with cards. I think he would be better off if he created a game that could be downloaded as an application. He could still have the same questions and diagrams, but this could then be more interactive game and have cool backgrounds to capture the attention of his buyers.
Eva Ziemsen 2:15 pm on September 20, 2012 Permalink | Log in to Reply
Sadly, I would not invest in Elementeo as it stands.
I realize this is a business analysis and while I very much appreciate this CEO’s incredible enthusiasm and original idea, there is not enough credibility evident in the pitch. He states that the goal is to inject fun into the education of chemistry and “Print out many decks and distribute around the world.” He is asking for a large sum of $100,000. I’d like to know how many decks this would buy and what the projected profits would be.
Ideally, he would first state that existing chemistry education is not effective, because it is not fun and cannot be used at home as a game. The reality of teachers using a card game is class is potentially low, given the set curriculum. Therefore, this card game would require a ‘teaching kit’ in order to be integrated into a course. If this is simply a game for leisure, then perhaps it has more potential. However, I do think the demographic is therefore small. In the end, I do not know enough about this market to know if this would be profitable. Therefore, I would need more information from the pitch.
I do believe this CEO has what it takes to refine this pitch and sell the game, perhaps, as someone else stated, as an APP, rather than a card game. This could reduce the start up costs significantly and would potentially lead to a less risky investment. Of course, if this young CEO was accompanied by a more experienced individual and refined his pitch for an app version, I would sincerely reconsider my decision.
Eva
manny 11:36 pm on September 21, 2012 Permalink | Log in to Reply
No, I would not invest in Elementeo for the following reasons. First, It is an extremely niche and competitive market which requires a well thought out exit strategy. The ultimate goal here would be for a large toy production and distribution company to take over the patent. The CEO is extremely enthusiastic but currently provides no details of any sales and is seeking a 100k investment. With no sales, you cannot even put a valuation on this company. Had the CEO already produced a million in sales I would have strongly reconsidered. Secondly, I do not see the educational benefits that this card game offers. The logo of create, combat, and conquer sounds like a territorial game whereas words such as create, compounds, etc… could have made the connection with Chemistry. As an elevator pitch it did raise some interest and I would welcome a venture pitch in which I could maybe see a demonstration of the game. However, based on this pitch, it is simply too risky and I would not invest my money.
Manny
C. Ranson 8:28 am on September 22, 2012 Permalink | Log in to Reply
No, I would not invest in Elementeo based on the information presented by Kimberley Elsback. I would be concerned about the age of the CEO and how much experience he has and how this would impact on the sustainabiltiy of his company. As the viewer I have categorized him in the few minutes of viewing his pitch. Educational games are a very competitive market and how is this game going to solve a problem in learning, it might but he didn’t focus on this apsect, and how would it improve a current issue in the educational environment. Although, I was impressed as the viewer with his enthusiam, ability to present his pitch and how he engaged the audience due to his age but his pitch requires further development. The ptich was lacking in the description of a problem, what it was going to do to solve the problem and how it would save money.
Catherine
kstackhouse 12:03 pm on September 23, 2012 Permalink | Log in to Reply
I was also concerned by the credibility of the CEO. While we can’t discredit someone because of their age, experience in the field of chemistry and education in this scenario are clearly limited. The only way an EVA could look at this venture more closely would be if the CEO had assembled a team of researchers and developers with the required experience to ensure that the vision of the young CEO was carried through in a way that would be profitable for the investor.
Patrick Pichette 12:20 pm on September 23, 2012 Permalink | Log in to Reply
I’m not sure I agree with that comment completely. Yes, age can be a factor in determining whether the product can be carried out from start to finish but if the product or service offered has potential, I wouldn’t rule out investing on this basis alone. Potentially one of my requirements for investing would involve hiring a capable CEO to lead the company to profitability and determining the optimal route to success. Unfortunately, for this particular product, that would not be enough as I don’t think the product has enough potential to warrant any further investigation on my end.
manny 7:46 pm on September 22, 2012 Permalink | Log in to Reply
Hi Catherine, I can’t believe I overlooked one of the most obvious things in analyzing this pitch, the presenters age and lack of experience. As I have been looking through the list that we were given regarding the rationale for our analysis, I am beginning to think that it would be almost impossible to cover all criteria listed. In terms of identifying a problem and then posing a solution, one would think that this alone would take a few minutes alone. I am starting to think that a venture pitch would be more suitable for the given criteria. Thoughts? Ideas?
Manny
Eva Ziemsen 12:21 pm on September 23, 2012 Permalink | Log in to Reply
Hi Manny, I agree with you, that it is almost impossible to cover all the criteria required to conclude whether a venture is viable or not, especially in an elevator pitch. I was torn about my analysis for both pitches, as I felt I did not have enough information. In one instance, I said yes, but in hindsight, I think it was unwise. Since I am in the film industry, I also base my reactions to these pitches on knowing that the premise of an elevator pitch is merely to get an investor interested. The real material follows in a more in-depth proposal. Eva
Patrick Pichette 8:44 am on September 23, 2012 Permalink | Log in to Reply
No I would not invest in this venture although the concept does appear to be interesting. The target market is too small to have any chance of being profitable. The first question that came to my mind while viewing the pitch was “Who would purchase such a product?”. The only logical answer I could come up with was parents of children who happen to enjoy science and even then I’m not so sure that it would have much pull due to its limited scope. If given the chance, I would approach the CEO and recommend converting his board game to an online version that can be integrated to some form of online social gaming site which uses a business model that generates revenue on a pay-per-play model. It’s too bad though because he definitely has passion and has solved a very particular issue with a topic in science. It’s just far too limited in its scope to justify any purchases from an educator’s standpoint.