THE BUSINESS IDEA:

PURSUE:

A dynamic, interactive, multi-featured and fun on-demand learning app for the rapidly evolving, tech-savvy millennials who are either currently enrolled as students or are working professionals. The app will serve as a marketplace where different trainers, speakers, educationists, and institutes will be taken on board to offer courses for a suitable subscription fee. Students will be able to learn on the go through this app. They can stream the content or download it to watch at home, in the subway, or wherever they find it easiest to learn.

The novelty lies in the interface and multiple features that the app will offer. There will be a range of different popular categories which students are interested in – sports, arts & creativity, food & hospitality, music & dance, software, business, travel, photography, writing, design, environment, science & technology, medicine, psychology, and history – to cater to a wide number of people. New and niche subjects will be added and customized in response to individual demands. Regular assessments, projects, and fun challenges will be given to students to fulfill during the course. Students, upon subscription of a course, will be able to watch videos, undertake assignments, access publications, podcasts, seminars, and conferences.

The app will not only act as a skill development or a continuing education platform but will also serve as a community. A social network through which students will be able to connect and network with their fellow peers, share their ideas and projects and also maintain their profiles as they do for Facebook and Instagram. The profiles will act as portfolios for them, reflecting individual interests and progression.

Other features of the app will have a shop to purchase stationery, gears, equipment, and material required for completing tasks and projects of the respective courses. Students will also be able to access job portals available in a separate section and get recommendations from course instructors and fellow peers for landing a job.

OBJECTIVE:

Pursue intends to empower millennials to learn, grow, follow their dreams and connect with the world, preparing them for an evolving future – wherever they are!

2. MARKET FEASIBILITY

TARGET AUDIENCE:

Demographics: Millennials, born between 1980 and 2000. Students, working professionals or married.

Psychographics: Technology has always been part of their lives. This generation is accustomed to instant gratification, quick access to products and services and additional sources of income created by the on-demand economy.

According to Ljupka Naumovska, (2017), they need attention, affirmation, and community. Finding a higher meaning of life and self-expression is what’s important to them. Their online interests lie in dating, career, networking, education, entertainment, and sociopolitical causes.

HOW PURSUE WILL ADD VALUE TO THE TARGET AUDIENCE?

PURSUE will offer everything millennials want – on-the-go convenience, authentic experiences, personal and professional development and a platform to connect with the world. Apart from being convenient and easy to use, it will come with a support network of instructors and fellow peers to help them gain a sense of connection and achievement.

It intends to give them greater flexibility and enable mobility with flexible schedules, allowing them to progress at a discrete pace, as quickly or slowly as they want, without having to depend on a group.

MARKET SIZE AND TRENDS:

As per Helmi, A. (2001), the global online education industry has expanded rapidly in the past few years. The three main drivers of online education were identified as information technology, education brokers (universities), and market demands.

Wadhwani, P. & Gankar, S. (2019), state in a report that globally, the e-learning market is estimated to hike from USD 190 billion in 2018 to USD 300 billion by 2025. On the other hand, the Australian online education market, according to “Online Education in Australia,” (2017), is anticipated to grow at a CAGR of over 8% to cross $7 billion by 2024, on account of technological advancements, eager learners and increasing penetration of smart devices.

The growth rate of the market seems promising because of the developments in artificial intelligence. Progress in IT security and implementation of cloud-based solutions have also increased the adoption rate as people are now able to enjoy a smooth learning experience on safe online platforms.

According to Briggs, S. (2019) collaborative edtech tools are supporting online learning through chatbots; platforms and apps that promote peer-to-peer engagement; and groups, blogs, and wikis. Students can use chat tools they already know like Facebook, WhatsApp, or Skype—or they can use chatbots like Google Allo for a more personalized online learning experience, as a source of social learning, to save teachers time, and for online assessments. To collaborate during lessons, students are using Google Apps for Education, Recap, TalkBoard, GoSoapBox, and Padlet.