Our Value Proposition:
1. Provide user friendly search tool that collects “for free” or “pay for” online or local classes
2. Certification of knowledge obtained through system, allowing for educational credentials at a substantially reduced cost.
3. Learning Management System to create learning paths, based on user ambitions, utilizing said search.
4. Generate leads for higher education institutions that are of high value due to interest and opt in nature of lead.
5. Social media apps (FB, G+, LI) that shows off courses being taken and allows users to share what their doing and invite friends or contacts
Value Proposition Explained:
Education is a hot topic. Idealists (or should I say, politicians) propose education is a right, and should be accessible to all regardless of social or economic class. In attempt to reach this goal, easy money – in the form of easy debt – has been extended to would-be college goers, to help pay for rising costs of tuition. Along with the crowd following mentality “I must go to higher education, no matter what the cost, in order to be successful in life”, this ever increasing demand has only fueled the fire of the college attendance price tag. Perhaps an unprecedented amount of people are now able to go to college, but not without an ballooning burden of debt in kind, in the form of the dreaded student loan.
For those attending public 4-year institutions, average price, per year, before aid was approximately $16,900 and net price was about $10,200; for those attending nonprofit 4-year institutions, average price before aid was roughly $32,700 and net price was about $16,700; and for those attending for-profit 4-year institutions, average price before aid was approximately $27,900 and net price was about $23,800 (Source). National student loans debt has reached $1 Trillion, when capitalized interest is factored in (Source). Some have likened the current educational phenomenon to that of the housing crisis, even going so far as to suggest universities aren’t even interested in helping to fix the problem (Source).
Fortunately, there are some creative entrepreneurs that are finding innovative solutions to this education crisis in while traditional institutions are in absentia. ie, “We’ll fix it if you refuse to, and even do a batter job at it than you big shots ever dreamed of.” Free, yes literally FREE, online courses are been pioneered by sources such as MIT Open Courseware, Coursera, and the Khan Academy. And more and more are being implemented as we speak.
As these great resources become increasingly available, the question becomes – “how do we organize it?”
e2 solves this problem by bringing education to your fingertips. As we roll out our survey, we are getting some preliminary results on market interest. At this point in time, 46% have noted “Unable to find interesting classes” has been an inhibiting factor is online education ambitions. Utilizing a specialized search engine, e2 allows you to find “free” or “pay for” individual classes, either for credit or not for credit, online or local. Then, with an integrated “Learning Management System” you have the ability to manage, plan, and track your own learning paths based on these courses. Think of it like crafting your very own curriculum. Like hipmunk for education. 85% of survey respondents have said they would be interested in this capability. Additionally, with built-in interfacing with social media, you can share your progress through Facebook, LinkedIn, and more. 56% have said they would use this feature.
While we applaud those individuals who are so proactive as to pursue this new-fond, wonderful online education opportunity, it is questionable how employers will react to unaccredited learning sources. Will it hold any weight to employers? We’d like to think yes, but here’s a personal anecdote: At the (undisclosed) company where I work, I started out as an intern. So did my soon-to-be friend and house mate, who I will fictitiously name Pepe Silvia. After 6 months of good fun work, we were both offered job. Me, as an electrical engineer, and Pepe as a technician. We both had engineering degrees, so why Pepe a technician position? Pepe was skilled, ambitious, and hard working; he had the necessary training and skills required to be an engineer. During his senior year of studies, his school lapsed in its accreditation. For that singular reason, they refused to offer him an engineering job. Therefore, there is reason to believe it is necessary to form a recognized certification process to provide educational credentials for online classes, in order for this educational movement to be successful.
Lastly, higher education pays big bucks for quality leads. These leas are “high value” because based on user learning paths, schools with comparable programs can reach out to potential students (if the user opts in to this program). No more art schools wasting advertising on those interested in math; and vice versa. And it’s useful to the potential student, because he or she may learn of programs that provide the skill path they desire.