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Showing posts with the label New venture

Conversations 25 - The Idea Of An Institution

My agenda in 2015 is to be able to build the kind of institution I keep talking about - a global, entrepreneurial, practical, creative school.  I know the idea but I dont know where I should eventually build it. One tempting answer is, everywhere, which was indeed at the heart of my earlier venture. The technology to reach out to people wherever they are exists today, and building an institution on them is a sort of no-brainer. But, having tried this, I want to build a more traditional institution enabled by those technologies, so that it can reach everyone, but at the core, it offers a rich experience and cohesive purpose for all its learners. One of the things I learned through all my ventures is that it is the purpose that defines an institution, rather than its physical locations, courses or technologies. Too many people think too much about everything else, but forget to ask the why question. My essential starting point is indeed the why question - I see that to be t...

Education Innovation: Where Is The 'Venturesome' Learner?

One key insight about the process of innovation, provided by Amar Bhide of Tufts University, is that we tend to focus too much on the supply side of innovation, and less on the demand side of it. When we talk about the rise of Silicon Valley, or any such innovation success story, the stories focus usually on the great innovators and entrepreneurs, venture capitalists, incubators and other aspects of the innovation ecosystem: We tend to play down, however, the consumers who tried out those innovations, those early people who ordered on Amazon, tried out Webvan, embraced eBay and Google. The central point of Professor Bhide's argument is that we should go beyond the usual narrow view of the innovation ecosystem. And, this is not about consumer co-creation, or open innovation, which, despite their appeal in management literature, remain quite rare; the point is whether the wider economy is ready to embrace innovation.  As we prepare for the London event on Education Innovation (...

Education Business: The Need for Patient Capital

In my quest to get a technology-led global education network off the ground, I have now made several iterations of the business plan, made several presentations and attended scores of meetings, some with some success. Indeed, the ideas that I started with changed somewhat: However, that hurts no one as they have only become better, more road worthy, if anything. After several months of doing this, I feel more wedded to the process than I ever was. But I still I have one reservation which I have to deal with before we end signing up with anyone. It is that to build an institution of any value, one needs what the silicon valley types will call 'patient capital'. My interactions with venture capital industry have told me a very different story than what I initially signed up to. It is fair to say that the structure of the venture capital industry may have changed since the heady days of dotcom, indeed because of that; it has become more interested in traction and tried and te...

The Start-up: Global Network, Local Presence

In constructing a model for global education, the biggest challenge to negotiate is one that of local context. From the high ideal of global skills, it may not be visible that same words may mean different things for different people, and there is no universal agreement on how businesses should run and societies should function. This is where our business model of delivering British Education programmes worldwide comes up for a reality check. This is where we are having to think beyond the technology: In fact, technology plays only a minor part in the plans we are putting together. The consideration of context introduces a layer of complexity beyond just the online provision of teaching in our plans. We wouldn't be counting on the lazy assumption that if we put a set of good tutors and smart technologies, everything will fall in place. One of the things about Independent Education is that the success of students is everything: It is they who pay the bill, and it would be wrong t...

The Start-Up: My Story So Far

In 2009, while I was working to set up a global chain of English Learning and Employability centers, I was being told - by the educators I met and the employers I tried to persuade - that I should focus on global higher education instead. My pitch was that with the additional English language and employability skills training, the millions of graduates in India and elsewhere in Asia would be able to meet the demands of the employers: However, I was being told that the education system was somewhat broken and there was a need for a more global system of education altogether. This was outside the scope of what I could do then: While I was having conversations with customers and reporting this back to my colleagues, the business of Global Higher Education was  complex, investment intensive and difficult, and could hardly be achieved without deep commitment and long term vision, which my employers lacked. My design of making English training a loss-leader and building on a model of gl...