GradHat is a for-profit education-technology startup seeking venture capital firms and
partners to invest in our company. Provided below is an analysis of our venture from
the perspective of an Educational Venture Analyst (EVA) in order to evaluate and critique
GradHat as an authentic learning resource and technology. The intended audience is
first-round venture capital investors.
partners to invest in our company. Provided below is an analysis of our venture from
the perspective of an Educational Venture Analyst (EVA) in order to evaluate and critique
GradHat as an authentic learning resource and technology. The intended audience is
first-round venture capital investors.
Our goal is to be the largest provider of professional workplace learning and training online certification courses designed for modern workforces.
The Problem
For the past month, news headlines around the globe have been dominated by the devastating effects of the COVID-19 pandemic:
These unprecedented changes are creating long term implications for our health, economy and future. Those who are not considered essential workers (healthcare, law enforcement, public health/safety, transportation, etc.) have been encouraged to stay home and to work remotely in order to mitigate the spread of the virus. For some, this is simply not an option (due to the nature of their work or otherwise), and instead have found themselves unemployed in dangerously unsure times. The chart below compares unemployment insurance claims in the United States since 1967, with a massive increase this past month.
- 3 March 2020 "Shortage of personal protection equipment endangering health care workers" - World Health Organization
- 15 March 2020 "Schools all over the country [USA] are being closed with many moving to online instruction" - Forbes
- 27 March 2020 "Canadian unemployment could hit 15 per cent amid coronavirus pandemic, deficit to $113B" - Global News
- 29 March 2020 "Coronavirus live updates: Cases globally surpass 660,000" - CNBC
These unprecedented changes are creating long term implications for our health, economy and future. Those who are not considered essential workers (healthcare, law enforcement, public health/safety, transportation, etc.) have been encouraged to stay home and to work remotely in order to mitigate the spread of the virus. For some, this is simply not an option (due to the nature of their work or otherwise), and instead have found themselves unemployed in dangerously unsure times. The chart below compares unemployment insurance claims in the United States since 1967, with a massive increase this past month.
Prior to the spread of this pandemic, there was already a global growing skills gap/mismatch among the working population due to changing employer and market demands in evolving industries requiring higher technical skills such as digital, technology, data science and finance. As a result, many were finding themselves left behind as they were unable to advance in their careers, and even unemployed due to lack of specific skill sets.
Thus, now more than ever, there is a need to prepare workers with the essential skills that will be required for the future of employment in a post-pandemic, virtual society.
Thus, now more than ever, there is a need to prepare workers with the essential skills that will be required for the future of employment in a post-pandemic, virtual society.
The Solution
In light of the current situation, with many workers working remotely and schools switching to online instruction indefinitely, the virtual communication and online education industries have seen a substantial increase in use, growth and value. Online education is being praised for its critical role in the COVID-19 pandemic due to its connective and accessible nature. This trend is expected to continue grow and potentially become a norm for employment and education purposes in the future.
"Time being sheltered in place due to social distancing has enabled folks to think more about their own learning and interests" - which has caused an additional spark in the digital transformation effort that is encouraging re-skilling and up-skilling of workforces to meet the pre and post pandemic market demands.
GradHat offers accredited certification courses across 20 industries (including construction, finance, IT, marketing, software engineering and more) via our online platform. While certifications cannot replace degrees or other professional licenses that may be required for certain occupations, obtaining professional certifications is an effective way to build relevant industry knowledge add value to a career and resume. Online delivery and access to virtual resources and training tools is an affordable and convenient solution for connecting learners to learning materials.
Emergency relief funds and incentives across North America have been put into place to support small and big businesses as well as individuals for training and service purposes in effort to support economic development and reduce declining employment rates during these difficult times. Those who are eligible for these relief initiatives can access GradHat's various professional certification courses for free to develop an essential skill and improve employability.
"Time being sheltered in place due to social distancing has enabled folks to think more about their own learning and interests" - which has caused an additional spark in the digital transformation effort that is encouraging re-skilling and up-skilling of workforces to meet the pre and post pandemic market demands.
GradHat offers accredited certification courses across 20 industries (including construction, finance, IT, marketing, software engineering and more) via our online platform. While certifications cannot replace degrees or other professional licenses that may be required for certain occupations, obtaining professional certifications is an effective way to build relevant industry knowledge add value to a career and resume. Online delivery and access to virtual resources and training tools is an affordable and convenient solution for connecting learners to learning materials.
Emergency relief funds and incentives across North America have been put into place to support small and big businesses as well as individuals for training and service purposes in effort to support economic development and reduce declining employment rates during these difficult times. Those who are eligible for these relief initiatives can access GradHat's various professional certification courses for free to develop an essential skill and improve employability.
Differentiation
There are various online learning platforms that offer open online courses, specializations and even degrees... what makes GradHat different? We are the missing link between learners, trainers, employers and curriculum developers.
Individual Learners & Workers looking to develop new skills in order to acquire employment or to advance their careers can find relevant certifications in just about any industry on our platform, including highly in-demand technical industries like data sciences. There are a variety of affordable options to suit personal and professional needs goals.
Individual Learners & Workers looking to develop new skills in order to acquire employment or to advance their careers can find relevant certifications in just about any industry on our platform, including highly in-demand technical industries like data sciences. There are a variety of affordable options to suit personal and professional needs goals.
Teachers & Trainers looking to provide their professional expertise and to support learners can offer their services at their own rates with GradHat. GradHat trainers are knowledgable and have first-hand experience in their respective fields. Learning is mostly self-guided, so trainers are available on an "as-needed" basis for instructional or clarification purposes - allow them to have their own flexible schedule as well! Organizations interested in using GradHat can also BYOT (Bring Their Own Trainers).
Employees & Employers looking to improve job performance or to adopt and train for new policy implementation can access GradHat's vast database of professional certifications and other training tools and resources, or even use our technology to design their own. There are also group rates for small and large organizations.
Curriculum Developers looking to freelance their expertise can develop content geared toward professional development, re-skilling and up-skilling in various industries; can provide their own pre-made content; create new content for existing certification courses; or establish a task-based contract with employers and/or individuals seeking specific learning solutions. We provide our learning management system to curriculum developers to work their magic!
Marketing
GradHat's online learning platform is intended for the work-age population looking to develop new skills in order to acquire employment or to advance their careers in an affordable and convenient way. Modern learners tend to have busy schedules and are seeking flexible learning solutions to meet their personal and professional learning needs and goals.
GradHat has established agreements with various leading accrediting organizations that allow graduates of our professional training programs to receive industry and internationally recognized credentials and certifications. For example, our English as a Second Language (ESL), Teaching English as a Foreign Language (TEFL), Teaching English to Speakers of Other Languages (TESOL) courses are accredited by TESL Canada and ACTDEC. Learners also have the option of completing practicums in order to receive more advanced certifications.
GradHat was developed in association with WhiteHat, a successful U.K. tech company bridging skills gap by connecting apprentices with career-focused apprenticeships and hiring employees. WhiteHat already has a close working relationship with many industry leading organizations that have agreed and are willing to work closely with GradHat
GradHat has established agreements with various leading accrediting organizations that allow graduates of our professional training programs to receive industry and internationally recognized credentials and certifications. For example, our English as a Second Language (ESL), Teaching English as a Foreign Language (TEFL), Teaching English to Speakers of Other Languages (TESOL) courses are accredited by TESL Canada and ACTDEC. Learners also have the option of completing practicums in order to receive more advanced certifications.
GradHat was developed in association with WhiteHat, a successful U.K. tech company bridging skills gap by connecting apprentices with career-focused apprenticeships and hiring employees. WhiteHat already has a close working relationship with many industry leading organizations that have agreed and are willing to work closely with GradHat
Championship
As mentioned above, GradHat was established based on a similar business plan as its affiliated company WhiteHat. The success of this venture is lead by those who have successfully paved the way before.
Learn more about the individuals championing this venture on the About page.
Learn more about the individuals championing this venture on the About page.
Competition
Organizations like Coursera who collaborate with universities and organizations are our biggest competition; however, in addition to our differentiation strategy and our affiliation with WhiteHat, we are entering the market with a strong business plan and certified backing.
Additionally, our goal is to be the largest provider of professional workplace learning and training online certification courses designed for modern workforces. That is why our training modules employ microlearning practices and principles in order to meet the needs of modern learners.
Check out this open educational resource for more information regarding the benefits and drawbacks of microlearning in our fast-paced technological society.
Additionally, our goal is to be the largest provider of professional workplace learning and training online certification courses designed for modern workforces. That is why our training modules employ microlearning practices and principles in order to meet the needs of modern learners.
Check out this open educational resource for more information regarding the benefits and drawbacks of microlearning in our fast-paced technological society.
Finances
Local and federal governments have implemented various relief funds and initiatives for small, seed-stage for-profit tech companies in their efforts to develop and commercialize new technology-based products (for example) in response to the economic effects of the COVID-19 global pandemic. GradHat has greatly benefitted from this funding in these early stages.
Through our venture, GradHat is seeking to aggressively disrupt various industries such as online education, business education and higher education, and so we are seeking an investment of $350,000 in return for 10% of the company.
With this massive increase in value of online education and government intervention of investment in startup tech companies as well as the training of employees, investors will see an immediate turn of investment that will continue to grow as this trend continues into the future even after the symptoms of COVID-19 have diminished.
Through our venture, GradHat is seeking to aggressively disrupt various industries such as online education, business education and higher education, and so we are seeking an investment of $350,000 in return for 10% of the company.
With this massive increase in value of online education and government intervention of investment in startup tech companies as well as the training of employees, investors will see an immediate turn of investment that will continue to grow as this trend continues into the future even after the symptoms of COVID-19 have diminished.
Note: This "Venture Pitch" was created by Kendra Achonwa as an assignment for the course ETEC 522 - Ventures in Learning Technology at the University of British Columbia in Vancouver, BC, Canada. March 2020.