What business models work for edtech startups? Great question! Edtech entrepreneurs are on a constant search to identify new business models that work in education. This month Startup Education launched their first Business Models in Education: Creating a Sustainable Venture bootcamp at the EdTech Austin meetup group in Austin, Texas. These bootcamps were designed to teach key information and skills to enable our community members to build sustainable education startups.
It was a fantastic night and there was a great crowd on hand. Seriously, look — here’s a photo of John from Startup (Weekend) Education talking about the Business Model Canvas for education:
John walked participants through a simulation of the Business Model Canvas, using higher education institutions as examples. After mapping the traditional business model, participants were asked to “innovate and adjust” to find solutions that would make universities more innovative and adaptive to the needs of the consumers.
Some of the suggestions for innovation were really cool. For instance, more than a few teams suggested that universities might innovate by not charging tuition (it might sound crazy, but consider that online universities, MOOCs and the like were pure fantasy a little over a decade ago). These kinds of “crazy” ideas are what make innovation in education possible. Thanks to everyone for participating; we hoped you enjoyed the workshop!
Following the workshop, we were very fortunate to hear from Ben Ponder, who discussed some of the challenges in creating a sustainable education venture. Audience members discussed the merits of the “freemium” model in education, and even considered the role that advertisements will play in future iterations of classroom content and curriculum.
We look forward to holding more bootcamp/workshop style events through EdTech Austin and hope you’ll join us in Austin in July for our next event…
Our next event is Startup Weekend Education – Austin! We hope you will join us for that on July 25th, and if you register as an educator, we’ll give you 25% off your admission if you use the promo code: “ATXEDUCATOR”. Click below to check it out:
We’ve got some fantastic mentors and judges, and it’s sure to be an awesome event! Drop me a line if you have any questions.
This post was originally published on EdTech Austin’s website and written by Sean Duffy, Startup Weekend Education Austin Organizer. The EdTech Austin Meetup is the hub for the amazing keynotes, panel discussions, edtech mixers, member spotlights, and hands-on learning experiences that inspire teachers, entrepreneurs, technologists, education reformers, and ed-tech enthusiasts to connect, collaborate, and innovate.