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Everytale

Online education platform adapted for disadvantaged groups

Russia, Moscow region
Market: Information and media, Education, training, Artificial Intelligence, Virtual and Augmented Reality, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 16.04.2020
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Idea

Based on AI, speech-to-text recognition and ML, Everytale allows international users to educate themselves in their mother tongues or other languages and educate others. Content creators receive a tool to monetize their knowledge through paid sessions. By gamifying education, we add a competitive aspect that intensifies users to learn and realize the value of obtained knowledge. ML helps to create a portrait of each user's competencies, and these competencies grow during the interactions on the platform. In addition, we create a fundraising tool to provide quality education in single cases.

Current Status

We are under development. The launch is scheduled for July in the US, EU and Russia. We have gathered an audience of 100,000 users for beta testing the platform. We have established contacts with the largest charitable organizations, associations of hearing impaired citizens, and educational movements. Among them: New Teacher Center, Teach for America, Teach for Pakistan, Teach for All, British Deaf Association, World Association of the Deaf, Russian Association of the Deaf, US Department of Education, Ministry of Education of Russia, Afterschool Alliance, Echoing Green and many many more. We have entered into agreements with Roscongress, which operates 80% of the conference rooms in Russia, to equip these rooms with our platform. We also entered into agreements with 4 universities to launch the platform in pilot mode.

Market

Education market - $5 trillion
Online education market - $252 Billion
Congress and Exhibition Market - $38 Billion

Problem or Opportunity

There are 71 million refugees in the world, 446 million hearing-impaired people. 5 billion people speak only their native language. Everytale connects unemployed professionals and recruiters, young talents with universities, and gives people experiencing financial aid a chance to overcome barriers to learning and earning. Moreover, Everytale helps integration of refugees and people with disabilities in social communities and on the labor market.
We are creating a platform that will attract the best professionals from different industries as well as the best universities. These professionals will create content available to an unlimited number of users. By acquiring knowledge, users will be able to find jobs that they like. The content consumer will choose its own development direction taking into account global trends. During the training, he will see an increase in the level of his competencies and the average level of competencies in the industry. This knowledge will help him regulate the intensity of classes. A portrait of the user's competencies will be available to recruiters, thus, not the color of the skin and physical characteristics, but only professional skills will affect the career opportunities of the user. This is what barrier-free environment means.

Solution (product or service)

Online education platform
The speech recognition system we are developing adapts the educational process for hard of hearing citizens and citizens without knowledge of the language. We collect the best recognition systems in the world, and a complex mechanism determines the most suitable depending on the settings set by the user. The big data collection system and neural network algorithms are constantly improving the speech recognition system and eliminate errors in recognition. The neural network selects educational content based on the user's personal profile. Gamification allows you to unite people according to their interests and ensure the competitive nature of training. Digital currency is accrued for achievements and can be spent on platform or withdrawn

Competitors

Youtube
Cuorsera
Lynda.com
Udemy
Lingualeo
Alison
UoPeople

Advantages or differentiators

There are many websites that provide access to educational content. These are mainly websites with recorded videos. We offer online classes with interactive communication between the speaker and users. We are not limited to certain courses. We are a knowledge sharing tool that helps to commercialize knowledge for tutors, teachers, bloggers etc.
We are the only platform that allows you to earn on training, as well as providing fundraising opportunities for educational purposes.
The speech recognition system we are developing adapts the educational process for hard of hearing citizens and citizens without knowledge of the language. We collect the best recognition systems in the world, and a complex mechanism determines the most suitable depending on the settings set by the user. The big data collection system and neural network algorithms are constantly improving the speech recognition system and eliminate errors in recognition. The neural network selects educational content based on the user's personal profile. Gamification allows you to unite people according to their interests and ensure the competitive nature of training. Digital currency is accrued for achievements and can be spent on platform or withdrawn

Finance

According to the current financial situation, Everytale has $800K on available funds. So far Everatale has raised $2M. Further funding is planned to take place in May. Everytale plans to raise >$1M in this round. Burn rate after launch in July will be as high as $80K. The platform will be available free of charge for 3 months. The CPU is $3, including CAC and the cost of streaming (AWS). ARU is $4 including: % of each transaction, advertising integrations within sessions, license payments (>1 session at a time), and payment of premium accounts with access database of profiles of applicants. Break-even will be achieved at 200 000 users by Dec 2020. The company will be financially stable during the period to reaching the breakeven.

Business model

SaaS model.
1) Content creator receives 1 TB of traffic for free, than chooses one of several offers depending on his audience (10TB - $999 per year)
2) When holding closed sessions, the content creator receives the amount claimed by him from the session visitors. The platform receives 10% of each transaction.
3) The platform provides the opportunity to promote sessions on a paid basis
4) The platform makes it possible to search for young employees by their portrait of competencies. Access to user profiles is provided for a fee

Money will be spent on

Payroll Fund 15 developers
Marketing
Paying for cloud services

Offer for investor

We are raising up to $1M at a $8M post-money valuation in the form of convertible note with maturity date in June 2021.

Team or Management

Risks

Slow development, in connection with which competitors will introduce new technologies and occupy the market. Lack of funds with rapid growth. Slow connection to the platform of educational institutions due to bureaucratic delays.

Won the competition and other awards

Our project is selected as one of the 50 semi-finalists in the Future Skills Innovation Challenge 2020. 12 winners will be announced in May.

Invention/Patent

Patent for program code
Trademark certificate

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video