Tuesday night saw many great minds congregate at Fishburners for a masterclass in how to innovate Edtech business models.
The focus of the night was innovating business models for higher education and learning to innovate with the Business Model Canvas (BMC).
The process for the night was simple.
- Understand the BMC
- Split into teams and map the current higher education model with post-it notes on a large printed out canvas
- Pick an area of focus to innovate on and brainstorm ideas
- Flesh out the best idea
- Present innovative business model back to the group as a team
By the end of the evening, we had some very creative business models come out of the discussion. Here are the business models presented by the teams after 1 hour of being introduced to the Business Model Canvas:
- A crowd sourcing approach for research candidates to solve the world’s problems
- Low cost education by having peer to peer learning where students teach and learn from each other rather than dedicated teaching staff
- Industry driven education programs
- A super elite university focused only on the best and brightest with high fees and access to the best mentors
- Targeting the growing aging population and engaging them in higher education to have better societal outcomes
For many, this was an introduction to the business model canvas. It was amazing to see a room of people work together to learn a new tool and create innovative business models in an hour.
Our next event with be a Startup Weekend Education on the 27th to the 29th of June. Have a look at the video for a teaser. Full details will be released shortly.