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M-Shule Analyst Report - ETEC 522 - A1
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M-Shule
Kenya's 'mobile school'
VENTURE ANALYST REPORT
Jessica Daicos | October 2020
Index
4. Forecast
3. M-Shule
1. Rationale
Actions and recommendations
Why invest in African EdTech?
Venture profile
At a Glance
2020
Criteria for success
New opportunities in a changing world
Facts and figures
Challenges to consider
Ask
Product Demo
Big Idea
Investment requirement
AI meets SMS
For a successful venture
Assessment
Team
2. Market
Leadership
Does it meet criteria for success?
Africa // Kenya
Opportunity Space
Conclusions
Recommendations for investment
& Competitive edge
01
RATIONALE
Why digital learning technologies for developing countries?What challenges exist?
60%
of children and adolescents are not achieving a minimum level of proficiency in reading and math
- UN Sustainable development goals
90%
of African learners are already in learning poverty.
With the pandemic closing schools, it may take students more than
2 years
to catch up for each term missed.
"... digital technologies, used well, are already helping to overcome some of the specific, serious challenges of health and education delivery in the developing world."
- Pathways Commission Report (2019)
+14.5%
From 2020-2025, Africa's e-learning market is expected to grow at a compound annual growth rate of 14.5%. By 2025, it is projected to be worth over US$ 2 billion.
Criteria for Success
According to the 2019 Pathways Commission Report, technology can help improve education systems if the following conditions are met:
FOR ALL
was it designed to benefit everyone?
Can adaptive learning software provide customisation for students in the most marginalised communities?
ECONOMIC
is it an appropriate and cost-effective solution?
Is digital connection affordable?
RESOURCES
does the technology have the appropriate support?
Are the infrastructure (internet, electricity, digital/data standards) and human capacity (digital skills, social acceptance, institutions) in place?
SYSTEMS
do the underlying systems support learning?
Who are the stakeholders and decision-makers? How does the government fund and support education? What cultural attitudes must be acknowledged?
CASE STUDY: One laptop per child
big idea:
How can the lucrative African e-learning market be accessed so as to improve education outcomes while generating profit?
and then:
How can we predict the investment's success by supporting a venture that respects the local markets, cultures and stakeholders?
02
Market Analysis
How promising are digital learning technologies in Sub-Saharan Africa?
market analysis
AFRICA
SUMMARY
79%
in SSA think the internet is a good influence on education
Top 5 leading regions in the e-learning market (2019):
Top 3 smartphone markets in Sub-Saharan Africa (SSA) by 2025:
Top 5 e-learning market drivers:
- Rising disposable incomes
- Increasing population
- Increasing government initiatives
- Rising internet penetration
- Growing smartphone industry
<10%
of students that enroll in primary school will make it to university
1b
mobile connections expected in SSA by 2024
- South Africa
- Morocco
- Nigeria
- Tunisia
- Kenya
- Nigeria
- South Africa
- Kenya
market analysis
Kenya
SUMMARY
40%
of Kenya's population is aged 14 or under
(20.5 million)
56%
of Kenyans who have a mobile phone use it for learning
18%
1GB of data costs
of the average monthly income
+7m
new mobile subscribers by 2025
72%
live in rural areas
Share of web traffic by device:
As a percentage of population:
96%
have 3G coverage
62%
own a mobile phone
43%
are internet users (on any device)
03
M-Shule
Venture Profile
M-Shule
addresses Kenya's love of mobile phones, high cost of internet connectivity and need to support a growing population of students in regional settings.
Can be used on any mobile phone and does not require internet access
Mobile SMS learning
Builds community
Facilitates relationships between school directors, teachers, parents and students
Data Driven
Adaptive learning allows for personalisation of tutoring and instant analytics. Insights are shared with key stakeholders.
At a glance
Objective
How it works:
"M-Shule is the first adaptive, mobile learning management platform designed to improve performance [in Math and English] for millions of primary school students across Kenya and Sub-Saharan Africa."
EXPAND
Facts and figures
Achievements
$0.90/month
400 to 4000+
12,000+
2016
Established
Cost per student
Learners in 2017
Learners in 2020
$8.33/month
$10M
+20%
Top 50
Cost to schools to manage data
Est. revenue by 2023
Improvement in student exam scores
Holon IQ's list of Africa Edtech 2020
"Only 10% of schools in developing countries currently have internet connection. We need to be more creative and more innovative in connecting them to powerful learning tools and M-Shule wants to be that platform for students across the entire African continent. "
Claire Mongeau: founder
Investors and awards
Product Demo
AI meets SMS
Adaptive learning personalises student learning at the point of need. SMS makes the platform accessible by any mobile phone, without requiring internet connectivity. Learner performance is tracked and shared with parents and schools.
Team
Julie Otieno
Phoebe Khagame
Sara Cohen
Claire Mongeau
Co-Founder & Chief Technology Officer
Head of Operations
Head of Learning
Co-Founder & CEO
Insights
Opportunity Space
Retaining Customers
Growing customer base
Summary
Competitors
04
Forecast
Venture Assessment and Investment Recommendations
Claire MongeauM-Shule Co-Founder & CEO
More than 85% of Africa's population works in the informal economy, and the pandemic has decimated their lives. Incomes are down, schools are closed, and families cannot access resources to keep learning and stay safe.
2020
M-Shule adapts to provide COVID-19 solutions for healthcare and learners.
Healthcare support
Through a partnership with Jacaranda Health and Health-E-Net, M-Shule created an e-learning platform to accelerate referrals for high-risk mothers.
01
We will reach at least 10,000 families throughout the pandemic, launching educational and health information immediately and continuing for at least three months until the curve flattens
Pandemic communication
M-Shule's new Coronavirus Response Toolkit encourages better understanding of COVID-19. It is available in several local languages and is accessible without internet access.
02
School closures
Its adaptive learning platform continues to support students and communities during school closures. Parents spend less money on educational materials and schools can track learning progress at a distance.
03
Seeking:
Meeting these goals requires strategic funding and collaboration to support content expansion and partnerships with health organisations.
- Funding - Grants
- Funding - Loans
- Funding - Investment
- Partnerships - NGOs
- Partnerships - Private Sector
- Partnerships - Government
M-Shule's Ask
Investment needs
To continue responding effectively to the changes of 2020, M-Shule aims to:1. Increase content production 2. Support more out-of-class learners 3. Onboard more team members
Author Name
Venture Assessment
M-Shule meets the criteria set out by the 2019 Pathways Commission Report.Click to view the analysis for each category.
FOR ALL
was it designed to benefit everyone?
Can adaptive learning software provide customisation for students in the most marginalised communities?
RESOURCES
does the technology have the appropriate support?
Are the infrastructure (internet, electricity, digital/data standards) and human capacity (digital skills, social acceptance, institutions) in place?
SYSTEMS
do the underlying systems support learning?
Who are the stakeholders and decision-makers? How does the government fund and support education? What cultural attitudes must be acknowledged?
ECONOMIC
is it an appropriate and cost-effective solution?
Is digital connection affordable?
Analysis
Analysis
Analysis
Analysis
Conclusion
Venture Analysis
The Sub-Saharan African mobile learning technologies market is experiencing rapid growth. Kenya, in particular, is forecast to expand in its demand for e-learning and mobile technologies. M-Shule has responded well to the SSA learning technologies market. Its platform has also been effectively designed to cater to students in the most marginalised communities. The team's expertise in and passion for education in East Africa is no doubt responsible for its thoughtful and appropriate design.
Conclusion
Investment Recommendations
Though Eneza is a significant competitor, M-Shule creates unique value by providing a highly personalised learning experience and building supporting relationships. Eneza's success may forecast similar growth for M-Shule. M-Shule's strategy positioned it well for the shift to remote learning in 2020. It has adapted admirably to support communities during COVID-19, both in learning and healthcare. New investment and partnerships will allow for continued expansion of their initiatives. While the venture has so far performed well, updated growth and revenue forecasts are not publically available after 2017. This data would be crucial for calculating expected investment returns and requires further investigation.
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