Summary and Reflection

Summary

Looking at No Red Ink from the perspective of an investor in educational technology, I found that the company strikes a good balance between making their product accessible to underfunded schools, while still finding ways to accrue profit by marketing the product directly to school boards. The reality of funding for public education in most of the world is that individual schools and classrooms have very limited funds to invest in buying educational programs for students, while school boards have more buying power. Putting the financial burden onto school boards for premium services and reducing the cost based on the volume of students subscribed makes it a much more realistic financial proposition.

Their CEO has displayed a strong commitment to students and teachers, creating a product that is a functional and important tool in classrooms, a personalizing writing instruction for each student. Additionally, the team at No Red Ink has a wealth of expertise from time spent in the classroom, working in curriculum development and with other companies in the educational technology sector. Overall, this company has accomplished an impressive amount since it was founded in 2017 and seems poised for even more success moving forward.

Reflection

Looking at No Red Ink through the eyes on an Educational Venture Analyst I have realized that what makes it stand out from other technologies is that it is engaging for students and directly addresses an area of need that exists within classrooms and at a school board level. It appeals to students, teachers, and administrators for three distinct but equally compelling reasons. Students are drawn to the program because, while it is substantially similar to practicing grammar in other online programs, it has a clean and inviting interface and sample texts that adjust to their stated interests. Teachers like the program because it allows them to easily track student progress and makes differentiating grammar instruction easy and effective, while retaining student interest. Meanwhile, administrators and school boards are drawn to it because it can help them meet state requirements to track student achievement, is aligned with state standards, and compatible with existing data collection programs.

I will be looking to approach my venture pitch by clearly appealing to all possible stakeholders in distinct ways that help to fill practical needs that exists in K-12 education. I am interested in the way that No Red Ink captures student interest without gamifying the program, which can lead students to rush through work or which can involve a lot of detours from the content they are trying to learn. I am also looking to be cognizant of what an appealing program for K-12 would look like in a Canadian context. No Red Ink monetizes their product by appealing to US school boards who are required to collect a significant amount of data on student learning. This requirement does not exist in Canada, so I will be looking to make my venture pitch fit in with the priorities of Canadian schools.