Venture Opportunity
Mission and Vision
WEBOTCHU strives to offer the best available custom training to make chatbot use in education easy for teachers to design and implement.
WEBOTCHU will become the world leader in chatbot development training and design.
The Market:
School Districts and post-secondary institutions in Canada are currently putting more attention to the importance of chatbot education.
As of 2020, in Canada alone, there are approximately 14,600 public schools. Canada's elementary and secondary school systems employ 766,200 educators.
Canada has 223 public and private universities, and 213 public colleges and institutes. Canadian universities employ over 47,000 full-time faculty members.
The Canadian School Boards Association (CSBA) is the national voice of school boards in Canada. They represent approximately 300 school boards serving over 3.6 million elementary and secondary school students in Canada’s public schools.
With the exponential progression of chatbots and this largely untapped market WEBOTCHU is in the introduction phase of the product life cycle and is poised for growth.
WEBOTCHU being an innovator and early adopter is poised to become a market leader.
Revenue Source:
WEBOTCHU generates revenue through the sale of their chatbot design and training program, and software package. Contracts are renewed on an annual basis.
WEBOTCHU's training program boasts a ready to use eLearning package, designed and curated by a team of skilled curriculum and programming specialists. The package includes the dissemination of the skills needed for educators to build and manage their own custom-made chatbot. Ongoing software support is included.
Marketing:
WEBOTCHU’s current target market is school divisions, and higher education institutions. Marketing efforts include conference and professional development advertising, focusing on influencing educational leaders and decision makers on the cost effective and easily implementable WEBOTCHU platform for their staff.
WEBOTCHU’s catchy slogan: “Learn, Create, and Educate with confidence” convinces potential customs of the need and advantages of educational chatbots to their institutions. WEBOTCHU’s marketing persuades end users that WEBOTCHU’s chatbot education and creation program will enhance their teaching and their students learning experiences.
Pricing:
Sold to divisions as a tiered subscription package priced on a per year basis. WEBOTCHU’s pricing is a lot less expensive than buying each educator their own customized chatbot. The range for other chatbots products is usually $500 - $3,000. Most will also charge a monthly fee for maintenance, changing content, improving the bot etc. This monthly fee is typically $100 - $2,000.
Sales Projections:
*75% uptake = 447,000 (.75)/625 x $75,000 = $40,230,000
*50% uptake = 447,000 (.50)/625 x $75,000 = $26,820,000
*25% uptake = 447,000 (.25)/625 x $75,000 = $13,410,000
*Figures assume chatbot technology training and adoption packages are sold to divisions to educate teachers in high schools (grades 9-12), as the use and need in the early years is not as relevant. As well as higher education institutes; colleges and universities (400000 + 47000 = 447000).
*Figures also assume the mid-tier ($75 000 for 500-750 user range, taking the average of 625).
Risks:
Competition: Although there are no direct competitors in Canada with a similar education focused business model, there are other chatbot development companies who market to the education sector.
Botsify – all educational
Ocelot – for higher education
Mainstay – for higher education
Juji – all education
Snatchbot – all education
Threat of imitation: Without patent and copyright protection in place, copycat companies who imitate the business model are a reality. WEBOTCHU must penetrate the market quickly to prevent competitors from moving in.
Competitive Advantage/Opportunities:
WEBOTCHU’s competitive advantages include, one of the first Do It Yourself (DIY) chatbots in the education sector, finding a new untapped market, and bundling a product with a service. WEBOTCHU has the advantage of being an innovator in the chatbot education realm and an early adopter of chatbot technology, which affords a significant gain in market share early on.
WEBOTCHU’s business development team forecasts many opportunities for growth. Such as, expanding into corporate learning settings, other countries, and new industries.
Investment:
What does WEBOTCHU need from you?
The Ask: WEBOTCHU is looking for $500 000 in investments to expand our talented team, increase marketing, and grow our sales in new regions and industries.
Return on investment: Investments of $500 000 will receive 2% equity in the company.
