Crowdfunding a previously venture-funded education project. Possible?
August 19, 2014 3:26 PM Subscribe
Scenario: Funded by a well-known VC, a previously successful (sold last company to Motorola) creates a (hyperbole, aside) revolutionary video instruction platform that *eliminates* bandwidth constraints, worldwide, at the same time increasing the capacity for student interaction by an order-of-magnitude and optimizing data analysis capacity of educational video.
posted by Vibrissae to Education (11 answers total) 1 user marked this as a favorite
The company deployed in India, enrolling 200K+ students to high praise, but failed to scale due to its refusal to pay off bribes to Indian government and education officials. The company is essentially dormant (with one licensee) and all Intellectual Property patented and intact. The entrepreneur bought back her equity in the company from the VC; she owns it outright.
The company has been introducing its video education platform to American foundations and other education entities, to high praise - including MOOCs, publishing companies, etc.
The company needs cash to get off the ground; it has pursued strategic relationships with some of the aforementioned institutions, but the process is painfully slow, and burdened with "not invented here" perceptions from those institutions, in spite of their strong support for thew platform. This has been monumentally frustrating. It is essentially a re-start. The company (currently, in stealth) wants to make a difference because it can enable anyone on earth, regardless of bandwidth constraints.
Does a company like this qualify for crowdfunding assistance form the likes of Indiegogo or Kickstarter? I have read the rules at Indiegogo and Kickstarter, but I can't tell from their rule sets whether a company like this would be able to attempt a crowdsourced effort.
Any other thoughts or ideas are appreciated. It's amply apparent to me (and others who have seen it) that this video education platform is truly revolutionary (I have spent considerable time in the space). It would be a shame to let this company and the platform it has created, die.