University Startup Challenge 2021: IdeaLab

Contact: Lim Cher Khai

Learn together with IdeaLab!! An all-in-one educational platform aiming to solve your academic problems.


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pledge of RM 3,000 goal

1 September 2021 16 October 2021

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Project Summary

Background of founders 

I'm Lim Cher Khai, the CEO of IdeaLab. My team and I are all currently in year 3 of our mechatronics engineering bachelors degree. This campaign plays a vital role in helping us to get enough resources and money to build a fully-functional and user-friendly online educational platform. 

 

Problems Faced

Education system is digitalizing, how do we all incorporate a new way of learning
According to the survey we conducted on 100 potential users,

94% have problems solving homeowork questions,

79.2% of the are lack of reliable resources to refer to

84.1% of them are struggling with new way of learning. 

 

Solutions

IdeaLab, an all-in-one educational platform aiming to solve your academic problems, providing features such as 
1. QnA forum 
2. E-resources such as textbooks, reference books and more
3. Online Tution 

Details of our features are shown below: 

Value Proposition of IdeaLab

To provide a resourceful platform to enhance learning process with a reasonable price which can be accessed anytime, anywhere, as well as to connect people via our forums. 

 

Customer segment and market size

Our customer segment is based on klang valley, consists of SPM candidates who are science stream based and university students who take science and mathematics related courses.

Total market size is approximately 2.1 millon potential users in malaysia, where as our target market size mentioned is approximately 400 thousand potential users. 

 

Competitive Analysis 

The advantage of IdeaLab over the rest of our competitors is that IdeaLab offers resources which are more diversified and more compatible with malaysia market, not to mentioned that community can earn side income on this platform.

 

Pitch Deck

Kindly refer to our pitch deck provided below to see more details of IdeaLab!!

Link to view IdeaLab Pitch Deck

 

Fund Utilization

The fund from crowdfunding will be broken down into a few part and will be explained briefly. 

  • 40% of the fund will go to website development for our online learning platform, including purchasing of database, server, hosting plan, domain and more. 
  • 30% of the funding will be used on go-to-market strategy, such as advertising on social media, setting up of booth in universities and more. 
  • 30% for future use. 

 

The Impact

1) In conjunction to the pandemic, we want to allow student to have a place to learn and grow virtually. This website has multiple features to aid the student in their learning journey.

2) Encourage students to help other students while being rewarded. We have a few features that would help earn a side income in a creative way, including a QnA feature which allow anyone to past a question problem they are currently facing, and any registered member is open to answer them. The topic could range from general primary school science all the way to the thermodynamics learned in the university. The right answer is determined by the number of “up votes” which is given by other users and then verified by a professional eventually. The user will then be awarded with points based on the upvotes which can be converted into money.   

3) Standardizing a teaching platform throughout Malaysia. When this platform grows bigger and bigger, we could work with the government to make this website the standardized place for any government related syllabus resources as well as teaching platform.

4) Outreach platform for small business/Tutors who are unable to reach out to students due to the pandemic. As we all know, the pandemic had caused many business owners to lose their source of income and the same thing can be said for tutors and especially home tutors. How we plan on helping them is by providing them with potential clients whilst hosting the tutoring session on our platform. Our platform not only help connect tutors to students but also allow students to easily find the right tutor for them.

5) Providing access to quality education for those who are less privileged. There are free available resources on the site for the access of students. However, in the long run, we plan on opening up a special subscription plan for the students registered under the B40 status or the recipients of BR1M which allows them to access additional features with a lower subscription rate or even free.

 

Other Ways You Can Help

If you are interested in this campaign and wish to lend some helping hands in achieving the purpose of IdeaLab together and make an impact to the education industry, however, you are unable to raise some fund for us, no worries!! You can share our idea and our platform to everyone around you and spread it to the world and they might be able to help. Really appreciate it for everyone who has read until here. 

Have a nice day and all the best mates!!

PLEDGING

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