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Technological advancements today have changed the way we communicate, educate, carry out financial transactions, the way we shop, and numerous other horizons of our lifestyle. To create the kind of technology that can solve both access and quality problems associated with the education sector across the world Amit Bansal launched WizKlub in 2018.
Hailed as an innovation platform for kids, WizKlub offers a wide range of ways to nurture complex and critical thinking in the minds of children between 6 and 14 years of age in a simplified way.
Here's the success story of WizKlub that includes everything about WizKlub, its Founders and Team, Startup Story, Business Model, and Revenue Model, Challenges, Funding and Investors, Growth, and more.
WizKlub - Company HighLights
| Startup Name | WizKlub |
|---|---|
| Headquarter | Bangalore |
| Sector | ET Tech |
| Founders | Amit Bansal |
| Founded | 2018 |
| Parent Organization | WizKlub Learning Pvt Ltd |
| Website | wizclub.com |
WizKlub - About and How it works
WizKlub - USP and Innovation
WizKlub - Target Market Size
WizKlub - Founders and Team
WizKlub - Startup Story | How did it start?
WizKlub - Mission
WizKlub - Name, Tagline, and Logo
WizKlub - Business Model and Revenue Model
WizKlub - Funding and Investors
WizKlub - Growth
WizKlub - Startup Challenges
WizKlub - Competitors
WizKlub - Future Plans
WizKlub - About and How it works
WizKlub is a research-based education company that has combined technology with research in cognitive learning to empower K-8 students with smart reading and problem-solving programs and skills required to succeed in the coming decade. WizKlub’s HOTS and SmartTech programs develop cognitive skills in children aged 5-15 years through an AI-powered tech platform that delivers a personalized learning path for every child.
WizKlub’s vision is to provide high-quality education to school children through advances in science and technology and impart skills needed to succeed in the future along with creating a million thinking minds who are lifelong learners, adept problem solvers, and would build technology for a better future.
WizKlub offers a wide array of products including:
- HOTS – Higher Order Thinking Skills across Comprehension, Critical Thinking, Logical Reasoning, and Problem Solving. The WizKlub HOTS Program develops higher-order thinking skills to ensure that every child is a smart reader and a smart problem solver.
- YPDP - The Young Product Designers Program offered by WizKlub is designed to help children build and code tech products.
- Connected Learning (STEAM Learning) - The Connected Learning for Kids, as offered by WizKlub, helps children between 6-14 years learn an integration of Science, Technology, Engineering, Art, and Math, which is designed to nurture co-curricular activities in them.
- Alexa Skill Development for Kids - This wing that helps kids learn programming, empowers them with Blockly-based WizKlub's Voice Developer Tool, which will help them build their own Conversational AI - Alexa Skill.
- Machine Learning for Kids - This program of WizKlub extends adequate knowledge to the children to help them build their own Machine Learning engine.
- Wiz Web Design for Kids - The Web Designing program of WizKlub helps the children to learn the basics of web development with HTML and CSS.
In the coming future, it is expected that 7 out of 10 school-going students would be working on roles that don’t even exist today. The implication is that these students would be required to solve NEW problems. Further, this generation needs to be lifelong learners as technology is changing every industry making the roles obsolete every 3-4 years. However, more than 90% of the students in the Indian school system learn and solve problems using “Rote Memorization” which means that they would be a misfit for the workforce in the coming decade or may end-up doing extremely low-end tasks.
WizKlub products solve this problem by raising the core aptitude of every child and making them smart learners and adept problem solvers. The students of the WizKlub system are trained to become Creators of Technology than just being passive consumers of technology.
Ashwini
WizKlub - USP and Innovation
The USP of the WizKlub products are as follows:
- Product designed with research in Cognitive Learning.
- Personalized learning path for every learner based on existing levels.
- Hybrid learning cutting across facilitator, app, and conversations through Artificial Intelligence.
- Hybrid learning environment cutting across facilitator, app, and conversations through Artificial Intelligence.
WizKlub - Target Market Size
WizKlub is targeting k-8 school students. The k-12 supplementary education sector in India itself is $15 billion (Rs 100,000 crores). Several k-12 students are 350m and half of them are in the k-6 segment itself. According to a report by KPMG in India and Google, the online Education market is expected to cross $2bn by 2022 and $4bn by 2025.
WizKlub - Founders and Team
The founder and CEO of WizKlub is Mr. Amit Bansal. Other team includes Manohar Kashyap, Jaspal Singh, Swarup Vijh, and Pramod.
Amit Bansal
Amit Bansal is the Founder and CEO of WizKlub. Amit has a Master's degree in Marketing from XLRI, Jamshedpur. Before founding WizKlub, he was an Advisor at IndiQube. Also, this is not his first startup, before WizKlub, he has also co-founded startups like Xcelerator and PurpleLeap.
Swarup Vijh is the Senior Vice President. He has a Master's degree from the University of Pune. Swarup was working with iStar as a National Operations Head before collaborating with WizKlub. Vijh held some other key leadership positions in several organizations including Pearson Education, ICFAI, HED-X, GMMCO, and more.
The startup onboarded Pankaj Bande (Jain) as its Chief Technology Officer (CTO) on May 4, 2021. Some other notable employees of WizKlub are Manohar Kashyap, Jaspal Singh and Pramod N.
WizKlub - Startup Story | How did it start?
This EdTech company for School Children is the third EdTech venture of this team. The earlier two ventures were in the higher education space where the team worked with over 50,000 engineering students across India. “We realized that at that stage we could create the maximum impact by skilling students on specific tools. However, at that age, the basic aptitude of a student is pretty much cast in stone and cannot be changed significantly. So, if a student does not have programming aptitude, one cannot be trained to become a good programmer.” Said Amit Bansal.
More research established that the core aptitude of a person that defines one’s suitability for different career roles is pretty much defined in the first 12-13 years of their life. And unfortunately, the Indian schooling system is still focused on curriculum, instead of focusing on core aptitude that makes one smart learner and adept problem solver. Hence the team decided to address this issue by providing a scientific program to build these skills when the age is right. They worked on the product for 6 months including prototyping and pilots to establish product efficacy. The product has an 83% efficacy rate which is quite remarkable for a learning product.
Rishabh Rathi
WizKlub - Mission
"WizKlub is on a mission to create a million thinking minds," says the mission statement of the company.
WizKlub - Name, Tagline, and Logo
The logo of WizKlub is essentially centered around a tick mark which denotes students making the right choice. WizKlub is a club of Wizards. Essentially, the creators of tomorrow are the wizards of the future. They are going to look like they have magic powers compared to everybody else.
WizKlub - Business Model and Revenue Model
The business model of WizKlub is subscription-based and the investment ranges from 10k to 25k per year depending on the program.
WizKlub - Funding and Investors
The funding amount of WizKlub stands at $1.17 mn (Rs 9 crores), which was raised via an Angel round followed by a Seed round that poured in Rs 2 crore and Rs 7 crore respectively.
WizKlub has last raised a seed round of funding of Rs 7 crore, which was led by Incubate Fund India with participation from Insitor Impact Asia Fund. The company planned to use the fresh capital for product and market expansion.
| Date | Stage | Amount | Investor |
|---|---|---|---|
| January 2020 | Seed | INR 7 crores | Incubate Fund India and Insitor Impact Asia Fund |
| January 2019 | Angel | INR 2 crores | Saurabh Chandra, Hardeep Singh, Pankaj Goel, and Pradeep Singh |
WizKlub - Growth
WizKlub’s distribution model is centered around neighborhood facilitators who impart the program to the students in the apartment or community areas. The team launched the program through events in these apartments and found the early adopters. The customer experience and product efficacy have been extremely important to the team ever since its inception, and the growth has been through positive word-of-mouth from our existing users. “We have moved the core aptitude (IQ) of more than 3000 students!” says Amit Bansal.
The startup has 150+ centers in Bengaluru and has progressed 3000+ children through its programs. The company also offers HOTS and SmartTech programs on a subscription model and is on track to on-board 10,000+ children over the next few months.
WizKlub - Startup Challenges
One major challenge that WizKlub faced initially was that the product was delivering results in terms of improved learning and problem-solving aptitude but ONLY those parents who were involved with their kid's learning journey were able to witness the results. The involved parents could see that the child has become an active reader, can read between the lines, is asking intelligent questions, is more inquisitive, is not scared of unseen problems, which was not the case before joining the program. However, the other set of parents were not able to appreciate the difference as they were expecting results in terms of visible output. The team solved this problem by demonstrating the improvement of the world's most popular IQ test for children, WISC ( Weschler’s Intelligence Scale for Children). They were able to demonstrate similar efficacy of 85% improvement on the third-party assessment WISC as well.
Vidhi Punamiya
WizKlub - Competitors
WizKlub competitors include edtech startups like:
- Byju's
- WhiteHat Jr.
- Classplus
- Unacademy
- Curious Jr.
WizKlub - Future Plans
WizKlub is planning to grow further in the boom of the edtech startups that we are witnessing in India. The startup is also planning to hire 150 more tutors to enhance its learning programs.
FAQs
What is WizKlub?
WizKlub is an Edtech company that caters to the K-12 (kindergarten to 12th grade) segment focusing on developing skills in children that will help them succeed in competitive exams and beyond.
Who is the founder of the Wizklub?
Amit Bansal is the founder of WizKlub.
What is HOTS Olympiad?
HOTS Olympiad is the World's First Olympiad series that focuses on the Core Aptitude and IQ of a student. HOTS Olympiad is designed by Practitioners working in the area of Cognitive Excellence for children in classes 1 to 8.
Source :- https://startuptalky.com/ Author :- Shubham Kumar Date :-April 14, 2022 at 11:00AM