“The value of education is not the learning of many facts but the training of the mind to think.”
Albert Einstein
Service improvement conference 2018Designing new business models
curio.co
Dr David BowserFounder & CEO
David Bowser
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Neuroscientist and consultant
Melbourne – PhD NeuroscienceCambridge – Chief Investigator and FellowMelbourne – A/Prof NeuroscienceNous Group – Principal, Education sector leader, Innovation practice lead, acting MDCurio – Founder and CEO
Our company profile Curio is an education consulting, learning design and platform development and hosting organisation established in 2016We seek to bring together the creative and curious for human improvement, driven through the power of education and research.
Making the Australian Financial Review’s Top 100 Fast Starters 2017,2018 list and awarded the Education Technology Leadership award at the 2017 World Education Congress, Curio works in education, technology and its related sectors.
We advise education providers, corporate L&D and research
organisations on their strategy and people.
We develop, host and maintain platforms and embrace technologies
that make education more efficacious and efficient.
We review curricula then design, develop and deliver learning
experiences through an understanding of how the human brain learns and
develops.
Strategy & people consulting Digital platforms & apps Learning transformation
Our company profileCurio also owns and operates three education start-up companies
• Opus (opusapp.co) is a tool for modelling and managing academic workloads across schools, faculties and universities.
• Palette (palette.curio.co) is a custom built storefront for CanvasLMS.
• Academy (academyed.co) is an outsource provider of higher education and corporate training for universities and companies under their brands and within their governance structures. Since establishment in late 2016, Academy has delivered 90 postgraduate courses to over 4,500 students with 60+ educators and trainers.
• Sessions (mysessions.co) is a marketplace for sessional academics and educators to find teaching and training opportunities. Established in early 2016 and re-launched in early 2018, Sessions has up to date profiles of 15,000 academics and subject matter experts.
• Digi-T.A.L. (digi-tal.education) is a not-for-profit platform for coordinating support and empowering students. Based on the “Team Around the Learner” approach, it recognises that students with special needs require an interdisciplinary team to maximise learning outcomes. DIGI-TAL
Our reason for being
We are scientists, advisors, philosophers, futurists, designers, and product developers who are shaping the future of organisations in three ways:
1. We collaborate with multiple organisations to co-create and design innovative business models, carry the idea through to co-design, and make the model a reality in the market.
2. We advise established organisations on strategy and people so they are ready when new players disrupt their industry.
3. We create our own products and services out of our own curiosity that meet real-world needs.
From advisory to platforms and service delivery
What do you want from the session today?
Designing new business models
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Agenda – Thursday 31st November
11:45am
1:00pm
What is a business model?
Business model canvas
Business model tools and frameworks
Design thinking / prototyping
Application in higher education
11:50am
12:10pm
Close
Empathy maps
Business model pitch12:40pm
What is a business model?
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A plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.
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Human centered design
Curio uses the human-centereddesign approach championed by the Stanford D.School across our platform development, consulting and education businesses.The approach means that we seek to deeply understand our users in order to to create a solution that is feasible, viable and above all desirable while balancing the needs to meet timelines.We understand that design is not a linear process and constantly iterate and re-visit the empathise stage when needed.
Divergent process with a focus on exploration and
research
Convergent process that tests the solution against existing process
Design and develop a prototype, test and
refine over and over again
Embed the platform intothe ways of working, learning and analytics
Discover Define Design Deliver
Source: UK design council
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Business Model Canvas
PRODUCT
GAINS
PAIN RELIEVERS
GAINS
NEEDS
PAINS
Value Proposition Customer need
Value proposition development
Persona
Name:
Age:
Job:
Location:
Education:
About
Thinks Feels Sees Does
Empathy map
WHO are we empathising with? What do they need to DO?
What do they need to SEE?
What do they SAY?
What do they DO?
What do they HEAR?What do they THINK and FEEL?
PAINS GAINS
The Business Model Canvas
Cost Structure• What are the most important costs inherent to our business model?• Which key resources are most expensive? • Which key activities are most expensive?
Key Partners• Who are our key
partners?• Who are our key
suppliers?• Which key resources
are we acquiring from our partners?
• Which key activities do partners perform?
Key Activities• What key activities do our
value propositions require?• Our distribution channels?• Customer relationships?• Revenue streams?
Key Resources• What key resources do our
value propositions require?• Our distribution channels?• Customer relationships?• Revenue streams
Customers• How do we get, keep and
grow customers?• Which customer
relationships have we established?
• How are they integrated with the rest of our business model?
• How costly are they?
Customer Relationships• How do we get, keep and
grow customers?• Which customer
relationships have we established?
• How are they integrated with the rest of our business model?
• How costly are they?
Channels• Through which channels do
our customer segments want to be reached?
Value Proposition• What value do we deliver
to the customer?• Which one of our
customers’ problems are we helping to solve?
• What bundles of products and services are we offering to each segment?
• Which customer needs are we satisfying?
• What is the minimum viable product?
Revenue Streams• For what value are our customers really willing to pay?• For what do they currently pay?• What is the revenue model?• What are the pricing tactics?
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Problem: • Students need work experience• Universities don’t know how to
find them• Employers are interested but it is
all too hard.
Existing alts: • Individual academics negotiate
opps for their students• Students find their own opps
through family and friends• Ribit a free platform by Data61
for IT• Career lounge - no platform• Some industry bodies• Some govt departments.
Solution: • Make it easy for employers is
the hurdle• A way of compensating
employers ($ or other)• Universities can monitor and
assess student progression• Students get real experience
Metrics: • Number and FTE of
employers on the platform• Opps created • Opps filled
Unique VPStudents can find opps, manage applications, monitor achievement of learning outcomes.Employers can manage placement opps across their business on one platform.Institutions can moderate oppsand create opps that match employers needs and learning outcomes across many disciplines.High level conceptDomus = A job board for students with academic moderation.
Unfair advantage• Partner with a leading job
board• Knowledge and connections
in university engagement• Awareness of current
environment to support Domus.
Customer segments• Large internship providers
across all sectors• Large health, education orgs
that provide internships• Universities looking to lead
in WIL (below G8)• Students in professional
courses for internships and others for placements.
Channels• Online platform for opps• Brokering service for
employers and universities• Smartphone app for student
engagement and progress review.
Early adopters• Small tech companies• Agile universities
Monetisation model• Universities currently pay on a small scale for heath and
education placements from tuition fees and can from other courses with appropriate academic oversight and assessment.
• ~$2,500 per student subject (filled opp). Uni takes 20%. 15% in observers (casual academics). 15% dev. 10% marketing. 30% retained earnings.
Cost structure• Development cost, $0.5m. • Uni takes ~20%. Overheads and academic oversight. Includes one subject per course per student.• 15% in Domus . Casual academics or voc ed assessors (C4 TAE) from Sessions that can oversee student
progression remotely and be a partner for students on the job (4 hours per student plus 4 hours of assessment, $430. Each would look after 20 students).
• 10% on marketing and sales to employers and universities.• 5% corporate overhead.
Business model: Improved work integrated learning
Business model: Sessions (circa 2015)
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Short courses, intensives and immersive courses in research commercialisation and start-up science.
PRODUCT
GAINS
PAIN RELIEVERS
Program matches development cycleTeams matched to informed coaches/mentors
On-campus delivery with peersDedicated discipline programs1-day per week commitment
GAINSProgram fits into researchProgram is on campus, not offsite
NEEDSKnowledge of how to find/create a market; test, create a value proposition, and scale.
“I don’t know if there is a market for my research?”“Who can help me?”“I don’t know what I don’t know!”
PAINS
Value Proposition Customer need
Further sources
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