Report on

“TechBook – An AR-VR based learning experience”

In partial fulfillment of Course:

Understanding Entrepreneurship

Submitted by:
Group 3 - Section B
Nikhil Dayma - P19069
Eina Gupta - P19073
Saisanyog Lahane -P19084
P Krishna Chaitanya - P19091
Fareed Ahmad - P19098
Shilpa Singh - P19101

Date of Submission:
18th November 2019
Ideation:

“Education is the key to a better life for every child and the foundation of every strong society –
but far too many children are still being left behind. To realize all our development goals, we
need every child in school and learning.”

-- Anthony Lake, Executive Director, UNICEF

In today’s world, human capital is considered a valuable resource for any economy and quality
education plays a crucial role in developing the quality of the aforementioned resource.
When we, as a team, were brainstorming about the idea, education was the domain where we
wanted to contribute through our entrepreneurial idea. To select the specific aspect of
educational domain we decided to use design thinking tool. We used initial three steps of design
thinking to come out with value proposition for our idea. The steps are as follows:

● Empathise: As a student we all struggle to remember the concept. So we wanted to help

students so that they could easily grasp the concept.
● Define the problem: Through our research we learnt that students prefer different learning
styles to grasp the topics. Some learn by reading, some learn by writing, while some prefer
some other way to learn. We found that approach was a big aspect that determined
students understanding the concept. The problem statement was to figure out the best
approach for students to learn the concept.
● Ideate: .Research has proven that the most effective way to remember the concept is to
learn by trying the concept. Therefore we wanted to provide a service which would help
them try the concepts they learnt. We figured out that simulation could be a tool that could
provide students with an experience of hands-on on the stuff they had learned. Therefore
we decided to use virtual reality (VR) and augmented reality (AR) to meet our purpose.

Based on above analysis above our idea was to use VR, AR technology to provide better learning
experience for students preparing for medical and engineering entrance examination.

Sustainable Development goals (SDG):

As our idea is aligned with the Quality of Education Goal, we have strived to comply with the
targets defined for this goal.

● By providing AR - VR technology, we are ensuring equal access of educational

technology for all who are in need of affordable and quality technical education which is
in accordance with the target goal of providing good quality of technology based
education without discriminating based on gender, region or any other bias.

● Also, by our training program for instructors, we will be able to supply qualified teachers
through international cooperation in developing or least developed countries which is
also an important target goal listed in Quality of Education SDG and is envisioned to be
achieved by the year 2030.

Value proposition canvas

● Customer profile value map: Our customer i.e. students wish to get admitted to esteem
universities for their higher education. To achieve the same they need to crack
competitive exams. Also, they need to have proper understanding of subject concepts as
those concepts are the foundation for their further studies. The pain of the students is to
understand these concepts effectively and crack the exam. Some students easily crack the
exam while some other struggle because of lack of proper learning style.
● Product and service value map: Our product TechBook will contain simulation using
AR, VR technology that will provide students with better learning experience that will
help them crack the competitive exam and also help them learn the concepts effectively
using kinesthetic learning style.
Key Partners Key Activities Value Proposition Customer Customer
Relationships Segments
Schools, Platform Access to good
development, quality education Live online classes
Educational maintenance and and doubt clearing
Institutes, management, Provide fun and sessions, Students,
marketing and interactive
Government, promotion, 24X7 Support Parents of
environment for
customer service, center through students,
Teachers, easier and faster
content creation, email, chat, call
Professors, learning centre Educational
Parent Forums Regular updates
Crack competitive Institutes

Managing the exams

Learning
Score higher and
Community
get good grades

Engaging content
and retention

Key Resources Channels

Content, Teaching Advertisement on

Staff, AR/VR social media,
Tech Experts, television,
Websites
Interactive
Graphics Sales professionals

Conferences and
events

Cost Structure Revenue Streams

Equipment, Content Creation, Salaries, Sale of equipment and Subscription fee

Platform Development, 24X7 customer
service, Platform maintenance and
management, Marketing
1. Customer Segments:
We at Techbook want to cater to every student in need and who wants to get his/her
concepts clear but at the same time as the product is priced at a premium cost our main
customer segments are the students and parents who can afford to pay such a premium.

2. Value Proposition:
Techbook aims to provide access to good quality education and aims to provide an
interactive environment for easier and faster learning to crack competitive exams by
making the students visualise and understand the fundamentals clearly.

3. Channels:
The following are the set of channels that Techbook plans to utilize to channel and
market its technology:
Advertisement on social media
Television Ads
Sales professionals
Conference, Fests and Events

4. Customer Relationships:
Along with live online classes and doubt clearing sessions we at Techbook provide 24X7
customer support through email, chat and through call centre.

5. Revenue Streams:
Techbook’s main revenue stream is mainly the sale of its flagship equipment to the
student community, the money earned from the sale of equipment to the students and
educational institutes is the major revenue stream. The secondary revenue stream is the
money earned from subscription service of our premium products.

6. Key Resources:
The key resources of Techbook are the cutting edge AR/VR technology, the unmatched
content coupled with AR/VR tech and interactive graphics will help students to
understand the topic faster.

7. Key Activities:
The key activities of Techbook includes platform development which is vital for the
success of the product, attractive platform is necessary to keep the stakeholders
engaged and make the user experience smoother.
The content created should be of high quality to stand out from the competition and
regular updates should be released depending upon the needs of the learning
community. The learning community should be managed with utmost care and customer
service is of prime importance in order to retain the customer and to keep them happy.
8. Key Partners:
Key partners of Techbook are the schools and other educational institutes who will
consume our product by recommending it to their students. Other key partner is parent
forums who are searching for the best products to improve educational standards of their
children. Apart from these Government is a Key partner, it can help needy students by
providing subsidies on our product after successful tie up.

9. Cost Structure:
The current market for our product is ₹5250 crores. Even if we target 1% of the market
then we are able to generate sales of ₹52.5crores, which means capturing 7000
students in the first run. So, our costs would run into ₹6crores in the initial run in the
given below split:
● ₹1crore for the creation of content.
● ₹1crore for infrastructure which will act as a fixed cost.
● ₹3crores for the equipment(we believe we can cut the costs down further)
● ₹50lakhs for SG&A Expenses
● ₹50lakhs for Miscellaneous Expenses
Environment Map

Market Forces:

● Key customer issues in our arena is the visualization of concepts and not getting a hands-
on experience in understanding the core concepts involved in Sciences.
● The customer segment in this space is increasing as students and parents alike want the
best.
● There won’t be any major switching costs incurred because a competitor like Byju’s
charges ₹80k for the minimum variant and we at Techbook charge around ₹75k.
● The market issue is that no company has yet addressed the issue of making concepts clear
for those preparing for higher studies using AR/VR kits.

Industry Forces:
● The main stakeholders involved are the students who are appearing for Undergrad
competitive exams. The other stakeholders involved are the component manufacturers for
the AR/VR devices.
● The main competitor is Byju’s even though they are not into AR/VR segment, the
customer segment they target is the same.
● There might be a threat of new entrants as many other start-ups are working on AR/VR
simulation so they might try to venture into this market in the near future.
● The substitutes to this model is the conventional coaching classes and other online
educational platforms.

Macro-Economic Forces:
● India is rapidly developing a “middle class”, who are suddenly able to spend more on
education without any compromise on the quality. The parents don’t think about the
slow-down in economy or the increasing prices when it comes to education.
● The approximate cost to be incurred in procuring the VR set and developing the content
is around ₹1crore which will be a one time cost for the company.
● It is very easy to obtain hardware components for AR/VR sets. However, implementation
of this idea using AR/VR is something never explored before and it is a challenging task.
There are many facilitators and tutors available in the market and attracting this talent
will not be very troublesome.
● Developing this content is one time affair and very little effort is involved in
maintenance.
Key Trends:
● Almost every arena in life is going digital and education is no different. The
technological innovations are making learning easier and much more streamlined. The
Augmented reality and Virtual reality segments in education are untapped till now.
● Many conventional educational methods are becoming irrelevant, there is a significant
chunk of population which has adopted digital methods of learning and many more will
board this wagon.
● AR/VR, Video based learning, gamification and simulation based learning are the trends
of the present and near future.
● Visual and digital content would be more in demand rather than anachronous theoretical
content.
Hypothesis Testing Plan
Process: Test your value proposition

For our product TechBook, we will be carrying out surveys to verify the following hypothesis.
Since we have more than one customer segment, partners and activities, we have more than one
hypothesis.

● Hypothesis 1: - Customer Segment

● Statement: We believe that the students of standard 11th and 12th preparing for medical
entrance examination will use techbook to gain better learning experience using
simulation

● Test: We will test this by interviewing around 30-40 students from various coaching
classes preparing for their medical entrance exams.

● Analysis: We are right if more than 80% of the students interviewed say that they would
prefer simulation as a tool to study over video lectures.
● Hypothesis 2: - Customer Segment

● Statement: We believe that the students of standard 11th and 12th preparing for
Engineering entrance examination will use techbook to gain better learning experience
using simulation

● Test: We will test this by interviewing around 30-40 students from various coaching
classes preparing for their engineering entrance exams.

● Analysis: We are right if more than 80% of the students interviewed say that they would
prefer simulation as a tool to study over video lectures.

● Hypothesis 3: - Customer Segment

● Statement : We believe that the 35 parents of students preparing for medical or

engineering exam will be willing to pay 70000- 80000 Rs to provide better educational
experience using AR-VR technology.

● Test: We will test this by interviewing the parents of the students preparing for medical
and engineering entrance exams.

● Analysis: We are right if more than 60% of the parents interviewed say that they view
this product as a cost effective alternative to the expensive online study videos and online
study material.

● Hypothesis 4: - Key Activities

● Statement : We believe that developing the software with all the features we idealize is
feasible in technical as well as economical terms.

● Test : We will test this by interviewing 10 IT professions having experience in software

development on content creation Learning Management Systems(LMS) platforms.

● Analysis: We are right if at least 70% of the IT professionals interviewed say that the
product Techbook is technically feasible and also economically viable.

For the above statements, we are using basic hypotheses because knowing customer and
feasibility of the project with regards to product utility will provide us the liberty to modify the
product features if the hypothesis fails. And by using specific hypothesis to know the
willingnessof the customer (parents) to pay the mentioned amount for the product and if the test
hypothesis test fails, we will have to rework on the value appropriation provided to the
customers.