An education entrepreneur is a mission-driven person who designs, builds, grows and sustains solutions to some of the world's most intractable education problems. This presentation affords some 'free' advice on how and where. The why, when and who come from you.
2. 1
Frank Bonsal: Educator, VC, MentorK-12Educator
• 1984-2001
• MS English &
History
• MS & HS Lacrosse
& Football
• 6 states & 3
countries
• Impact 1000s of
students
• NPO Boards:
Peabody
Vanderbilt
• M.Ed., Vanderbilt
• B.A., English
Teaching, UNH
VentureCapitalist
• 2001-2014
• 25+ education
investments
• 9 boards
• 11 realizations
• GP, New Markets
Venture Partners
• Partner, Bonsal
Capital
• NPO Boards:
Garrison Forest
School, Holderness
School, Irvine
Nature Center
• M.B.A., Vanderbilt
Mentor
• 2014-
• Director of
Entrepreneurship,
Towson University
• TU Incubator (8+
EdTech Cos)
• TU Student Launch
Pad
• NPO Boards:
Center for
Education Reform
(Chair), EdTech
Maryland, Gilman
School
3. Start with the Right Questions
2
Who are the Founders? (Domain expert, Business, Engineer,
Design) Is there abundant Passion, Credibility, Energy, Diversity,
Humility, and great Listening Skills?
Why are you doing this? Why now? What intractable education
problem are you solving? You will you go through a wall for
your end user?
Where will you start? Identify best market entrypoint(s) and
strategy to scale from there. TAM? Are you in a Startup
Ecosystem? Ample support?
How will you acquire customers? Identify your base business
model as applied to ‘who’ and ‘where’. Do you have business
model options?
4. Incubation
Seed
Series A
Series B
Series C+
Angels &
Incubators
($0-10M)
Micro VCs
($10-100M)
“Big” VC funds
($100-500M)
“Mega” VC funds
(>$500M)
Know the National Investor Ecosystem
3
Founders Bootstrap, Kickstarter, AngelList, Foundations, Economic Development
Source: Dave McClure’s Changes in Venture Capital and Startup Ecosystems and Building Startup Ecosystems
5. Choose Your Ecosystem Wisely
4Source: Dave McClure’s Changes in Venture Capital and Startup Ecosystems and Building Startup Ecosystems
9. Test & Accelerate with an Incubator
Evolving Players
Leading EdTech Accelerators
8
Leading Industry-Agnostic Tech Accelerators
10. Know Seed / Early Capital Alternatives
Community & Economic Development
Foundations
9
Crowdsourcing & Angel Groups
11. Collectively, the above firms have made over 150 education
investments since 2009.
Seed Early Growth
Build Relations with VCs
10Sources: CB Insights: EdTech’s Most Active Venture Capital Investors Since 2009 and EdSurge Investors.
12. Top 5 EdTech VCs & Ones to Watch
11
Seed Early Growth
Ones to Watch: The 4 firms above have stepped sincerely into edtech
in last 12-24 months at preferred entrypoints and bite sizes.
Each of the 5 venture firms below has…
15+ EdTech Investments Diverse ‘Institutional’ LPs>30% Assets in EdTech
14. Questions? Comments?
13
• The Office of Education Technology
• League of Innovative Schools
• LEAP Innovations (Chicago)
• iZone NYC (New York)
• TU Incubator (Baltimore)
• Frank Bonsal, @FrankBonsal