IncubatED – Moving things on …

This is a thought piece I would love comments on. I think that there is something in IncubatED as a way of harnessing all the thoughtful and potentially game-changing ideas coming from teachers around the work. Please do let me have your thoughts and don’t hold back!!!!

Overview

IncubatED is a proposal for a virtual organisation that supports teachers who are developing online resources and software for the UK (and beyond!) schools system. Providing business, coding and marketing advice, this for profit company would take ideas on paper from practicing teachers then: create a sustainability model (not necessarily paid-for software) and plan, provide finance and expertise to code the idea, while looking for possible routes to market direct or via partners.

Why?

• Practising teachers who have great ideas about how to move their students on using technology are by definition involved in a 9-5 role already.
• These teachers rarely have the business experience or training to turn their idea into a profitable business (though, of course, there are notable exceptions) and if they do then they move away from the classroom rapidly.
• Publishers and businesses struggle to find real innovation in their organizations that come directly from teaching and learning experience.
• The search for suitable authors and writers is a long and costly one for many companies and often relies on chance meetings.
• Test marketing software (especially online resources) is difficult, if not impossible and therefore publishers are less likely to take a chance on these ideas.

How?

Speed to market is essential with software and therefore there should be some tight time limits placed on each product and idea. (1 year in total)

1)   Submission of 1 page concept document that explains the purpose of the software – key features should be left out until NDA signed but a clear idea needs to be given about the nature of the product. (Start)

2)   NDA signed by both parties. (1 week)

3)   Meeting between teacher, business leader and coder to discuss product further including business model, key features, scope of product. Designed to iron out the key issues of the product. (1 month)

4)   Contract signed. (6 weeks)

5)   Business Plan created, beta version created (funded by IncubatEd and possibly other partners), marketing plan begun. (3 months)

6)   Beta Version Launched – trial schools identified, comments forwarded to development team and teacher. (6 months-9 months)

7)   Decision about next steps made: (1year)

1. Independent Company
2. Sell or JV with partner.
3. Put into Deadpool.

So what’s in it for me?

Teachers, business managers, financiers and coders all will have a vested interest in each product. It is therefore important to ensure that any return on a product or service reflects the intellectual property and ‘sweat’ contributed.

Suggested financial model (after all costs re-couped).

Teacher 65%

IncubatED 35%

This would be a royalty split if taken on by a third party or revenue split if for an outright sale.

Filed under: Blog entries by ben