November 6, 2012
The ed-tech industry has boomed as new startups seek to improve the process of educating students and preparing them for the workforce. According to the Chronicle of Higher Education, in 2009, venture capitalists invested $150 million more into ed-tech firms than the previous year, despite the recession. LaunchNest was developed to take advantage of this trend and help ed-tech companies transform the way education is delivered through innovative technology.
LaunchNest will act as a crowdfunding platform specifically for ed-tech projects. It will also have a job portal to help ed-tech companies attract the right talent to develop their ideas. Its goal is to foster rapid growth in bringing new ed-tech ideas to market. There are millions of people across the world with great ideas to improve education who lack an easy way to collaborate with like-minded professionals. LaunchNest hopes to level the playing field by making it easy for anyone to get involved with ed-tech projects.
LaunchNest was developed to be a one-stop shop for people in the ed-tech industry. Founder Michael Caldwell explained, “We have developed an open innovation portal that helps facilitate the creation, development, and support of innovative education projects by establishing a community of innovators, producers, and consumers.”
LaunchNest was conceptualized when Caldwell realized the gaps in existing solutions that support ed-tech companies. In his current role as program director for a company that develops online learning, Caldwell noted there is a lot of duplication of resources in developing ed-tech solutions. He also observed that existing crowdfunding sites don’t adequately cover ed-tech projects and felt there was a better way to help professionals collaborate and share resources.
LaunchNest will be showcased at Tech Cocktail Boise next week, so check them out if you’re in town!
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