SANTA CLARA, Calif., May 19, 2016 /PRNewswire/ -- University of Pennsylvania hosted its 7th Milken Penn GSE Education Business Plan Competition this week. The conference has attracted high caliber ventures, education thought-leaders, venture capitalists, teachers, publishers and major education foundations.
Over 250 startups from around the world applied to this competition and only 20 were selected to pitch at this event. Many competing startups focused on STEM education, low-income students' empowerment, classroom innovation and experiential learning. Among many partners, this year's conference was supported by Milken Family Foundation, iTutorGroup, University of Pennsylvania and others.
Dr. Ming Yang & Dr. Eric Yang, co-founders of iTutorGroup, personally contributed to this conference from their personal Founders' fund. Both of them started their company when they were still at Harvard Business School and therefore they share a deep understanding for what it is like to start a business as a young entrepreneur.
Eric Yang says: "We believe that there has to be a better way for people to communicate and share knowledge beyond the traditional brick and mortar school method. That is why we are keen supporters of innovators in the education space."
Being innovators themselves, they have implemented big data driven DCGS (Dynamic Content Generation System), a patented algorithm that caters to the individual learner's background and needs by adaptively matching the learner with the most relevant lesson plan and the most suitable tutors. This innovation has enabled iTutorGroup to achieve true scale and significantly influence students' performance outcomes.
Some of the most disruptive and innovative startups that were featured in this competition were Bibliotech, Caseworx, Pivote Interactives, SBC. The key message of this conference was strong advocacy for use of big data in education which will become a game changer in parents' engagement in education and thus lead to higher efficacy rates.
Despite many challenges that ed-tech ecosystem faces, we can see a big promise in entrepreneurs that come out of competitions like this one. Many of them are experienced teachers, pedagogics themselves and therefore they understand the pain points of this industry well.
With more than 5,000 teaching consultants in 60 countries around the world, iTutorGroup is the largest online education platform that provides real-time interactive language training and easy access to experts on-demand through tens of millions of classes annually.
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