SEOUL, South Korea, Feb. 4, 2021 /PRNewswire/ -- MagniLearn, a leading Israeli ed-tech company that is transforming English learning with purely personalised technology announced a partnership today with Korea's "The Education Company", a leading network of schools with over 5,000 students throughout Korea and with Kim Venturous as a local strategic partner.
MagniLearn, founded by world-renowned leaders in the fields of AI, Neuro-Science and Cognition from the Hebrew University of Jerusalem, has targeted Korea and Japan as key strategic targets for its expansion in Asia. MagniLearn's VP of Business Development, Hadar Abramovich, is located in Seoul to prioritize its expansion in East Asia.
More than 1.5 billion people study English as their second language. In Korea parents spend on average $4,500 per year on private education per child or a total of $17B per year. English private education expenditures are increasing 10% each year.
Despite this investment, few students will gain even a moderate level of fluency, and only a tiny fraction will master English.
Israel Ed-Tech firm MagniLearn has changed that. "In just 5 weeks, students using MagniLearn's platform have covered more than 50% of the full year's curriculum," said Lana Tockus, CEO of MagniLearn. "They are learning about 3 times faster with 97% of students demonstrating dramatic increases in proficiency" she said.
One parent said "MagniLearn knows exactly what to teach, at exactly the right pace-including vocabulary, grammar and pronunciation."
"There are lots of language learning solutions out there but no one has truly applied an AI-Neuro-Science approach to online learning," said MagniLearn's CEO.
When asked what's next, MagniLearn's CEO said "Our unique technology makes it easy to adapt to any school's textbook. More than that, we can teach other subjects like science, economy, or medicine in English at the same time that the relevant English skills are taught. This area is called Content and Language Integrated Learning, or CLIL, and with AI it will revolutionize language learning."
MagniLearn is backed and funded by the Israel Innovation Authority, Labs02, OurCrowd and Reliance Industries. With formal approval from the Ministry of Education in Israel.
Special subsidies are currently being provided for the first Korean schools wishing to adapt this science-based learning solution. MagniLearn is also accepting offers from potential partners and customers in the Private School, Public School, Hagwons and University sectors.