In 2005, fate brought together five young men at IIT Kharagpur. Excited about technology, they became very good friends by the time they passed out of the institute. “Fortunately for us, even before graduation, we had made up our minds that we didn’t want to take up 9 to 5 jobs and instead thought of starting on our entrepreneurial journey,” says Arpit Jain, one of the five. Their passion for innovation and belief about bringing change in education using technology led them to start two companies – Intinno Technologies and StudyPad, Inc.
Intinno Technologies started out by providing web and mobile based solutions to education institutes. Firmly rooted in the education space, the spring of 2010 brought along a new device that was to become the device of choice for learning — the iPad. “We immediately recognized that it was ‘the’ learning device, especially for elementary school kids. Common Core State Standards (CCSS) were also framed that year, and we made our bet, CCSS was going to be big in the US,” says Arpit. Through their IIT network, they got introduced to some angel investors in the US and that’s how StudyPad, Inc. was incorporated in the US in 2010.
The first Splash Math app for Grade three was launched in April of 2011 and as of today, Splash Math apps are being used by more than four million families and 25,000 teachers worldwide. On the Apple store, Splash Math has 13 apps (12 of which are individual grade apps, two for each of the grades k through 5)
Their latest app is Splash Math Grades 1-5, which provides math practice across all grades 1 through 5. They also have android apps on the Google Play Store and Amazon Kindle store. “Looking back, one could argue that we were in the right place at the right time, but I would say, it was our perseverance and the five of us sticking together that created opportunities for us,” says Arpit.
Talking about the revenue model, Arpit says, “We charge as little as $10 for a single grade and $30 for all grades, and provide more engaging experience for the kids.” They recently launched Splash Math Classroom Edition for teachers and it’s priced at $200 per classroom per year. With a team of 38 based in Gurgaon, Splash Math turned cash positive after three months of the launch of their first app. Talking about the road ahead, Arpit says, “We’ll be focusing and expanding within the education sector. We’re also looking to hire in our US office later this year.”
The ed-tech startup space in India is bubbling with energy because of which we also launched our annual conference for education companies- EduStars. Here are the winners from 2013 and companies like Harness Handitouch are doing some good work in the space.
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