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ERIC Number: EJ1032990
Record Type: Journal
Publication Date: 2014
Pages: 9
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-1539-9664
For Education Entrepreneurs, Innovation Yields High Returns
Petersen, Julie Landry
Education Next, v14 n2 p8-16 Spr 2014
Education entrepreneurs create either a for-profit or nonprofit enterprise, based on their fundraising needs, the revenue model that will suit their product or service, and the employees they hope to entice. Those who take the for-profit route face mistrust on the part of policymakers and many parents, and for-profit ventures have consequently been prevented from participating in federal grant programs like Investing in Innovation (i3) and barred from operating charter schools in some states. By most accounts, the economics of education investing are changing. Schools are now wired and have accountability incentives to invest in technology to boost student achievement, while teachers are ready to experiment with new tools. For start-ups, hardware costs have come down and software is cheaper than ever to develop. Today's education entrepreneurs and the investors who back them believe they can avoid the mistakes of their predecessors and find their place among the 20 or so percent of companies that succeed. In this article, the author looks at three entrepreneurs who have recently succeeded, with an eye toward understanding what made them successful and what that might provide insight about the future of innovation in education. These companies have all exited in the last five years, bringing in hundreds of millions of dollars and earning sizable returns for their investors and their founding teams. What can be learned from these companies and what it takes to have a significant impact on K-12 education is examined.
Hoover Institution. Stanford University, Stanford, CA 94305-6010. Tel: 800-935-2882; Fax: 650-723-8626; e-mail: educationnext@hoover.stanford.edu; Web site: http://educationnext.org/journal/
Publication Type: Journal Articles; Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A