Last night I had the opportunity to attend the launch event for New Schools Venture Fund SeedFund, the most recent endeavor of dynamic duo Wayee Chu and Jennifer Carolan, who also spearheaded the EdTech Lab at Stanford this time last year. With the team at NSVF, these two have spent years encouraging and investing in entrepreneurs passionate about building tools and systems to help all kids have access to a high quality public education. Jennifer’s most recent blog post shares the thought process behind creating this seed stage funding opportunity and how supporting these entrepreneurs early on has the real potential to improve the struggling K-12 education system. The event attracted an impressive audience of VCs, angels, entrepreneurs and members of the community that have devoted their lives to improving education outcomes for all kids. The highlight for me was Jennifer and Alan Louie, from Imagine K-12, kicking off the event with some compelling reasons why the timing is right to truly change education now. The stars have aligned in the following ways:
- Technology: Current infrastructure (ie. AWS, Rackspace) makes it easier than ever to build a startup and pc/tablet penetration is increasing ( there is a 3:1 ratio of kids to computers (on avg))
- Talent: 40% of teachers are under 30 years old and feel very comfortable using technology in the classroom
- Common Core is laying the framework to consolidate learning goals/standards across the country (adopted by 43 states already)
- Budget constraints: strapped districts, now more than ever, are looking for tools/systems to help them do more with less
I think another big point related to technology that was not mentioned is the availability and ability to use data in a meaningful and actionable way to drive personalized, self-paced learning to meet kids where they are and help each of them succeed on their own timeline.
Overall, I love the optimism and forward-looking tone of the evening, especially when it’s so easy to get dragged down by the history of education reform and all the strategies that have been unsuccessful in the past. The night continued with presentations from the first three companies in the SeedFund; Goalbook, Engrade and LearnZillion.
Efforts like these, that are seeking to improve education outcomes for kids and communities that need it the most, are what fuel my own passion for this work. They push us all to rethink the role of schools, what teaching and learning can and should look like in a student-centered world. We can get there, together, and NSVF is helping to plant those seeds.