With the evolution of e-learning, there has been a significant change in the ways the educational content is being consumed by the users. However, our traditional system still focuses on framing curriculum on the basis of theoretical topics. Also, there are still many places in the country where internet penetration is either low or connections work slow.
Delhi based startup, Avishkaarbox aims at solving these problems and position itself as a unique solution that shall enable parents to prepare their children for tomorrow. “With Avishkaar Box, we hope to get children back into imagination, creativity and play. We want children to get up off the couch, step from behind a computer, turn off the television and find accomplishment in playtime.”
Launched in April 2014, it is an initiative of three viz. Tarun Bhalla, Swati Gupta and Neha Dagar. Based on subscription commerce model, it offers Do-it-yourself kits for children from Grade II-V (STEAM Boxes) that can be delivered at a parent’s doorstep. STEAM, here stands for, Science, Engineering, Arts and Mathematics.
Also, it offers Inventors’ Box for children in the age group of 5-12 years. For instance, CODIGO, is an easy-to-use programming interface that is designed to teach fundamental programming logic to children.
It currently offers a single STEAM Box for INR 999. The subscriptions are available for 3, 6 and 9 months at a price of INR 2997, INR 5994 and INR 8991 respectively.
A survey for more than 500 parents conducted by the company reveals that 90% are ready to pay for a subscription service like this. Within a week of its launch, the team have observed 500 unique visitors with 150 actually registering for the service. “These are still early days, however, we feel confident that we will be able to get to 1000 subscribers of our service in next 3 months and 5000 subscribers in one year,” said Tarun.
The founders plan to break even in the next 6 months and intend to target segment such as Information workers (IT Professionals, ITES Professionals, Bankers, School Teachers and Entrepreneurs). Also, the team is planning to set up informational stalls at Premier Schools, IT/BPO companies and do marketing events like different children based competitions.
The startup is currently self-funded and is looking forward to funding if any investor finds their model and product promising.
According to a recent Economic Times report, startups, especially in ecommerce retail are now highly adopting subscription base model. “Subscribers tend to buy more, spend more and, therefore, margins go up; they are the more profitable customers,” said Ankur Bisen, senior vice-president at retail consultancy Technopak.
Chennai based FlintoBox, another startup in this space provides activity boxes with recreational toys for children of age 3 to 7 years. It currently has around 3000 monthly subscribers and is a 7 year old company. Also, it aims to earn revenues of upto INR 10 crores in next 10 months.
To contact the author, email at firstname.lastname@example.orgCategory Business Startups