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SCHOLARSHIPS2U

Scholarship Applications Made Easy

COMPANY DETAILS

SUMMARY

The education and study abroad market is a 6+ trillion-dollar industry and fast-growing. With globalization, this trend is expected to not just continue but expand rapidly with increasing wealth and opportunities globally.

The problem is the escalating costs of education and lack of funding opportunities for deserving students. While there are scholarships available, the information is difficult to find and even harder to apply for.

The solution is a One-Stop-Gateway for Scholarship application which we provide. Parents and students can receive scholarship information in one place without the hassle of multiple application processes to each individual institution. ALL institutions listed on our platform use our unified system of application and assessments.

Our Team is made up of industry veterans starting with the CEO – Mr. Matthew Gan who runs a student placement agency for over 15 years. As Managing Director of ET Education Services Sdn Bhd – a student placement agency running for 35 years, he brings with him a wealth of experience in dealing with student assessments, study options, and career counseling.  He has personally visited no less than 350 education institutions worldwide as part of his career.

Supporting Matthew is Ms. Anne Khor who is the Head counselor/Operations Manager in charge of student counseling, testing, applications, and placement operations. She ensures the pipeline runs smoothly on a daily basis.

Our CTO, Mark Yeo is an expert in technology has won multiple awards in the field.

Our CFO, Asgari Stephens is a well-known investor and will be in charge of the financial matters of the company.

 

PROBLEM

The problem is the escalating costs of education and lack of funding opportunities for deserving students. While there are scholarships available, the information is difficult to find and even harder to apply for – especially with paper-based applications and face-to-face meetings and interviews.

Looking for scholarships can be a tedious process, confusing and overwhelming. Going through countless lists online or offline, and each having a separate application form and process can make it an extremely daunting task.

 

The education industry currently has a very low adoption of digitization, estimated at 2-2.5% only. With such low adoption, legacy practices, and heavily fragmented markets, this creates an environment fraught with many inefficiencies. One part, in particular, that is prevalent, are the marketing, student enrolment, and application process, including the scholarship award process. Institutions individually recruit students using their own marketing team, often with face to face processes instead of leveraging technology.

With these inefficiencies, the cost of education is ever increasing and far outstripping other industries as shown in the chart below. Student debt is at an all-time high and some may not be able to pay off their loans even after working for many years. 1

While institutions give out scholarships regularly, the application process is predominantly off-line, thereby making it difficult to find effective matches. It is widely said that millions of dollars in scholarship money go unsubscribed every year.

 

SOLUTION

The solution is a One-Stop-Gateway for Scholarship application which we provide. Parents and students can receive scholarship information in one place without the hassle of multiple application processes to each individual institution. ALL institutions listed on our platform use our unified system of application and assessments.

It is our mission to effectively match the top 25% of the world’s students, to all the scholarships in the world. With increased efficiencies in matching, we can potentially stem the increasing cost of education worldwide.

With our solution, schools and education providers can also easily find suitable candidates for their scholarships as well. Because the entire process is online, they can immediately tap into a worldwide audience and give specific scholarships targeted to specific markets, thereby opening opportunities for market penetration, marketing as well as enrolments.

Schools and education providers can use our platform to overcome their reliance on education agencies for the following reasons:

  • Reduce the high commission cost of paying education agencies
  • Unethical practices of some agencies tarnishing the image of the school
  • Having full control of its own recruitment and marketing plans
  • Reducing the costs of marketing and enrolments by utilizing our technology
  • Reducing the cost of having to travel internationally to recruit students

As for corporates and foundations, our main propositions are:

  • Reducing the costs of recruiting and screening students by using online technology
  • Increased speed in processing applications
  • Outsourcing the management of this cost center to focus on its core competencies
  • Reduce administrative costs and manpower
  • Leverage on an established brand which already has a presence in the market and ready applicants
  • Provide better support and customer service as we are the education experts

We know students and their needs better as we are from the industry

 

PRODUCT

Our key products and services are:

  1. Scholarship Worldwide Platform
  2. Scholarship Benchmark Test
  3. Scholarship Matching Algorithms/processes (Scholarship matching tool)

Scholarships2u.com is a web-based scholarship search platform. It is compatible with desktop, tablet and mobile views:

  • Student Profile creation
  • Scholarship Providers Profile creation
  • Criteria sorting and matching
  • Uploading of student transcripts and information
  • Billing for software subscriptions
  • Scholarship Benchmark Testing
  • Messaging between all users
  • Analytics for institutions (Student applications, conversion metrics, suggestions, etc)
  • Interviews and scoring/ranking
  • Making offers and applications management
  • End to end online processing of scholarships and management

 

 

 

TRACTION

Our traction to date are: 

  • 215 Scholarships
  • 122 Institutions
  • 5309 Scholarship Students
  • $43 Million Scholarship Funds

 

CUSTOMERS

Scholarships2u.com is in a unique position to fully digitize the entire process of scholarship applications. Ultimately and eventually with no in-house human handling of these processes, we can scale and unify this current very fragmented process. Naturally, as with scholarship applications, the enrolment process itself becomes revolutionized, with Institutions utilizing our platform to reach out to students globally while cutting out their reliance on agencies worldwide.

With a unified and singular brand – Scholarships2u, we want to give every deserving student a chance for quality education, mindful learning, and meaningful life. 

 

BUSINESS MODEL

  1. Testing and application fees – Scholarship Benchmark Test (SBT)
  2. E-commerce – Platform subscription/connection fees and credit purchases.
  3. Marketing Fees – Education providers pay for advertising and promotions all the time, be it advertising in the papers or on social media. With scholarships2u wide reach and user base, significant promotions and advertising opportunities abound.
  4. Student Placement Fees – Education providers pay commissions on students recruited via scholarships2u.com. This is commonplace and an established industry practices the world over.
  5. Scholarship management services for Corporate and Foundation clients.

 

MARKET

Market Size & Segments  

The education industry is a vast 6+ trillion-dollar industry (roughly double the size of the automotive sector) and fast-growing. With globalization, this trend is expected to not just continue but expand rapidly with increasing wealth and opportunities globally. Some of the projections for the near future are:

  • Over one billion more secondary and tertiary graduates by 2030
  • 350 million tertiary graduates and nearly 800 million more K12 graduates in ten years’ time
  • Asia, Africa followed by Latin America are the driving force behind the expansion.

 

 

COMPETITION

Based on our extensive research and being in the industry for many years, we have not come across any direct competitors anywhere in the world. There are 3 types of scholarship related sites or businesses in the market as follows:

  1. Directory or Information based

There are many websites providing scholarship information but they do not handle nor unify the application process. These are just directories providing information. Many are still trapped in the advertising revenue model, although they couple it with online solutions such as content marketing and lead generation campaigns for their clients. They then take this offline, do counseling, and then claim commissions. Because of this, they cannot scale globally.

As long as there are counseling and commissions involved, there is a human element that prevents fast and large growth. Also, there are already many agents throughout each country, all with superior knowledge of their respective local markets, thus making a new company hard to break into these markets and dominate. The agency business is very fragmented with no global company dominating any one market with the exception of perhaps IDP. However, IDP is owned by Universities in Australia, which backs them up on student pipelines.

  1. Matching applicationswww.myScholly.com 

It’s an app to match students with institutions, their revenue model seems to be downloads of the app and maybe advertising. Because they do not get deep into the scholarship management and selection process, such as testing services, their scholarship amounts as low – ranging just a few thousand dollars at a time.

  1. Testing providers and scholarship management companies

These businesses tend to see themselves as playing the role of testing and management service providers. Meaning they are paid by the scholarship awarding company to test and shortlist students for the award. This model is a fee for service business and is not likely to be scalable because of its business model. They are also unable to utilize the data as it doesn’t belong to them. Many of these companies still do off-line testing and processing and have not gone truly digital yet. Therefore, they are mostly local-based.

 

FUNDING

Use of Funds  

We aim to raise RM 500,000 to boost our operations, marketing funds and to expand to international markets. Also, to incorporate an office in Singapore.

 

VISION

Milestones to date

  1. RM60 million Scholarships Fund
  2. Almost 1000 Scholarships available
  3. Over 150+ Scholarship Providers
  4. Scholarships to 13 countries
  5. First of its kind –Scholarship Fair successfully launched

 

Future milestones

  1. Version 3.0 Scholarship website re-launch (Full functionality) May 2020
  2. RM 1 billion Scholarship Fund by September 2020
  3. Scholarship Fair 2020 (September/October 2020)

 

INVESTORS

Mayang Imbang Sdn Bhd headed by Asgari Stephens – 21% shareholder. Director of Intelligent Capital; involved in startups as an angel investor and mentor. Served as an independent non-executive director of Maxis Berhad, chairman of Mudajaya and director and chairman of the Asian subsidiary of Leighton Holdings. MBA, Cranfield University. He is the co-founder of Scholarships2u and leads the financial plans for the company.

Suresh Thiru – 10%

An engineering graduate from the Massachusetts Institute of Technology, Suresh started his career as a research engineer with Digital Equipment Corporation. He's also held positions at Motorola Malaysia, Maxis and Jobstreet before landing as a CEO at SEEK Asia.

 

FOUNDERS

Matthew Gan – 59% shareholder. Mr. Matthew Gan runs a student placement agency for over 15 years. As Managing Director of ET Education Services Sdn Bhd – a student placement agency running for 29 years, he brings with him a wealth of experience in dealing with student assessments, study options, and career counseling.  He is the Founder of Scholarships2u and leads the overall running and business development of the company.

Mark Yeo – 10% shareholder. Mark Yeo led the development and expansion of a mobile content startup throughout South East Asia in 2003. He was instrumental to the company’s successful listing on the KLSE in 2004 before it was sold to a global mobile content company, MonsterMob, in 2005.  Mark has an MBA from a top-ranking European business school with a 4.0 GPA in marketing and entrepreneurship studies.  He has founded two eCommerce companies and taken senior positions at EMC, Maxis, Rocket Internet, and WeWork. He is the co-founder of Scholarships2u and leads the Marketing and technology developments of the company.

TEAM

Management Team  

Ms. Anne Khor - Head Counsellor and Operations Manager in charge of student counseling, testing, applications, and placement operations. She ensures the pipeline runs smoothly on a daily basis.

Mak Kwan Wuey - Tech Lead. Mak Kwan Wuey has always been obsessed with technology. He built his own computer at the age of 14, using it to host his school’s website from home. He obtained a bachelor's degree in electronics and communications engineering and worked at Huawei as a UMTS Wireless Technical Trainer right after graduation. Kwan Wuey started his own company in additive manufacturing (3D printing) and has held CTO roles at several Internet startups such as SushiVid, AskLegal, and HSA Technologies.

Shanon Oh - Product Lead. Shanon Oh directed documentary film making and corporate video contents through a production house he started in 2009. The business diversified to providing digital content creations and solutions for online platforms and social media. He also has experience in event management & has produced digital content for government, corporate, and hospitality sectors.

 

Advisors  

  1. Suresh Thiru– Strategic Advisor

 

An engineering graduate from the Massachusetts Institute of Technology, Suresh started his career as a research engineer with Digital Equipment Corporation. He's also held positions at Motorola Malaysia, Maxis, and Jobstreet before landing as a CEO at SEEK Asia.

 

PRESS

 


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