The program, called USC Rossier EdVentures, bills itself as the “first ed-tech innovation hub in Southern California.”
The program has already announced the first cohort of companies it will support–see the full list below–which includes a mix of startup and early-stage businesses serving the K-12, postsecondary, and adult education markets.
The first cohort has a global makeup. It includes ed-tech providers and programs from not only the United States, but also Mexico, Indonesia, Taiwan, and Rwanda.
While the business focus of those ed-tech companies is all over the map, there’s a big focus on artificial intelligence, virtual reality, and augmented reality, said Doug Lynch, a senior fellow at USC’s Rossier School of Education, in an interview.
The program will provide the companies with mentoring and support from both USC’s Rossier School of Education and its Center for Engineering in Education. The engineering center focuses on applying “engineering thinking and learning” from pre-K through college. EdVentures is also backed by USC’s Marshall School of Business.
The program is being supported by a number of foundations and private entities, including the Michelson 20MM Foundation; Bisk Ventures; and Blackstone LaunchPad USC. The EdVentures program will also engage in “match-making,” or trying to connect the ed-tech startups with potential funders, said Lynch.
The program will not take an equity stake in the companies, he added.
In creating the EdVentures program, USC officials were well aware of the incubator and accelerator programs that dot the U.S. ed-tech landscape, said Lynch.
One way the USC program will distinguish itself is by offering “customized” mentoring and support, akin to what school aspire to offer students through personalized learning, he explained.
The program’s interest in supporting ed-tech companies run by minorities and women stems partly from the belief that doing so will bring new strategies into classrooms and product development.
EdVentures officials have sought to get the word out that they’re keen on supporting under-represented businesses, Lynch said, and the first cohort reflects that work.
“We need more, better ideas from everywhere,” Lynch said. “You come up with better solutions to problems when you have many people from different backgrounds noodling at the problem.”
The companies supported in EdVentures’ first cohort are:
- Akilah, a Rwandan women’s college;
- Ampligence, a 4G communication technology for math that aims to help people do math with much more efficiency;
- Class Calc, an AI-supported calculator meant to help students learn math;
- Easy Teach, a customizable WordPress plug-in for creating & providing online courses;
- Equally, an augmented reality social learning network designed to help students with math and science;
- Giblib, a subscription service of videos of medical procedures for medical students;
- Intervene, a data-driven adaptive intervention software to help close skill gaps among low performing students;
- LoanBuddy, a student loan analysis software for financial advisers.
- MandarinX, a Taiwanese-based organization offering MOOCs in Mandarin;
- OctagonEDU, an Indonesian organization offering a visual science Wikipedia that uses augmented reality;
- Reto, a Mexican-Based adaptive test preparation company focusing on Latin American Medical Education;
- Studioso, a music education application for music teachers and students;
- Ucroo, a web and mobile platform that integrates with existing college systems to provide a digital campus where students are better connected, supported and engaged.
Source: EdWeek MarketBrief