Opportunity: The U.S. education system is failing to teach students math and other STEM--Science, Technology, Engineering, and Mathematics--skills. The problem is that today`s kids are born into a digital world and schools fail to engage them. What do engage students are entertainment-based massively multiplayer online games that allow real-time collaboration and competition. But nothing like this exists for both the consumer and school markets in elementary education.
Product: Sokikom (so-kee-kom) has developed the first ever Massively Multiplayer Online Social Learning Game (MMOSLG) for elementary students to boost math engagement and learning to a level beyond anything seen before (www.sokikom.com). The key difference in the product is the proprietary technology developed that allows massive real-time collaboration & competition to an extent never experienced before in elementary education. A proprietary adaptive learning system has also been developed, which provides individualized game learning experiences based on student ability. In addition, both a parent and educator panel have been developed to provide extensive reporting and student management features.
Business Model: Sokikom is using a cloud-based freemium business model where schools will be leveraged to enter the home market and subscription licenses will be sold to both. Sokikom is using a disruptive freemium model where schools and homes will receive unlimited free access to basic features and pay about $20 per student for an upgraded school premium account, and $49 for an upgraded home premium account. The premium accounts will include significantly more content, administrative and data management features, the ability to play more, and additional game rewards for students. Other noncompeting companies such as Edmodo and Schoology have proven that a freemium business model such as Sokikom’s can be successful in K-12. Sokikom’s product also has embedded cross marketing features which allow teachers to notify parents about the product by setting up a school-to-home learning connection. Similarly, parents have the ability to notify teachers about the product by setting up a home-to-school learning connection.
Market Traction: Sokikom is one of only 9 other companies in the US that have ever been awarded multiple SBIR grants totaling $1,000,000 from the U.S. Department of Education. Perhaps just as important as the monetary value is the credibility that this has given Sokikom, which is a competitive differentiator when selling to schools and parents. We have also conducted three scientific-based research studies which proved that Sokikom leads to significantly higher test scores—the average 4th grade student improved math test scores by 15% in only 2.5 hours of game-play.
Recent News:
• Sokikom recently got out of Beta and is being used in 90 elementary schools spanning 15 states.
• Sokikom honored with Best Educational Software Award (BESSIE) https://www.sokikom.com/blog/view/2011_BessieAward
• Sokikom wins award from Education Innovation Summit https://www.sokikom.com/blog/view/EdInnovationSummit_Results
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