Writing narratives has always been a time-consuming process thus limiting how much information teachers could share. By streamlining the narrative feedback process, we envision teachers sharing more comprehensive and individualized feedback so students can discover their strengths, gifts and talents as well as develop the necessary skills for them to pursue the life they dream of.
Education is the biggest predictor of success and parents are increasingly wanting more information to help their children flourish in all aspects of life. When families receive timely and meaningful feedback, it helps students better acquire the knowledge and skills that will pay off in their child's future relationships and careers. Our mission is to develop world-class tools, resources and services that enable teachers to deliver rich, insightful and actionable narrative feedback.
Feedback Genie is an online tool designed to help teachers quickly author accurate, comprehensive feedback for each student. Pre-loaded with thousands of comments, teachers can insert comments instantly with just a mouse click. Because ideas are immediately at their fingertips Feedback Genie virtually eliminates writer’s block. And proofreading is minimized since comments have already been tactfully pre-written and spellchecked. Feedback Genie’s time-saving features enables teachers to focus on sharing more observations and insights. Feedback Genie enables teachers to complete narratives faster, reduce stress and help them feel like they’ve given their best.
THE PRE-K THRU 12 MARKET (USA)
There are roughly 4,500,000 pre-kindergarten thru 12 teachers in the United States. From 2022 to 2030, the global Edtech market is expected to grow annually by 16.5% with a larger share belonging to North America. The feedback niche is a nascent space with no more than 12 competitors. All have a small presence.
For all the challenges that came with COVID-19 school closures, there was a boon, particularly relating to remote learning. Surveying over six hundred teachers, 82 percent reported that providing formative feedback remotely during the Covid lockdowns was much more challenging compared to face-to-face learning. This suggests that teachers in remote learning environments have a greater need for better feedback tools.
Feedback Genie is the only solution that guides teachers as they author formative feedback as well as summative feedback (e.g., homework versus report cards). Feedback Genie is unique in that our feedback comments fit seamlessly into a classic inverted pyramid writing structure: topic sentence, supporting details and conclusion—which minimizes mental friction. Last, Feedback Genie offers far more comments than competitors providing greater feedback depth and breadth. We applied for a patent in May 2022 and are awaiting approval from the USPTO.
FINANCIAL PROJECTIONS AFTER 1ST YEAR
TAM = $170M SAM = $95M
Annual SOM Projections 2X Growth 3X Growth
Projected SOM (Year 1): $95K $95K
Projected SOM (Year 2): $195K $293K
Projected SOM (Year 3): $395K $880K
Projected SOM (Year 4): $780K $2.64M
Projected SOM (Year 5): $1.56M $7.92M
STARTUP FINANCIAL REQUIREMENTS
Feedback Genie is seeking $120,000 in startup capital to launch. The moneys would be used to pursue PMF: surveys/interviews, marketing, product development and basic overhead expenses.