TIDMDEV
RNS Number : 2423R
Dev Clever Holdings PLC
28 October 2019
Dev Clever Holdings plc
("Dev Clever" or "the Company")
Educate Platform: Strategic update
Dev Clever, a leading developer of career development platforms
and virtual reality student experiences, is pleased to release this
strategic update for our Educate platform to the market.
Key Highlights:
-- Our innovative careers guidance platforms are now fully live
-- Sales resourcing and marketing activity has begun in line
with our strategy of commencing with the start of the new academic
year
-- The Company has secured strategic collaborations and
partnerships to enable it to capitalise on the immediate UK market
opportunity, which the Company estimates to be in excess of GBP100
million per annum
-- The Company aims to secure 10% of this UK market opportunity by 2023
-- The Company's Educate platforms are offered on a 36 month SaaS based licence subscription
-- The Company has commenced work on localising the platforms
for other markets and collaborating on the strategy to rollout the
Educate platform to other territories starting with North America
in 2020
-- The Company estimates the US education market is
approximately six times larger than that of the UK.
Over the past 5 years, the Company has worked in collaboration
with students, schools, educational institutions, training
providers and employers to produce a step change product that helps
address the critical national issue of bridging the UK skills gap,
which the government estimates will cost the UK tax payer GBP90bn
per year by 2024.
Careers education and guidance is a key enabler to the success
of the required reforms to the technical education system. In 2014,
the Gatsby Foundation published its report 'Good Career Guidance'
which distilled academic literature and good practice overseas into
a set of eight benchmarks which identify different dimensions of
good careers guidance. These benchmarks are now embedded within the
new Ofsted inspection framework which came into effect in September
2019.
Schools are legally required to demonstrate they are providing
an effective careers programme in line with the government's
statutory guidance on careers advice. The mandate requires schools
to:
-- prepare pupils for future success in education, employment or training.
-- meet the Gatsby Benchmarks by the end of 2020
-- enable a range of education and training providers to speak to pupils in Years 8 to 13.
-- ensure all pupils receive unbiased information about
potential next steps and high-quality careers guidance.
-- provide good quality, meaningful opportunities for pupils to encounter the world of work.
In support of the Government's objectives, our mission has been
to provide a single platform which centralises careers content
including LMI data, colleges, universities, training providers and
employers, whilst providing young people with an interactive and
immersive student experience that revolutionises the delivery of
careers advice to fully engage them in their future. It also
provides organisations and institutions with a platform through
which they could subscribe to enable them to deliver this higher
standard of career guidance at the same time as providing a more
targeted means of communicating and marketing to young people.
The Company has now invested over GBP1.0 million in the
development of its platforms Launchpad, Launchpad for employers and
VICTAR VR:
Launchpad (www.launchyourcareer.com),
An innovative online platform designed to connect young people,
their influencers, schools, FE/HE institutions, employers and
training providers together. Our platform promotes technical,
academic and apprenticeship pathways as part of a national reformed
skill system and provide the tools required to support the delivery
of the Gatsby mandate.
VICTAR VR (Virtual Interactive Careers Training &
Apprenticeship Robot)
The world's first interactive, virtual reality careers guidance
experience designed specifically to engage with school children
across the secondary sector and immerse them in impartial careers
information as part of a careers guidance programme Developed in
parallel with Launchpad, VICTAR takes the young person through a
unique immersive, engaging, motivational and guided virtual reality
journey to discover their personality, interests and explore 360
environments and careers that suit them the most. Once they arrive
at their chosen career, they can see LMI statistics and information
about the career such as how much they could earn, the predicted
growth by region as well as a video of a person who works in that
career with insights into their work environments.
Launchpad for Employers
A mobile optimised, internal learning and development, training
and communications platform for employees and team members. The
platform is designed to train and develop the skills of each
individual across multiple locations, whilst also providing a
centralised hub for internal communications. The platform
incorporates Dev Clever's Engage gamification engine to incentivise
users, through the use of instant win rewards, to complete their
training modules and advance their business knowledge and
skillsets.
The Company intends to accelerate the adoption of these
platforms through the exploitation of its official partnerships
within the education, skills and careers sector. These are expected
to give Launchpad and VICTAR national exposure to secondary schools
and FE colleges across the UK at the same time as attracting a
large volume of users to the platform now that the new academic
year has begun.
Secured collaborations and strategic partnerships:
-- WorldSkills Organisation
-- Lenovo
-- CDI (Careers Development Institute)
-- Icould
These collaborations and strategic partnerships enable the
Company to fully commercialise its Educate platforms and its suite
of SaaS based products to be offered to organisations and
institutions at scale.
Market Size UK:
-- Secondary schools and sixth form colleges 6,587
-- Further Educators and Colleges 294
-- Higher Educators and University's 137
-- Apprenticeship providers 2,090
-- Mid to Large employers which qualify for the Apprenticeship Levy 10,760
Our SaaS based licences and subscription packages
-- Secondary schools and sixth form colleges GBP350 - GBP1,250 per annum
-- Further Educators and Colleges GBP4,500 - GBP18,000 per annum
-- Higher Educators and University's GBP4,500 - GBP18,000 per annum
-- Apprenticeship providers GBP4,500 - GBP18,000 per annum
-- Mid to Large employers which qualify for the Apprenticeship
Levy GBP2,500 - GBP18,000 per annum
The Company estimates the total UK market opportunity for its
innovative careers' guidance platforms is in excess of GBP100
Million per annum. Our target is to have secured 10% of this market
on SaaS based 36-month subscriptions by 2023.
Working in collaboration with Lenovo, the Company intends to
localise its Educate solution for other territories, commencing
with North America in April 2020. The Company estimates the US
education market to be six times larger than that of the UK.
Chris Jeffries CEO Dev Clever said:
5 years ago, we identified the need to develop an innovative,
'Clever" solution that would centralise and revolutionise the
delivery of careers guidance across the entire careers and
workplace skills development sector, a sector that has a vital
impact on the current and future global economy. Knowing that the
government had also identified this and highlighted that changes
were going to be made to enforce the delivery of a higher standard
of careers guidance across the UK from 2019, Dev Clever has made
significant internal investment in proprietary platforms, products
and infrastructure and as a business we have been strategically
gearing up for this exact moment. We are now fully focused on
commercialising the substantial opportunity our technology offers
as we enter what we believe will be a period of transformational
growth.
Tim Heaton COO Dev Clever said:
Since joining the Dev Clever business, I have been delighted and
encouraged with the feedback on our Educate products and services
from multi academy trusts, combined authorities, FE colleges and
schools who we have talked with directly. From this I feel we are
well placed to drive forward and now accelerate our customer
acquisition programme.
Graham Feek, Deputy Chief Executive, Greenwood Academies Trust
said:
What Dev Clever is doing with its innovative careers' guidance
platform is amazing and I'm convinced that Launchpad and VICTAR
will make such a big difference to the aspirations and outcomes for
pupils. I'm trying to recall seeing a product at first glance that
is so impressive and purposeful.
For further information please contact:
Dev Clever Holdings plc
Christopher Jeffries
CEO, Founder and Executive Chairman
+44 (0) 845 459 0774
Nicholas Ydlibi
Finance Director +44 (0) 330 058 2922
Pello Capital - Joint Broker
Daniel Gee +44 (0) 203 700 2534
Novum Securities Limited - Joint
Broker
Colin Rowbury +44 (0) 20 7399 9400
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END
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