Situation:

Massive Open Online Courses (MOOC) have gained a certain popularity over the last few years, and we have found this mode as being very effective in fostering advanced education for a number of students in emerging economies. One of the issues though of this educational model is that it has been a struggle for existing players to monetize their efforts. The primary focuses so far is promoting education as another means to provide foreign aid.

Frugal Constraints

• Emerging market students have limited access to continued education
• Emerging market students have limited to no access to business mentors
• Mature professionals who are unemployed are generalists and do not fit into a specialist job market
• Businesses have limited experience in conducting business in emerging markets: Lack of knowledge, lack of network, lack of internal expertise

Frugal Approach

• Offer eLearning and mentoring for continuing educational students who have completed already a university degree (or equivalent), have been employed in a professional capacity for the last 3-5 years or have been self-employed for a similar time range
• Offer business mentoring via virtual means to these students
• Retrain professionals who are unemployed to be mentors to these students from emerging markets
• After initial deployment of the eLearning material, allow for both the students and mentors to jointly co-create follow-up course material
• Give European businesses the opportunity to sign up and participate in the process

Frugal Outcomes

• Offer students in emerging markets relevant professional eLearning courses. We will be looking for a certain profile of a student who has a university degree, is employed or has a successful business for a few years and is generally interesting in expanding. The student receives free eLearning + mentorship + commercial opportunities after completion
• Offer the students mentors in addition to the eLearning. These mentors will come from the unemployed professionals in Europe who are 45+ years. There will be a rigorous selection and onboarding process. The mentors receive a sense of worth, thorough re-training, ability to share knowledge plus an opportunity for employment after completion.
• Companies who realize that the margins in the developed markets are much higher, but they have no network and even less knowledge in doing business in emerging markets. They will receive access to certain markets (student) plus local employees with expertise (mentors)

Want to learn more about this initiative? We’d love to tell you more. Reach out to us

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