Shareholder Update: PCS India|Creya Learning
Dear Friends and Shareholders:
The PCS business plan has three major initiatives that include 1) EdventuresLabs; 2) the domestic STEM marketplace and rapid growth in robotics and engineering programs; and 3) International STEM consulting. Regarding our International initiatives, in FY2012 PCS established a partnership with Creya Learning (creyalearning.com), a company focused on bringing PCS experiential learning to students throughout India. The Indian marketplace for education is considerable with over 80 million K-12 students, strong family commitments to the value of education and a system that emphasizes theoretical and academic learning.
Currently, students are missing out on the application and the development of 21st century skills, while research indicates only 20% of graduates are prepared for jobs due to a lack of soft skills, practical/application skills, confidence, language, and presentation skills (21st Century skills).
In the first year of deployment to private schools, our Creya Learning royalty-based licensing program established 12 anchor school sites using licensed PCS curriculum and products. This year we added 25 new schools, bringing the total penetration to 40 private schools across the country, with 100% renewals from all previous customers. The Creya team is evaluating the market response carefully and looks forward to significant growth in this next sales cycle as they continue to prove the PCS concept on Indian soil. The PCS-Creya partnership is a license model where Creya tailors PCS content and materials to the Indian marketplace and returns ongoing royalties on revenue generated from PCS STEM programs. The Creya management team has many years of experience in education and software engineering, and knows the Indian market intimately.
In the past year, Creya has conducted pilot summer camps with the National Council of Science Museums, a Nodal agency that runs 25 science museums across the country. Four major metro locations (Delhi, Calcutta, Guwahati and Bangalore) were selected as the summer camp locations and Creya has received high approval ratings from over 400 children that participated in the camps. The mutual goal of PCS and Creya Learning is to scale this model into over 1,000 schools throughout India and then beyond. We are excited about the progress to date and look forward to continued growth in the Indian marketplace.
Thanks for supporting PCSV.
All the best,