Shareholder Update: EdventuresLab Online Strategy
Dear Friends and Shareholders:
PCS recently crossed a significant milestone in the PCS business plan with the opening of the Eagle, Idaho Edventures Lab. This means that we are nearing the point where we can begin to license and scale these labs around the country and, as CEO Robert Grover has outlined previously, the PCS lab concept serves a growing market need for STEM education, evidenced by the over 200 students enrolled in our PCS summer programs. A major driver of the PCS business model is the deployment of a virtual learning system that emphasizes experiential learning – PCS specializes in hands-on education and the blending of the virtual and hand-on is the future of effective education. An engaging, scalable subscription service to access a virtual PCS experiential learning program will deliver high margin revenues and a service with remarkable educational value to its subscribers.
One of our newest employees, Caitlin Donnelly, Director of Operations, PCS EdventuresLab, is focusing on the development of this virtual learning infrastructure for EdventuresLab students that will be deployed this summer for testing in our Boise and Eagle Lab sites. Caitlin currently runs the operations of the lab including developing classes, managing parent communications, scheduling and training staff, and is also working closely with developers and management to design the online Learning Management System (LMS) for the EdventuresLab.
Caitlin said that she “loves that PCS is giving me the opportunity to use all of the skills I’ve developed over the last 10 years with the diverse experiences I have had. PCS is so important and I’m proud to be a part of it. With experience in teaching students ages 3-18, working with kids in the education space is my true calling. I feel at ease in the lab and I hope to instill a love of learning in each and every student. I was the #3 hire (not including developers) for an incubator-like company in Austin, TX. I wore many different hats for that company, including Business Development, Recruiting, and Training. I learned so much during my time with that company and am glad that I can use all that I’ve learned to help the labs ramp up to the success that they will be.”
Caitlin feels that the biggest challenge we face with our EdventuresLab program is how do we duplicate this 100 times. “PCS has created something great. Now all we have to do is get it all packaged!”
To this end, Caitlin and the EdventuresLab team are working to get as much information as possible into the LMS for training that will paint an exact picture of how an EdventuresLab should run.
To reiterate the PCS plan, the goal for PCSV is to deploy 100 EdventuresLabs scaled rapidly over the coming 5 years through partnerships with innovative, entrepreneurial licensees who will take this concept and adapt it to their local community. The business model targets licensees who have the skills and resources to support opening a minimum of ten licensed facilities in 5 years that establish PCS Edventures branding and presence in key communities. In addition to branding and awareness of PCS products, the presence of these sites provides a premium hub for sales and support of PCS programs into local schools and a launch pad to grow the virtual, subscription-based experiential learning community.
The EdventuresLab contribution to the PCS business model is scalable, consistent revenues from multiple sources, plus a competitive advantage that can set us apart from all the other players in the growing STEM field.
Thanks for supporting PCSV.
All the best,