Notice of Business Collaboration between System Technology-i and Fliplearn, An India-based EduTech Company
Jan. 29, 2016
System Technology-i (HQ: Chuo-ku Tokyo, President & CEO: Hirotada Funaoka, hereon as STI) and the India-based education platform provider Fliplearn Education Pte. Ltd. (located in New Delhi, hereon as Fliplearn) formed a business development alliance in an effort to penetrate the Indian market. Details of the alliance are as follows:
[Business collaboration background]
STI was consolidated as a subsidiary of V-cube, Inc (HQ: Meguro-ku Tokyo, President & CEO: Naoaki Mashita, hereon as V-cube) in December of 2015 to act as V-cube’s core company in the field of education, combining efforts and uniting our products and services to increase our business value, as well as expand sales and profit.
India is a country with a strong fervor for education with a market which consists over of 200,000 schools and 170 million students, and has an excellent education system that churns out a large number of skilled professionals into the world time and again. This proves that there is a vast potential alongside its growing economy. Fliplearn’s education platform has, in just seven months after commencing its service, amassed a user base of approximately 2000 schools and 400,000 students and parents.
This business collaboration with Fliplearn marks a significant milestone for STI in its plan to develop and expand its business within the Indian market.
The V-cube group has set providing visual communication for the education field as our core growth strategy. In the process of developing and deploying solutions for the education industry, we have acquired Pioneer VC Inc. (formerly known as Pioneer Solutions Inc.), a company which, in May 2014, held major domestic shares in the electronic blackboard and education ICT fields. More recently in October 2015, we acquired Wizlearn Technologies Pte. Ltd. (located in Singapore, hereinafter known as Wizlearn), which holds the top share in providing education platform in Singapore. Beyond Japan, we are actively promoting and driving business to its highest future potential in the Asia region, as we have set sights on becoming the No. 1 visual communication platform provider in Asia. In the field of education in Asia, we are striving to become the de facto standard in education ICT infrastructure.
While STI has already been actively developing its foreign business in Singapore and Malaysia, this business collaboration marks their first major foray into large scale overseas development since becoming a part of the V-cube group—a point which also signifies the beginning of a medium-to-long term business expansion plan.
[Business collaboration inner-workings]
Combining STI’s unique content editor, iStudy, and V-cube’s highly interactive visual communication services, V-CUBE Meeting and V-CUBE Seminar, with Fliplearn’s Learning Management System (LMS) and on demand-oriented content to introduce iStudy Live, a combined service that provides a learning environment that is both real time and interactive to bring about highly effective educational outcomes. This service will be solely provided by Fliplearn.
The process that serves as the business model is one where Fliplearn shall collect fees from the students using their service and remit a part of those fees to STI as payment for the use of the iStudy Live service. The service is currently scheduled to become available in mid-2016.
Fliplearn, which is rapidly growing, aims to expand its service to cover all 170 million students within India, and, with these 170 million students as users, actively provide this new and innovative real time interactive education service as the infrastructure for online home tutoring services.
Please see the below link for more information regarding this collaboration: