Business plan for

Innovative
Mathematics

SOM Stunners,
SJMSOM,
IIT Bombay

FEBRUARY 2015

BIP Africa
Business Plan for Innovative

-------------------------------------------------------------------------------------By,
SOM Stunners

Business plan for

Innovative
Mathematics

SOM Stunners,
SJMSOM,
IIT Bombay

FEBRUARY 2015

Table of Contents
I.

Executive Summary..............................................................2
Highlights
Objectives
Mission Statement
Vision Statement
Core Values

II.

Market Research..................................................................4
Primary Research
Secondary Research
Leaders / Companies in innovative learning
process

III.

Organization Structure........................................................6

IV.

Marketing Analysis..............................................................7
Products and Services
Products details and Segments
Market Sizing

V.

Financial Analysis..............................................................10

VI.

Interesting Sample Questions............................................11

VII. Other Findings...................................................................12

Sustainable business
Business Card
Certifications
VIII. Roadmap............................................................................13
IX.

Reference...........................................................................14

X.

Appendix............................................................................15

Executive Summary
Core belief about mathematics is that it is tough to understand or it is not
practical. This has resulted in high number of dropouts in high school education.
The way math is taught needs to be changed to create a positive impact on the
students. The Primary research done in the school Kendra Vidyalaya in IIT
Bombay and interaction with young college students and professionals in the city,
helped us narrow down our main target audience to Students so that we could
create a change in their mind set at an early age.
Proposed solution: Games are the primary and most preferred product for
students hence most of our products are encircled around this idea. Innovative
simulation games which engages students and helps them apply the concepts that
they have learnt in class serves as one of the key products in the companys cart.
Understanding the Indian market and pastime habits and preference of children,
the business also has a non-traditional Live Product in the form of a Theme Park
which has a direct correlation with the traditional Mela concept. Along with this
the business has video based learning and books & CDs as offline product.
Marketing Summary: The business will mainly have 2 types of Marketing
Strategy Advertisements (series of commercial TV Ads creating buzz, Print and
Social Media Ads) and direct sales (selling to end consumers individually or in
bulk). One more medium of promoting the products and brand, as a whole, will be
via Portable Theme Parks (like traditional Melas) in schools by which people in
that locality would come to know about different product offerings. Collaboration
with schools to include Simulation Game in the curriculum and using Bigdata from
Internet to target right consumers are key marketing strategy which the Business
would be using in the near future.
Financial Summary: Company seeks an investment of 2.5 million dollars in the
span of first 3 years. The company plans to invest heavily in the marketing on
social media platform and traditional media platforms but still manages to
achieve positive profits in 1st year and breakeven in 3rd year. The goals of the
company is to concentrate on market penetration in the first 2 years and then
maximize on profits for the next five years while delivering customized products to
individual. The first 2 years company reaches the urban population and then enters
the rural market by keeping the low cost product model as its agenda and reaching
mass and spreading knowledge of Mathematics as the ultimate aim.
The barrier for entry is very minimal in the market as a result of which we should
keep innovating and improve the products and also customize it based on location
to retain a strong customer base.

Highlights
In country like India, powerful service with proper business strategy will yield a
market of more than 300000 users in 1st year and break-even by 3 years. USP: Fun
in learning, application problems and low-cost products.

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Objectives
The world is in a changing spree. To sustain in this competitive world, we must
look to bring innovation in our products, not only for profit but to adapt to this
changing world imparting the age old basics of knowledge and continuously spread
its importance for generations ahead in different style.

Mission Statement
Our Journey begins with defining our mission, which is to create and share a selfsustainable repository of rich practical knowledge about mathematics and make it
fun to learn while removing the fear notion which people have for the subject.
Offering creativity in learning to stimulate and inspire minds by unlocking the
potential of technology.

Vision Statement
Our vision serves as the framework for our business by structuring our actions to
reach our goal of creating value in peoples life and spread the importance and fun
of learning mathematics in Society.

World: Make everyone around the globe like Mathematics and make it
enjoyable thus creating happy lives everywhere

People: Remove the phobia of Mathematics and make them understand its
importance in all the aspects of Life, thus saving them from repercussions
arising from the lack of knowledge.

Sharing: Communicate and Share knowledge which is acquired by many

and make it reach even more at the grass root level

Core Values

Innovation - Innovate products that satisfies the needs of the client

Creating Value for Client through Customization - Enabling clients to
become leaders in math education by establishing a long term relationship
and through product customization
Integrity and Respect for Individual - Being ethically unyielding, honest
and Valuing diversity and unique contributions

Company Name and Tagline

INTEGRATE Fun at Learning
ROMATHIC Love Math
DOMATH Math for Life

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Ad story line and Promotional Message

INTEGRATE will launch a campaign of 7 Ads in two weeks featuring the value
added services that the company has to offer. All which will be telecasted during
a big sport tournament in the country like a cricket series in India and in top 5
sitcoms for a period of fortnight. With one big release every day, the campaign is as
user friendly as its product. It realizes the fact that people get bored watching the
same Ad over and over again. With this variety in Ads, all centered around one
theme - Math is Fun and Math creates Life, it aims to portray value added
features of the company by taking practical example in the ad and showing the
mass how Math is used in every aspect of life. The examples will range from
showing benefits of basic topics such as Time, Speed, and Money to Geometrical
Application while ordering Pizza to using Probability in Corporate conference
rooms. The Ads also conveys the strong and core message of the company that
learning and applying math is fun at all times and gives you edge over others (in ad
a smart looking, suited, dumb guy, who doesnt know about math, will be shown
that he is always at a loss). Now what can make this ad campaign viral is the
creativity and humor which these series of ads will cater to and along with sticking
to the central theme. The Ad campaign will have madness, mystery, humor, a
strong message and in the whole it will be fun for everyone because we all know
Math is Fun and Math creates Life (Appendix 7).

Market Research
Primary Research
To understand the view of school children towards math who contributes as a
major chunk of our business, we have conducted a primary research in Kendriya
Vidyalaya at Powai. The research was done by interviews and questionnaire
methods. We interviewed The Principal of the school, Mathematics department
staffs including Head of the Department and more than 110 students (Appendix 1,
2).
No more fear, students have interest in mathematics but weak in
application... by HOD, Mathematics department, Kendriya Vidyalaya. As
stated by senior mathematics teacher, survey with students revealed that students
have interest in mathematics and lagging part in teaching mathematics should be
identified to make it more interesting. Below charts represent number of students
who like mathematics and why do they like mathematics.

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Students tend to memorize mathematics formulas and derivations rather

than understanding the concepts. This makes gap between students and
application oriented problems by The Principle, Kendriya Vidyalaya.
Survey with students revealed that students tend to understand and memorize as
well. This was subjected for students above 5 th standard since students below 5th
standard memorize more. Based on survey and interview, students like to play
computer games and also are willing to learn through computer or online apps. To
provide online products, we have conducted survey to know what kind of games
students like to use. Students like simulation based games like Temple Run, GTA,
etc. than puzzle games. Hence, we have decided to provide online products which
involve more simulation. We also found that comprehension has been a barrier for
most students in understanding and solving math problems. So we decided to
bring in more learning materials that are visually interactive.

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Secondary Research
PSYCOLOGY BEHIND PEOPLE HATING MATH AND OUR SOLUTION TO IT
by Prof. W. George Jones, Virginia University
Many students develop intense anxiety associated with math, especially math tests.
Commonly termed "math anxiety," this phenomena can be a major barrier to
gaining access to a variety of skills. Assessment Survey of 9,093 students, 25.9%
reported moderate to high need for help in managing math anxiety. Clinical
psychological theory suggests that this roadblock can be ameliorated via a
combination of user friendly appropriate models. Two methods of teaching were
tested among a group of students in 1999 and 2000, the result showed a positive
result when interactive math system is followed.
Year
1999
2000

Enrolled
12
19

Unsatisfactory
17%
11%

Average
42%
5%

Satisfactory
42%
84%

INNOVATIONS IN TEACHING OF MATHEMATICS - by Prof. Rachna Patel,

Waymade college of Education
Teaching of mathematics is not only concerned with the computational knowhow of
the subject but is also concerned with the selection of the mathematical content
and communication leading to its understanding and application. So while teaching
mathematics one should use the teaching methods, strategies and pedagogic
resources that are much more fruitful in gaining adequate responses from the
students then we have ever had in the past. Innovations in teaching of
mathematics can be diversified in terms of Methods, Pedagogic Resources and
Mastery Learning Strategy used in teaching-learning process.

1. Mastery Learning Strategy

Teaching Strategy is a generalized plan for a lesson and includes a specific
structure to be followed. B.S. Bloom has developed Mastery Learning Strategy. It is
a new instructional strategy that is used for developing mastery learning and
objectives of curriculum can be realized. It consists of different steps: Division of
content into units, formulation of objectives related to each unit, teaching and
instruction are organized for realizing objectives of each unit, administering unit
test to evaluate the mastery level and diagnose the learning difficulties, remedial
instructions are given to remove the difficulties and attain mastery level by every
student. This strategy plays an important role for learning of basics and
fundamentals

2. Methods
Method is a style of the presentation of content in classroom. The following
are the innovative methods that can be used to make teaching-learning process of
Mathematics effective. Inducto-Deductive Method, Analytico-Synthetic Method,
Problem-Solving Method, Play-Way Method, Laboratory method. Teaching aids like
SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

charts, manipulative, programmed learning material, computer and television.

Activities like quiz, projects, role plays, seminars, discussion, math clubs and labs,
assignment and field trips.

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Leaders / Companies in innovative learning process

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

Friday Institute for

Educational
Innovation
Innovation in teaching and
learning
Education workforce
development
Technology to enhance K-12
Education
Evaluation and policy
analysis

Center for innovation in

Engineering and Science
Education - Stevens Institue
Of Technology
Projects on improving
mathematical literacy for
undergraduate, graduate,
research and scholarship
Instruction
materials for K-12
SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS 9
Engineering Resources

Organization Structure
Different managers are involved in business management to perform different
functionalities across target markets. Below is a sample structure of the
management.

Director

Operation

Employees to
perform order
management
and logistics

Mela
Contractors

Finance

Marketing &
Sales

Systems

Finance
experts to
manage
finance section
and perform
audits

Sales and
Marketing
experts to
increase sales

IT experts to
manage online
product line
and to manage
technology

Marketing Analysis
Products and Services
Products and services proposed
after
performing
market
research are both online and
offline. Also proposed products
and services are designed after
considering
different
target
segments.
Primary
and
secondary
market
research
emphasizes on online simulation
games. Offline products and
services
include
maths
exhibition which include real
time problems and solution from
mathematics, games which are
available offline to play with
computers and mobile devices.

Products
and Services
Online

Offline
Portable Mela
Facility

Simulation
Games

Hidden Maths Graphics Game

Puzzle Games
Video tutorial

Strategy Board
Game
Books and CDs

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

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Products details and Segments

Product Name
Short
Description

Target
Audience
Motto
USP
Positioning
Distribution
Plan
Promotion
Strategy
Online
Marketing
Strategy
Value addition
Pricing
strategy
Cost
components

Product Name
Short
Description
Target
Audience
Motto
USP
Positioning

Portable Mela
Portable Theme Park is a Live Offline Product. It is set up
temporarily in a region (Schools who have taken our product)
for a few days and contains a Mathematical world where
visitors see various avenues to apply mathematical logic to
crack challenges and at the same time enjoy in the open
environment.
People of all genre
To make maths fun for children by constructing live models
To enjoy maths and having fun at the same time
Common to all who want to have fun by learning basic
Mathematics
The distribution plan of this product includes a team who sets
up this physical arena at a strategic location attracting a
larger crowd
Since it is confined to a particular region we would use
pamphlets and local media channels like newspapers and
television channels
Online marketing strategy for this product is to reach to end
users who seek to learn basic maths and looking for a Holiday
outing. Such filters can be set on data available from social
media collaborations.
This product brings better visibility of the firm and creates
brand awareness
It is a part of the fee that is charged to the students as a part
of the package sale, external people would be charged a
minimum base price for entry
Physical infrastructure, analytics team, media communication,
transportation change and the planning and execution team.

The Hidden Maths- Graphics Game

Graphics Games are games available on both Mobile,
Computer and Social Media Platforms which engages masses
by having highly interactive display features
People of all genre
To engage everyone in learning maths while playing games on
different platforms.
Gaming with mathematical processing in subconscious mind
The product will target different segments of people
differently. The concepts like arithmetical & geometrical
progression, profit & Loss, Equations, Projectile, etc. can be

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

11

Distribution
Plan
Promotion
Strategy
Online
Marketing
Strategy
Value addition

Pricing
strategy
Cost
components

Product Name
Short
Description
Target
Audience
Motto
USP
Positioning

Distribution
Plan
Promotion
Strategy

Online
Marketing
Strategy
Value addition
Pricing

tested in any situations/theme like this created for the best

engagement of the target audience
The distribution plan of this product is via Social Media and
online website
Promotion activities will be taken in Social Media
Online Marketing will be a key medium as the product relates
to social media and target audience who are well connected
via internet and computers.
The end consumers dont pay for this product. This product
bring publicity of the brand along with large amount of Social
behavior data of people using this. This is a rich source of
information for Big Data Analytics which can be monetized.
This product is for free and designed for spreading knowledge
The cost of the product will include cost game development
team, professionals, Promotional Marketing-both online and
offline
Strategy Board Game
A strategic board game which covers concepts of Maths and
tests on the practical application in real time against the
opponents.
For age group between 5 to 15
Motto of this product is to engross more maths loving people
and give them opportunity to apply and win to their opponents
Covers various mathematical concepts as we play to win a
board game
The board games will be positioned as a knowledge product
rather than a game. This will target parents, who has a major
share in buying products for children.
Distributors and retailers play a major role. Retailers can
suggest gifts/games to parents for their children.
Promotional activities include publicizing the product at fairs,
promotional schemes for buying a combination of products,
and letting children try the product and interact with different
children who are engrossed in it at the same time.
The Online Marketing will target the parents who are looking
for interesting games on the net. It will also target people who
are looking for Birthday Gifts for children between 5 to
15years of age
A source for income for the firm and also brings visibility of
brand
The product price of this product can range from INR 200/- to

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

12

strategy

Cost
components
Product Name
Short
Description
Target
Audience
Motto
USP

Positioning

Distribution
Plan
Promotion
Strategy
Online
Marketing
Strategy
Value addition
Pricing
strategy
Cost
components
Product Name
Short
Description

Target
Audience
Moto

450/- depending on the complexity of the game. This is an

average which any Indian household loves to spend on board
games for children and try new knowledge products
The cost of the product includes developing the board game,
packaging and marketing, distribution.
Books and CDs
Books and CDs cover various topics of Math in a simplified
manner
People of all genre
To reach to larger audience by a physical product which is
more portable and feasible.
This book has complex problems which could be solved easily
by applying math in a more efficient way. People prefer books
which are not thick and are interesting and this modular
structure for various topics serves this purpose.
These books will look to impart knowledge on all kind of
topics. Separates modules will be created for each student
grade by clubbing multiple topics.
The books will be available on both online and offline book
stores. Online ecommerce tie-ups and retailer both will be
distribution partners for this product.
Promotion via newspaper, online social media advertisement
will be used to target people.
Social Media will act as a rich source to reach to people
looking for books on the relevant subject
A source for income for the firm which also brings visibility of
brand
Price of the book ranges from 100/- to 150/- which gives this a
competitive edge from other mathematic books also make sure
that it is accessible for all
The cost of the developing this source of knowledge will
include professional cost and marketing cost.
Simulation Game
Simulation Game is an Online Product designed for students.
These games covers various topics of Maths. Students are
divided into groups to complete their home assignment by
competing against their fellow mate on a virtual platform for a
given scenario
Secondary and Higher Secondary School Students
To increase the interest level for Mathematics among students

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

13

USP
Positioning

Distribution
Plan
Promotion
Strategy

Online
Marketing
Strategy
Value addition
Pricing
strategy
Cost
components

Product Name
Short
Description
Target
Audience
Motto
USP
Positioning

Distribution
Plan

by
engaging
them
by
giving
practical
world
problems/scenarios and test their ability at the same time
Learn by applying mathematical concepts
Group of students at different competency level will have
different complexity in their problem. Need to target rural
market and urban market differently by designing the problem
scenario as per their preference and liking
As the end users will be students of different grades,
distribution channel will be via Educational institutes.
Promotion of the products will be both though online and
offline medium. Since the channel is via school authorities,
personal selling will be a key feature to build relationship. To
create interest among students and build competitive
environment, scores of the top group will be posted on social
media like Facebook, thereby publicizing the product on larger
scale. School Magazines, student journals and teacher training
programs will be the key medium via which the product will be
promoted.
Since the end consumers are students and customers are
teachers and school authorities, and looking at the rate of
penetration of internet, online social media marketing will
have its key share.
This product will be the primary source of income for the
business
The price per game (4 hour slot) per student will be ranging
from Rs. 50/- to Rs. 75/-(INR). This price was arrived after
doing the primary survey in IIT Bombay
The cost of the product will include developing the game for
different topics for different competency level. The cost will
also have a share coming from commission to distributor, PR
Team, sales and promotion and advertising
Video Tutorial
Video Tutorial is set of lectures with simplified examples on a
plethora of topics
People of all genre
To spread knowledge of Mathematics free of cost on the web
Learn from the basics in a methodical and easy to understand
way
Different videos will aim at different target audience having
examples related to their personal lives. This helps them to
understand concepts in an easy way.
The videos will be uploaded on the website and will reserve all
the rights. Tie ups with You Tube and Google will be done to

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

14

Promotion
Strategy
Online
Marketing
Strategy
Value addition

Pricing
strategy
Cost
components

increase the traffic on the parent website.

Promotion will be via Social Media, word of mouth, student
journals, etc.
Online Marketing will be a key part to promote the product
due to its dependence on the internet platform. People looking
for Math learning or search any topic of Mathematics will be
targeted as potential consumer of this product.
This product brings huge traffic on the firm's website and
brings goodwill as these videos are free of cost. This acts as a
source for revenue for advertisement space on the video page
and user preferences can be of importance for other business
to understand the market.
This product is for free and designed for spreading knowledge
The cost of this product will include Mathematic Professionals,
Video Editing Team and Promotional Messages-both online
and offline

Market Sizing

If 500 private schools are targetted,

approximately 300000 students are
our target customers in our product
launch
Avg number of students studying in
private school is 95 million / 160000 =
600 students.
41% of Urban schools and 7% of rural
schools are private schools. Thus we
have 160000 private schools
12% of schools are in Urban cities and
36% of students study in private
schools which is 95 million
Total Number of schools is 1425100
and Total Number of school students
is 265 million

According to 2014 data, total number of

students attending schools is 265
million. We also have the total number
of schools in India to be 1.4 million. The
type of schools could be Government,
local bodies, Private and Private aided.
We have taken our market to be only
private and private aided schools. We
get the total number of private and
private aided schools to be 160
thousand. In a recent report published
by NCAER and IHDS it is stated that
36% of the total students study in a
private or private aided institutions.
Taking this assumption we get the
number of students in private schools to
be 95 million.
Thus on an average we get the total
number of students in one private
school is approximately equal to 600.
We also know that the coaching market
is growing at a rate of 15%. Since ours
is a new product we would assume that
we capture a market of about 500

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

15

P&L
Statement

1st
year

2nd
year

3rd
year

No. of
Schools
500
1000
1500
No. of
30000
Students
0 600000 900000
Profit
&
Loss
Estimates
Other Sales
Books (units)
25000
40000
40000
Profit &
Board
games
Loss statement
5000 is presented
5000
5000
below in which sales for first 3 years and
corresponding profit figures are estimated. Company seeks an investment of 2.5
Sales
million dollars in 1270
the span25000
of first 337000
years. Profit after tax at the end of first year is
turnover
000
00
00
$38525 but this is excluding investments in the beginning of business. At the end
Other
of
3rd year, total profit0after
tax is $403025
income
30000
50000 which includes investments since
incubation of business.
take 2 to 3 years to achieve break-even
12700 Hence,
253000it will
375000
rd
Net
Sales 5). At the
00end of 3 0year, $100000
0
(Appendix
is allocated for CSR activities which
make Net profit as $303025. (Appendix 4)
Expenditure
48750
141000
Particulars
Amount
Books
0 960000
0
20000
Investments
Simulation
0 250000 300000
Mela kit
20000
Website
25000
25000
25000
71250 123500 173500
R&D
150000
COGS
0
0
0
Launching promotion 500000
Advertisemen 20000
Website development
5000
t
0 250000 300000
Total Fixed Cost (1st
Misc.
year)
675000
expense
50000
60000
70000
20000
Additional capital
Salary
0 250000 400000
expenses
SG&A
50000
55000
75000
2nd year
100000
3rd year
100000
12125 185000 258000
Total cost
00
0
0
Total Fixed Cost
Profit before
117000
(at the end of 3rd
tax
57500 680000
0
year)
875000
Tax @ 33%
18975 224400 386100
Profit after
Total Profit at the
tax
38525 455600 783900
end of 3rd year
127802
(cumulative)
5

Financial Analysis

Profit including
fixed cost
(at the end of 3rd
year)

*All costs are in US Dollars

*Detailed P&L is attached in appendix
*References to estimations are attached in Appendix

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

16

403025

Interesting Sample Questions

1. In a bakery, quantity of milk required to make 1000kgs of milk cookies is
100ltrs. On a certain day, production manager decided to dilute milk
required to make 1000kgs of cookies. 100ltrs of milk taken out and replaced
with water. He performed this operation 3 times. What is the concentration
of milk in resulting 1000ltrs milk-water mixture?
Traditional approach: Tabulating each iteration and finding final
concentration level
Formulated approach: Since we are diluting 100% concentration liquid to
90% concentration in each operation, at the end of first operation
concentration of milk is 900ltrs. In each operation we are diluting the initial
liquid concentration to 90%. To put it in formulated way, if Y units of mixture
is taken out from X units of liquid and repeated for n times, then final
concentration of liquid is X*(1-(Y/X))^n units. With this simple formulated
approach, final concentration of milk is 729ltrs.
2. Investment plan of a bank stated by bank manager is Invest Rs.100000
today and get Rs.121100 @ 10% compounded interest at the end of 2 nd year.
Is that correct return?
Traditional approach: Applying Amount = Principle * ((100+R)/100) ^N
formula
Digit sum approach: 100000 * (110/100) ^2 ~ Digit sum = 1 * (2/1) ^2 =
1*4 = 4. Digit sum of 121100 is 5. Hence given amount is wrong. Actual
answer is 121000 which is having digit sum of 4.
3. What is the volume unfilled by 8 identical balls present inside a cube of side
4cms?
Traditional approach: Calculating volume of sphere with radius 1cm and
multiplying with 8. Then finding difference between volume of cube and
calculated cumulative volume of balls.
Similarity Property: Similar size cubes hold same ratio of volume occupied
by spheres irrespective of size of the sphere. In other words, sphere of
diameter 4cms in a cube of side 4cms occupy same space as volume
occupied by 8 spheres of diameter 2cms in a cube of side 4cms. Volume of
sphere of diameter 4cms should be calculated and subtracted from volume
of cube to find unfilled space in cube.
4. Consider you are a king. You have one servant and 200 prisoners. Tomorrow
you are hosting a party for which you have got 900 bottles of wine. Later you
got information that one of the bottles is poisoned. You have also come to
know that it will take 12-15 hours for a person to die on consuming the
poison. How will you find the poised bottle using minimum number of
prisoners so that I will have 899 bottles of wine to serve for my guest?
Traditional Approach: People think logically and try to solve in many
different ways

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

17

Using Combination: Use combinations. Bottle Perso

Perso
Perso
Each prisoner has two options either to
n1
n2
n3
have wine or not to. You have 900 bottles. Bottle
0
0
1
Thus 900 should be equal to or less than 1
2X. Thus 10 prisoners will be able to test Bottle
0
1
0
1024 bottles and depending on the number 2
of persons dead we could conclude the Bottle
0
1
1
bottle that is poisoned. An illustration by 3
taking 8 bottles and 3 prisoners: If no one Bottle
1
0
0
dies I would conclude that bottle 8 is 4
poisoned. If all dies bottle 7 is poisoned.
Bottle
1
0
1
5. Consider you are hired for a job by
5
one of the top companies of the Bottle
1
1
0
world. They want you to increase the 6
sale of their product by 10% in a Bottle
1
1
1
months time. They will pay you 7
either on the last day of the month Bottle
0
0
0
or on a daily basis. If you opt for 8
onetime payment you would be given
with 1 crore rupees. If you opt for a payment on a daily basis you get 1 paisa
on the first day and the amount doubles every day. Which one would you
choose?
Traditional Approach: People tend to choose 1 crore since 1 paisa is
negligible
Using GP and Log: Sum of GP series with R=2, N=30 and A=0.01is
0.01*(2^30 1)/ (2-1). 2^30 can be calculated using logarithms. Applying
GP and Log concepts, final sum is more than 1 crore.

Other Findings
Sustainable business
To bring more customers, new programs should be included for current customers
so that existing customers get benefits and add customers. Two different programs
are recommended below for sustainable business.
Reference Program: Introduce reference program to existing customers through
which new customers can be referred and get benefits. Benefits can be monetary
or non-monetary and it depends on referral concept applied for business.
Binary tree concept in which for each successful binary node pair (Two
children, one in left and one in right) added by a customer, reward bonus or
loyalty points should be provided
Reward /Referral bonus for each referral as a percentage of revenue
generated from new customers
Loyalty bonus points for customers who are referring new customers and
they can redeem points
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Give free or discounted exhibition passes or other products for successful

reference of customers

Cross-Selling: Categorize existing products into different upgradable levels in

terms of price. Thus segregation of products at different levels and in different
prices give recommendation for chosen products by customers. Cross-selling can
also be applied for validity of products (extended validity options) and special
services like exhibition service.

Business Card
While business cards are abundant among customers, new business card should be
memorable and also should remind about the coach often. Since our core idea is to
make math simple we will make sure we convey the same in our business card as
well by keeping it simple with a few math symbols in it.

Certifications

Certification in Mathematics Leadership and coaching Drexel

University
This program is for people who have successful maths teaching experience
and is committed to implement student-centric and problem based
instructional practice.
Mathematics Coach Endorsement Program
The program is intended to improve a teachers mathematics content
knowledge, instructional strategies, and leadership skills to support the
professional growth. This program is recognized by the Pennsylvania
Department of Education.
Mathematics Coaching Program - The Ohio State University
The Mathematics Coaching Program (MCP) is designed as a training
program for experienced teachers. These coaches team with teachers, in
their classrooms daily in six-week rotations, and assist them in implementing
research-based strategies that help students learn math.

Other Suggestions
CRM Module: Customer Relationship can be well maintained by implementing
CRM modules in the organization. Through this system, continuous engagement of
users, updates about user activities and visual presentation for users can be
improved. Dashboards, E-Mails, SMS services, Social media connects, etc. are part
of CRM. (Appendix 9)
Social Responsibility: This responsibility program aims in value creation to
people who has no link to math subject but there is a necessity in their lives to
know certain concepts. This program will also help people who are being exploited
due to lack of knowledge in math. Literacy data is provided in appendix 6, one
part of our vision is to make math accessible and easily understandable to the
entire society and the notable point is poverty level are high at low literacy places,
this will be a hindrance in the progress of the program. But leaving out this many
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people who are in need of math knowledge will not fulfill our values. No. of
illiterate people: 36 crore, our estimated reach in the five years: 1 crore.
Methodology: We will create products which are of utmost importance to them.
(Ex. Salary, interest, trading calculations). The challenge is to reach them, for
which we have planned to collaborate with different NGOs who have a strong
presence in these regions. These NGOs will take our products and explain to
people how to use them and spread awareness about math. The cost of the project
will be covered from sharing resources of NGO and separate pitching will be done
to philanthropist.

Roadmap
We would be investing $19, 00,000 in the first year with $675,000 being a one
tome investment and we would be getting a PAT of $ 38,525 and in 2nd year we
will be investing $ 580,000 followed by an annual investment of $ 100,000 from
PAT every year. The BEP is achieved at the end of 3rd year and ROI of 255% will be
achieved at the end of the 5th year (Appendix 8).

Reference

Applying Psychology to the Teaching of Basic Math: A Case Study by W. George

Jones
INNOVATIONS IN TEACHING OF MATHEMATICS by Rachna Patel, Lecturer,
Waymade College of Education, Vallabh Vidyanagar
http://www.mapsofindia.com/maps/india/india-poverty-map
http://www.theguardian.com/teacher-network/teacher-blog/2013/jan/30/love-english-

hate-maths-teacher-schools
http://www.ncert.nic.in/programmes/education_survey/pdfs/Schools_Physical_Ancilla

ry_Facilities.pdf
http://mhrd.gov.in/sites/upload_files/mhrd/files/statistics/EAG2014.pdf
http://www.thehindubusinessline.com/industry-and-economy/the-coaching-class-

industry/article5490245.ece
http://www.thehindu.com/features/education/school/more-children-going-to-private-

schools-ncaer/article5852182.ece
http://www.google.co.in/ads/displaynetwork/manage-your-ads/manage-costs.html

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Appendix
Appendix- 1
Primary Research
Interview with senior math teachers in Kendara Vidyalaya School, Powai
What is the students mentality towards math?
The major point is students are no more feared of math. Many students are liking
the subject nowadays, their aptitude skills have gone up.
What are the Challenges faced by students? Any suggested solutions for the
problem?
The Comprehension ability of the students is poor which a hindrance in
understanding the question completely, and they are unable to solve the questions.
These students maybe poor in all subjects. The solution to the problem is making
the learning process in Practical ways, thus how the concepts of math lab has
evolved.
How to make math interesting for small kids?
The teaching approach nowadays is learning by doing ex. Models, games etc. we
have to find out ways to engage students in a better way, create a self-interest
rather than a compulsion. We feel class room teaching is important, offline
products are essential so that we can use in the class and create interest among
them. One of the problems in offline products is only interested students play
enthusiastically the others just watch and doesnt bother to learn
How online products like Simulation game have an effect on students learning?
This is one of the ways to engage the students since they are already occupied and
spend time in online. There is technological inclination among students which you
can leverage. These games should be designed in a way such that after class they
can practice at home and learn the concepts that were taught in the class, this
should not look similar to an exam but it should help them in understanding the
concepts
Why students hate math?

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

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It is a dry subject, no one is interested in listening to traditional class now, and we

are unable to show practical things to them we are only telling them it is being
used in certain applications in real life which is not sufficient, second would be
Exam focused study method is there in lots of classes, which doesnt provide
enough time to students to practically understand the concepts. The important
issue is parents are forcing their children to take math even though the student is
not interested in the subject.

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Appendix- 2

Sample Questionnaire

SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

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Appendix-3 Market size Calculation

Year
India - '000

Pre-Primary School Pupils

India - '000

Primary School Pupils

India - '000

Secondary School Pupils

India - '000

Higher Education Students (Incl. Universities)

Expenditure per Student in Secondary Education in

Purchasing Power Parity Terms
Expenditure per Student in Higher Education in
Purchasing Power Parity Terms
Population Aged 0-14: January 1st

Pre-Primary Schools
Primary Schools
Secondary Schools
Universities and Higher Education Establishments

Population by Educational Attainment

% of private
schools in
India
41.1
7.16

GRAND TOTAL OF PRIVATE SCHOOLS

(5)
Total no. of students (in '000)
Percentage of private school
students (in %)
Total no. of private school students
(in '000) (6)
student per school (in '000) (7)

2011

2012

2013

2014

63.2

63.3

63.3

63.4

70.4

40,294.9
0
138,368.
10
101,110.
40
18,500.3
0

41,301.5
0
138,413.
80
107,686.
90
20,740.7
0

42,859.0
0
137,746.
80
113,727.
90
26,651.0
0

45,308.3
0
138,097.
40
117,578.
30
29,258.8
0

48,058.2
0
138,531.
50
121,783.
10
32,109.2
0

50,101.60

139,027.10

125,985.80

35,070.50

501.4

556.5

589.7

587.7

609.4

611.7

2,860.50

2,818.20

2,545.90

2,377.90

2,450.80

2,444.90

363,911.
20

365,012.
30

366,053.
80

366,985.
40

367,754.
00

368,387.60

India Number
India Number
India Number
India Number

66,878.0
0
789,444.
00
520,286.
00
26,399.0
0

67,822.0
0
823,162.
00
558,388.
00
26,474.0
0

68,413.0
0
748,547.
00
647,784.
00
25,419.0
0

68,653.0
0
747,598.
00
658,505.
00
25,993.0
0

68,727.0
0
746,349.
00
671,330.
00
26,426.0
0

68,830.00

India - '000

810,315.
90
356,573.
20
817,653.
90

827,194.
80
366,663.
30
825,543.
70

844,139.
60
377,105.
80
833,087.
70

861,142.
00
387,746.
90
840,380.
50

878,207.
10
398,709.
90
847,251.
20

India - '000

Rural Population

% of schools
12
88

2010

63.2

India international
dollar
India international
dollar
India - '000

India - '000

Urban Population

Schools in
India
Urban
Rural

2009
India - %

India - % of population aged 15+ (adult literacy)

No. of
secondary
schools (1)
81818
598935

160178.
2
265012.
9
36
95404.6
4
0.59561
6

No. of
private
secondary
schools (2)
33627
42883

No. of
primary
schools in
India (3)
89470
654952

(1) Total no. of secondary schools *

% of schools in urban/ rural
(2) (1)* % of private schools in
India urban/ rural
(3) Total no. of primary schools * %
of schools in urban/ rural
(4) =(3)* % of private schools in
India urban/ rural
(5) = (2) + (4)

(6) = Total no. of students * 0.36

(7) = (6)/ (5)

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744,423.00

680,754.00

26,738.00

895,235.00

409,947.40

853,675.20

No. of
private
primary
schools (4)
36772
46894

Appendix- 4
(all units in USD)

P & L Statement for 5 years

P & L Items
Schools (1) (No. of schools)
Students (2) (No. of customers)
Other Customers
Books (No. of customers)
Board Games (No. of customers)

Sales Turnover (3)

Other Income (4)
Net Sales
Expenditure
Cost Of Goods Sold

1st
year
500

2nd year
1000

300000
25000
5000
127000
0
0
127000
0

600000

3rd
year
1500
90000
0

4th
year
2000
120000
0

5th
year
2500
150000
0

40000
5000

40000
5000

40000
5000

40000
5000

37000
00
50000
37500
00

490000
0
75000
497500
0

610000
0
100000
620000
0

14100
00
30000
0
25000
17350
00
30000
0
70000
40000
0
75000

186000
0

231000
0

350000
25000
223500
0

400000
25000
273500
0

350000
80000

400000
90000

450000
80000

550000
90000

25800
00
11700
00
38610
0
78390
0

319500
0
178000
0

386500
0
233500
0

587400
119260
0

770550
156445
0

2500000
30000
2530000

Books (5)

487500

960000

Simulation (6)
Website (7)

200000
25000

250000
25000

Cost Of Goods Sold

712500

1235000

Advertisement (8)
Miscellaneous Expense (9)

200000
50000

250000
60000

Salary
SG&A

200000
50000

250000
55000

Total Cost

121250
0

1850000

Profit Before Tax

57500

680000

Tax (10)

18975

224400

Profit After Tax

38525

455600

(1) At first year we convert 500 schools as our customers. Every year we add 500 schools
as our customers
(2) Average number of students in a school is 600 (from APPENDIX- 3)* (1)
(3) S.P of our products to students is $4 (cost of entire package), books is $2, board
games is $4
(4) Consist of revenue from advertisements
(5) C.P of books is $ 1.5 per book
(6) Includes maintenance cost and enhancement of the simulation product
(7) Website maintenance cost
(8) This includes Pamphlets, social media ads and TV ads
(9) Charges for transportation, setting up of Melas, etc.
(10)
Corporate tax 33.3% in INDIA
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Appendix - 5

BEP CALCULATION

FIXED COST
MELA
SIMULATION DEVELOPMENT
Launching promotion
website development
total fixed cost
additional capital expense
2nd year
3rd year
total fixed cost (at the end of 3rd year)
profit at the end of 3rd year (cumulative)
profit including fixed cost (at the end of
3rd year)

Appendix 6

Appendix 7

(in
USD )
20000
150000
500000
5000
675000
100000
100000
875000
1278025

(1) Includes cost of making

models for mela
(2) Includes promotion in TV
specifically for launching
(3) Summation of profits from
1st, 2nd, and 3rd year

Profit including fixed cost turns

into positive at the end of the
third year and the Break-even
happens at 3rd year

403025

Poverty and Literacy in India

Literacy Rate in India (low

Poverty in India (High

shade colors have less

literacy rate)

shade of colors have high

property)

Cost of advertising

The count of telecasting during a cricket match will be around 20 per game which
can be after each wicket in the game or during the last critical overs. The count for
sitcoms per day will be 10times (5sitcomes* 2period breaks per sitcom of 30mins)
SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

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and a total of 14days. This will create a buzz among parents and general people at
large as these Ads will be featured 140times during sitcoms and 100times during a
cricket season

Appendix - 8

Road Map

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SOM STUNNERS | BUSINESS PLAN FOR INNOVATIVE MATHEMATICS -

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Appendix- 9 Detailed plan of CRM module

After every 24 hours, system

sends two questions to the
student on the covered topics
with a link to the website to
answer

Student
registration
Generates unique

Tracks student

Student covers 2/5

modules in a particular
topic

Customer
Relationshi
p
Manageme
nt

Student will not be allowed to

continue with the remaining
modules unless he answers these
questions. If the answer is
wrong, then he would be

After every 15 hours, system

sends important formulae or
concepts related to the
modules covered

(CRM)

Sends reminder
communications to the
student half an hour before
to take part in online

Send invitation SMS

and email to
participate in online
courses which are
relevant to the student

After every 50 hours, students

will be reminded about their
pending courses to be
completed

Detailed
master
contact list

Students will be reminded

about the online platform
available to ask doubts, if any

Corresponde
nce tracking
Engagement

Inform students about the

advanced topic update or new
modules to the existing topic

Initiates promotion campaigns

with the help of students via
SMS and email to share
Facebook page
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