New York, NY (PRWEB) September 19, 2014
Magnus Gyan secured 1st place in the 24th edition of Outsource Brazil’s BootCamp, an event promoted by Startup Brazil and backed accelerator Outsource Brazil in partnership with SEBRAE. The event held a competition in which 23 startups were evaluated by a panel of 5 VCs along 6 parameters: Business Model; Scalability; Market Opportunity; Innovation; Presentation Skills & Management Team.
“We are honored to have been selected as the best overall presentation by a Jury of prominent VCs including Gera Ventures and Criatec” says Kartik Kilachand, CEO and Co-founder of Magnus Gyan. The BootCamp is a training program for entrepreneurs looking for investments. The companies had to give a 3-minute elevator pitch in English and/or Portuguese, some in preparation for the upcoming ‘TechCrunch’ in Silicon Valley.
"The prestigious, 1st place selection of Magnus Gyan by Outsource Brazil reflects the scalable, high-growth niche the company is realizing by providing tablets at a substantially reduced price point compared to all others in the market while continuing to enhance device quality. The combination of an affordable mobile Internet device, coupled with cutting edge interactive & adaptive content makes MG a leader in providing bundled EdTech solutions for students in the growth economies. Magnus Gyan's devices are the next generation in tablet innovation, providing large-scale accessibility for the first time to a vast segment of the market that has been unable to benefit and participate from this important technology, given the high cost of competitive products. The recognition earned through this program is further evidence of the company's tremendous growth trajectory," commented John Danielson, former Chief of Staff for the United States Department of Education and member of Magnus Gyan's Board of Directors.
Specializing in the development of low cost educational solutions, the US startup Magnus Gyan, accelerated by Outsource Brazil, just closed its first deal of BRL 1 million with Cultura Inglesa Rio, Brazil’s premier English Language Training Institute with an outreach of 100,000 students. “Considering the very high standards of Cultura Inglesa, it is extremely difficult to enter into a commercial collaboration with them without going through an arduous evaluation and selection process,” said Mr Kilachand. “This is a big breakthrough for Magnus Gyan as it establishes our product as the leading high quality affordable bundled solution for education in Brazil “.
Magnus Gyan distributed 2000 devices embedded with software content to seven Cultura Inglesa franchises around the city of Rio. The tablets were customized with Cultura Inglesa’s content, the Learning Factory Educational application (Cultura Inglesa’s in-house publisher), to develop the English speaking abilities of public school teachers.
About Magnus Gyan:
Magnus Gyan’s vision is to bridge the 'Digital Divide' by providing high quality interactive & adaptive education bundled solutions. These solutions are deployed on our exclusive proprietary tablet to students and young professionals, especially to the burgeoning middle class of developing economies.
Most emerging economies are investing huge amounts in building internet technology infrastructure such as optical fiber cable lines, 3G and 4G LTE data transmission also known as the ‘last mile connect’. Until Magnus Gyan’s release of their low cost high quality affordable tablet, the one missing piece has been the 'last person' link. This link is an affordable low cost mobile access device, with which any individual can connect to the Internet and hence to information and knowledge. By combining this low cost device and our educational content, Magnus Gyan is one of the first bundled solution Edtech providers in Brazil.
About Outsource Brazil
Mature and with solid experience in IT and internalization markets, Outsource Brazil has a long standing track record in terms of helping American firms enter the Brazilian market, as well as helping Brazilian companies operate in the United States. As one of the nine accelerators selected by Startup Brazil, the company stands out among its peers based on its wealth of operational expertise and industry knowledge, specifically in the tech sector. The company’s DNA is a mixture of Brazil and Silicon Valley, with locations in Rio de Janeiro’s Instituto de Tecnologia ORT (ORT technology institute) for the past 12 years as well as in San Francisco, California.