ExtensionEngine Selected by Magnify Ventures to Establish Next Generation Online University

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Initiative Creates New Learning Experiences, Opportunities for International Students

ExtensionEngine, a leading provider of Custom Learning Experiences, today announced it was chosen by Magnify Ventures, an emerging leader in online education, as a technology partner on the development of a new online university.

Founded by entrepreneurs with extensive experience in emerging markets along with a bold vision around the need for a modern higher education offering, Magnify is establishing a new online learning initiative to educate a growing base of international students seeking access to a high-quality higher educational experience. The kind of experience that aims to fill the gap that currently exists between employer expectations and student education.

“With this initiative, we are seeking to address one of the key challenges impeding growth in developing markets - access to skilled, educated talent,” said Fadl Al Tarzi, Managing Partner, Magnify Ventures. “UNESCO is reporting 100 million students could find themselves unable to attend university by 2025 due to a shortage of university seats. Poor educational standards coupled with a looming shortage in university seats across developing countries are leading to a growing talent gap. We are creating a best of breed technology-based educational experience to ensure learning is aligned with rapidly evolving markets. We chose to work with ExtensionEngine because of their experience with innovation at elite universities such as Harvard, MIT and the University of Notre Dame. ”

“Magnify is taking an innovative approach with this initiative. They have asked us to build the technology required to support the learner and the market,” said Furqan Nazeeri, Partner, ExtensionEngine. “They are thinking big and have none of the constraints that legacy approaches and technology imposes on most in higher education. We’re excited to be working with them on this ground-breaking project.”

“We’ve been anticipating a disruption of the traditional, classroom-based delivery model of higher education for two decades now. Some saw early evidence of it in the growth of online master’s programs, others in the MOOC explosion of five years ago, while more recently others have turned their attention to the promise of competency-based education models,” said Peter Stokes, Managing Director, Huron Consulting Group, which is also consulting Magnify on this project. “Magnify is setting out to bring the best of these capabilities to a global market at scale, at a very affordable price. That has the potential to be truly disruptive – bringing high-quality educational programs to emerging markets of higher education consumers around the world, supported by an engaging curriculum and state-of-the-art personalized learning technologies.”

About Magnify Ventures
Magnify Ventures @magnifyventures is a hybrid technology firm. We combine operating technology startups with an angel fund, both designed to run, build and invest in disruptive businesses - while making the world a better place in the process. Our sector of focus is online education. We’re entrepreneurs, innovators, and business people who have built and operated successful organizations—not financial analysts or venture capitalists looking for the next big idea. Magnify Ventures does not intend to find cures to the world's diseases or to foster world peace, rather our intent is to invest in highly promising and innovative ideas which have the ability to positively impact our world one step at a time.

About ExtensionEngine
ExtensionEngine develops Custom Learning Experiences, delivering online and blended programs for universities, corporations and not-for-profits. Leveraging the latest advances in learning science and technology, the company takes a comprehensive, unbundled, fee-for-service approach to develop programs that engage learners, encourage collaboration, and increase retention. A privately held company based in Cambridge, MA, ExtensionEngine has launched over 70 programs for more than 40 organizations. To learn more, visit http://www.extensionengine.com.

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Donna von Halle
ExtensionEngine
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