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LiketoBe

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An online platform connecting students with professionals for impartial, real world, careers advice.

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Funded
£150,005 target
£195,404 from 0 investors
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Business overview

Location Plymouth, United Kingdom
Social media
Website www.liketobe.org
Sectors Content & Information Digital Mixed B2B/B2C
Company number 09198577
Incorporation date 26 Apr 2017
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Investment summary

Type Equity
Valuation (pre-money) £753K
Equity offered 16.61%
Tax relief

EIS

Idea

Introduction

LiketoBe is an Ed Tech opportunity built to disrupt the analogue world of Careers Advice. Using a unique platform and content, LiketoBe connects teachers and students with professionals to provide impartial, real world careers advice.

Much like Tim Peake (the British Astronaut), via technology; our founder, polar explorer Antony Jinman has engaged live and direct with classrooms while on various expeditions. Instant reaction and subsequent feedback, from teachers and pupils alike, demonstrated that technology represents a wide reaching, penetrative gateway to informing and inspiring young minds.

We, realised that this could be relevant to any career and throughout a child’s education, starting with primary schoolchildren, by simply asking “what would you ‘like to be'?”

The aim of LiketoBe's branded networking platform is to enable fast paced, monetised scale up of the concept. We are now seeking to raise a minimum of £150k.

Intended impact

Over 83% of schools have no careers guidance staff. Where, current career guidance is provided, we believe it is ineffective and disconnected from reality; demonstrated by:
• the fact that over 75% of 16-18 year olds have no idea of what they want to do after leaving school
• those who have a clear picture of what they want to do often do not know how to achieve it, often relying on their parents as their source for guidance.

LiketoBe was developed to address and resolve these issues that have prevailed for generations. LiketoBe places employers’ vested interest in education to effective use by providing a secure, online community where all key stakeholder groups are engaged; Students, Teachers and Commerce & Industry.

Unlike any that has preceded them, we believe the 1st generation to benefit from LiketoBe will be aware of what to do and how to do it as they transition from education into their professional lives.

In addition to being a high growth, scaleable concept, LiketoBe should become a potent force for enabling social mobility.

Substantial accomplishments to date

Since 2015 and on a referrals basis, LiketoBe has run a number of online pilots across a large number of schools in the South West with cumulative revenue of c.£150k.* This was achieved from a blended approach of:

• a prototype website (Education Through Experience - ETE) linking schools with university fieldwork and research at Plymouth University and University of the West of England.

• and in partnership with Network Rail building awareness of career pathways that engineering provides.

In the last 6 months, our focus has been in developing LiketoBe into a scaleable proposition that we believe is highly differentiated and safeguarded by LiketoBe branded and owned IP. Key to this are features and functionality built into the platform that provide a distinctive and compelling user experience for all 3 key stakeholders; Students, Teachers and Commerce & Industry.

LiketoBe has also participated within a number of start-up initiatives inclusive of the School of Social Entrepreneurs, Seedbed Program and Entrepreneurial Sparks (Bristol).

“There is a massive skills shortage of engineers across all sectors here in the UK, not just the rail industry. Network Rail sees LiketoBe as a great opportunity to engage with young people and demonstrate what opportunities are available to them, whilst helping to raise aspirations towards STEM careers.” Jane Austin Head of Engineering Network Rail.

* Based on unaudited management accounts.

Monetisation strategy

We intend to apply freemium principles whereby a basic user profile can be set up at no charge with a simple matrix of options for companies and individuals to upgrade to monetised subscriber packages.

Subsequently, once established, we believe the capability to track how aspirations evolve throughout young people’s education will generate and capture new and valuable insights. This should provide LiketoBe with an additional revenue streams.

Use of proceeds

Funds raised will help ring-fence Liketobe’s market advantage via enhanced functionality of the web platform and should bring on stream sales and business development resource.

The company currently has an outstanding director's loan of £38k. Funds raised will not be used to repay the loan.

Market

Target market

The aspiration is to embed LiketoBe throughout education in the UK with content encompassing any conceivable career that exists today and in the future within Commerce & Industry.

As such, the target market covers 8.2 million young people attending 24,372 schools that employ over 400,000 teachers (Department of Education, 2012), with currently a further c.2.3 million higher education students and c.30 million professional people working in over 5.5 million businesses.

Once established within the UK, we intend to replicate the business model internationally.

Characteristics of target market

LiketoBe fits within the innovative, emerging market space that is Edtech, (Education Technology). Technology can be expected to continue to play an increasingly important role in shaping and delivering Education.

Education technology is becoming a global phenomenon, and as distribution and platforms scale internationally, the market is projected to grow at 17.0% per annum, to $252bn by 2020.

Marketing strategy

Over the past two years we believe we have developed a reputation in the South West for linking scientists and engineers into schools. We aim to build on this experience and concentrate on developing brand awareness for connecting STEM* related careers into hard to reach rural and schools in social deprived areas across the South West.

We have built partnerships in both education and within the engineering sectors which we can further develop. Network Rail has already helped introduce us to other engineering and construction companies. We believe developing these partnerships will create further opportunities within the first 12 months following this fundraise.

During years 2 and 3, post fund raising, we aim to provide schools and higher educational institutions with access to wide ranging content and professionals, encompassing numerous career pathways, (not just STEM) for young people to be stimulated and inspired by.
*Science, Technology, Engineering and Mathematics.

Competition strategy

Edtech is a relatively new but fast emerging market space. Current participants include FutureLearn, SCool, U Explore and an increasing number of new entrants can be expected to appear.

We believe Liketobe is highly differentiated from any existing offering: access to real-life, impartial careers advice via a secure, online environment is to our knowledge a unique proposition that should be safeguarded by the Liketobe’s own brand and IP.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for LiketoBe has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 4 July 2017 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £753,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

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