The ONE-STOP platform for PARENTS to manage lives around their kids, efficiently and effectively.
Business overview
| Location | Beckenham, United Kingdom |
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| Social media |
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| Website | www.nurturey.com |
| Sectors | Home & Personal Digital B2C |
| Company number | 8998552 |
| Incorporation date | 15 Apr 2014 |
Idea
Introduction
1) Vision:
Nurturey aims to be the one-stop companion for parents in their quest to effectively and efficiently manage their lives around their kids.
2) Problem space:
On one hand, parents have to manage an onslaught of routine information, documents, activity planning, interaction with other parents etc; on the other, it is impossible for parents to follow, let alone implement, overwhelming amount of information/resources available today on parenting - Life around kids just keeps getting busier, and often overwhelming.
3) Product proposition:
With its ORGANISE, NURTURE, TEAM-UP and CHERISH model, Nurturey offers tools to efficiently manage every aspect of life around kids. Moreover, it aims to connect parents with ONLY the most relevant information/resources, empowering them to be pro-active in nurturing their children.
With multi-device access, Nurturey wants to bring control to parents' fingertips, while instilling confidence in them that when it comes to their children, they won’t miss a thing.
Intended impact
1) Nurturey's intended benefits for parents:
a) Efficiency:
Saves time and reduces errors in routine activities, and preserves all that is relevant and memorable.
b) Effectiveness:
Helps parents understand and respond to the unique needs of a child.
2) Nurturey's FOUR planks:
a) ORGANISE - The one platform:
We aim to bring management of all information, documents, events, activities regarding all kids in a family to one place, making them accessible on fingertips to all the parents/ guardians, through multiple devices.
b) NURTURE - Right information at the right time:
There is an overload of information/resources available on parenting. Knowing what is relevant in order to act proactively becomes challenging for parents who are routinely busy and may lack research skills. Nurturey's algorithms would connect parents only to what is relevant and at the right time, helping them focus ONLY on the specific needs of their kids.
c) TeamUp- Effortless sharing/ communication with other parents:
Is your inbox overflowing with emails from parents of your kid's classmates - coffee mornings, lost jumpers, or birthday invitations kept in book bags? Nurturey's parent groups would make all the communication/sharing effective and efficient. The platform has been designed to be used also by parent networks, clubs/ institutes etc.
d) CHERISH - Accessible and meaningful memories:
Do you have tons of folders with thousands of pictures of your kids, wondering which one to open and cherish? Nurturey's innovative tools would build complete and meaningful stories for parents, beyond just pictures and videos, using a variety of information captured on the platform.
Substantial accomplishments to date
1) Recently selected as one of the top 8 (out of 76) businesses for the final round of Oxford Seed Fund competition (currently in the final due diligence stage).
2) Nurturey Beta launch
- First desktop version (Beta) is launched, with the core structure and many of the primary features.
- For access to demo account, please login to www.nurturey.com using following: UN: tushar@innopod.co.uk; Password: asdfasdf
Upcoming phases:
3) Market/ User readiness (with Seed Funding)
- Go mobile: develop smartphone and tablet apps for seamless experience across devices for parents (see 'Use of Proceeds').
- Target: Market launch within 3 months of seed funding.
4) Aggressive customer base expansion
- Target: 2 million by end of the 4th year
5) Revenue generation
- Implement revenue models, after a sufficient user base.
- Target: 1 year from launch.
Monetisation strategy
After achieving significant user base, implement one or a mix of following revenue models:
We aim to make a total revenue of £10/YEAR per customer (family), through a combination of all these revenue models.
A) Subscription/Freemium based:
- Standard (free) and premium subscription.
- While all features will be free, volumes of services may be limited. e.g for more than 100 items in 'timeline', premium subscription required.
- Assume 10% of the enthusiastic parents signing to premium subscription.
B) Transaction cut:
- Based on the rich information, algorithms will connect parents to the right resources (free/paid or online/offline).
- In the case a paid transaction takes place, we believe we could charge a commission of 20-30%.
- e.g., On Nurturey' recommendation, if a consultation with a psychologist (in the panel) takes place or an e-learning product is purchased, we would charge a commission.
- Driven by data, we would aim to implement several such transaction opportunities related to variety of children and parental needs.
C) Targeted ads:
- Targeted paid listings.
Use of proceeds
To complete our next phase ('Market/ User readiness').
Objective: "Bring perfection for effective use and seamless user experience across multiple devices"
1) £10K: Smartphones and tablet apps.
e.g photo upload, calendar entries, document scan functions to users fingertips at all times.
2) £2K: General user experience improvements.
e.g. automated vaccination schedule upload, holiday/ term-time calendar, drag/drop features etc.
3) £4K: Fine tune and perfect features such as Groups.
4) £3K: Development of 'school front end' to publish calendars directly to parents. This will be a key feature for our 4th phase, when we will begin to market through schools.
5) £3-4K: Server costs for the next 8-10 months
6) £5K: Salary for the next 6- 8 months for a product manager.
7) £7K: Miscelleneous costs
Market
Target market
1) Customer segment:
Nurturey's customers are PARENTS with kids in the age range of 0-10, at least in its early phase.
2) Geographical segment:
a) Active marketing in the UK and India initially. However, the product can be used from anywhere in the world.
b) Active marketing in the US, after first 3 months of launch.
c) In medium/long run, target global market, especially countries with English speaking population, such as Australia.
3) Segment size (our estimates):
a) UK: approx. 4-5 million families in our target range.
b) India (top-25 Indian cities): There may be as many as 10-12 million middle class families in target range.
c) US: Approx 25 million in target range.
Just the first three markets itself represent a segment size of over 40 million families in the target range.
Characteristics of target market
1) We estimate our market size is approx, £20 billion ($32 billion) for UK, US and India only, and growing rapidly.
- This is NOT a generic market size. It's an estimate of actual total revenue opportunities relevant to our monitisation strategy.
2) Market definition:
a) While Nurturey is meant for regular use of parents, primary monetisation strategy is based on Nurturey acting as agent to enable sales of 3rd party products/services to parents 'on-line'.
b) Hence, market is based on commission earning opportunities, on ONLY non-school spend online by parents.
Calculations are based on following assumptions:
- 30% spend is done online, of all non-school spend by parents.
- 30% average commission opportunity, on each transaction, as sales agents.
Marketing strategy
We have three key channels:
1) Schools/ Parent networks/ Clubs:
(Please ask for Nurturey's free proposition for schools/clubs)
- Market directly to primary/ preparatory schools to whom we will provide our FREE solutions.
- For every school on board, Nurturey hopes to sign up approx 300 families (assuming 60% conversion from approx 500 families per school).
- We estimate our approx. customer acquisition cost would be: approx £0.40 to £1.50 per family (including drop-out* rate of 50%)
2) Direct to parents with 0-5 years age:
- Ads on parenting websites such as, Mumsnet, Babycenter etc, which have many unique users per month each in target age group.
- We assume 0.5% sign up rate per ad served. We estimate customer acquisition cost would be approx £0.75 to £3 per family (including drop-out* rate of 50%)
3) Referrals:
- A parent refers Nurturey to another parent.
- A parent creates a group inviting other parents to join.
- Zero customer acquisition cost.
*Drop out rate: - Users who sign-up but do not really use the platform are considered drop-outs.
Competition strategy
1) Direct competitors:
- We are not aware of any direct competitors.
2) Indirect/Partial competitors:
a) Piecemeal solution providers or tools
- Solutions such as kids photo up-load websites, on-line/printed family calendars etc.
- However, we believe parents find it hard to manage several solutions, and much rather prefer a single platform to manage their lives around kids.
b) School softwares
- Some school softwares have extension for parents. However these solutions are aimed at school-parent communication.
- However, Nurturey provides solution for Parent (and communication among parents), with limited extension to schools.
- In fact, we plan to partner with some school software solution providers, and Nurturey expects to emerge as the 'parent front-end' for school solutions.
3) Complementaries (content providers):
- Companies such as Babycenter, Mumsnet or e-learning platforms would be our complementaries.
- Nurturey is not a content provider and aims to often guide users to other content platforms as appropriate.
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