Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Explain your idea in details:
At the heart of our business, Elucidate, is a mission to provide clarity to high school students with respect to their vocational paths post-graduation. Inspired by the career uncertainties that weigh down on peers in our own Year 12 community - where 43% of the cohort have no idea what they want to do after high school - our online platform assists students in forming an informed, holistic, and realistic vocational goal that can add purpose and motivation to their studies. Through this solution, we aim to address 2 of Unicefs Sustainable goals, bolstering the Quality of Education in a highly academic-centric schooling system that neglects to inform students of their prospects after high school whilst improving the mental Health and Wellbeing of students. Our platform, available both as an app and an interactive website, interfaces between high school students and advisors - industry veterans who have worked personally in various sectors. We facilitate a safe online environment where students can privately discuss the insider details, pros and cons, and degree requirements of prospective career pathways with each respective advisor. This framework not only bridges the gap between high school and the workplace, but also allows students to develop deeper focus and fervour with their academics driven by the certainty of their vocational pursuits, relieving the qualms that mentally debilitate senior students due to a fear of the uncertain future.
Expected impact of your idea on sustainable development
Through our platform, high school students gain personal access to a myriad of industry veterans in popular vocational fields such as medicine, engineering, and finance. Upon the purchase of a $40 monthly subscription, students create their own profiles that detail their vocational aspirations and current circumstance. They then select specific advisors (to a maximum of 10) relevant to their interests from a pool of hundreds of registered professionals, and engage with them in an online conversation regarding their vocational interests or industry-specific information such as interview techniques or admissions testing.
Plans for implementation and sustainability
The main on-cost incurred is the hiring of developers to create a secure and user-friendly mobile application and website, estimated at $20,000. As our product significantly overlaps with the objectives of Career Advisors within schools, and aid their role in providing vocational clarity to students, we will seek funding from the Career Advisor Association (CAA) of NSW & ACT to fulfil our initial financing needs for an equity stake of 20 percent within our business. As such, we also gain the CAAs assistance in promoting our product to the students, as they have a direct incentive in the success of our operations with an equity stake. Bulk subscription discounts may also be offered to careers advisors in schools, creating a win-win situation that simultaneously bolsters our subscription volumes whilst addressing the needs of vocational assistance in high-schools. The rewards to industry veterans that chat with students constitute the main ongoing cost for our platform. These advisors are paid on a pro-rata basis of $2 per conversation that students initiate with them. Coupled with a stringent ratings system that allows students to give public, anonymous feedback to the advisor they have engaged with, this creates a direct financial incentive for industry veterans to not only register to the platform to earn extra income by disseminating their expertise, but also ensures the quality of the advice. No further finance is required to pay for these rewards, as they are only incurred when an end-user purchases a paid subscription. A minimum of $20 EBITDA is registered for each sale, as students are allowed access to a maximum of 10 advisors in their $40 subscription, with each advisor paid $2 per conversation. Hence, the business becomes more than self-sustainable on the front of ongoing platform maintenance costs.
This project started with Me (Paj Sae-lim), John Xie and Roger Chen. As an attempt to create a change to the current zeitgeist of the subpar Australia-wide academic future clarity. Nearing the end of my final school year I experienced uncertainty with regards to what jobs or vocations to undertake in the future, and I felt that this uncertainty has impacted my motivation in academic success as well as my mental health. Further research allowed me to realise the problem not only plagued me, but over 43% of NSW high school students, where we, as final year students had little to no idea of what we were going to do in university or rather what those degrees would lead us in the future. To alleviate such uncertainties, I created Elucidate addressing 2 of Unicef's Sustainable goals; Quality of education and Mental Health and Wellbeing. Where we as a company, assist students in making informed, holistic, and realistic vocational goals that add purpose and drive to their studies whilst promoting mental health.