1 min read

Alpha release of AR simulation

By Leiv Kåre Johannessen on Jun 15, 2021 11:36:07 AM

TERP has released an alpha version of AR (Augmented Reality) simulation. The technology allows students to conduct simulation cases at home on their living room tables using their smartphones. Our first cases are on ship handling. We believe it will be a game-changer making abooks even more differentiated from the competition.

AR simulation is not a part of the post-chasm MVP TERP releases in August but a taste of new technologies the company will include in Abooks 2.0, which is the name we use for the new generation of abooks. Still, we aim to have a beta version ready by the start of the new school year.

AR ship handling UX large
Topics: Blended learning TERP Augmented reality AR technology Abooks learning resources Ship simulation
1 min read

Extended MVP

By Leiv Kåre Johannessen on May 12, 2021 1:53:50 PM

We have extended the scope of the post-chasm MVP by adding two new features. Maritime education in the Philippines is our current primary market segment. The start of the school year is now moved to August, so we are moving the deadline for the MVP accordingly. Besides making a better product, this move eases the pressure on our tech team, which had reduced capacity in April due to Covid-19.

Both our frontend developers tested positive for Covid-19 last month. One of them has recovered, but the other one is still in the hospital. Our backend team is on track, but the frontend development delay prevents us from delivering post-chasm MVP in June, as planned. We are currently onboarding two new developers giving us a frontend team of four, so the issue is temporary.

The original deadline in our primary market in the Philippines was due in June, at the start of the school year. However, the pandemic changed the school year. Now the schools start in August, giving us an additional two months to improve our product. We want to extend the post-chasm MVP due to the response in the market. Instead of delivering the original MVP in July, we want to provide an even better product in August. We are adding two features:

  1. Exams
  2. Validation of assessments

We already added an exam feature in our backend six months ago and have tested it in the market. Inter Global College Foundation in the Philippines has run more than 2000 exams in one day. This is a feature that enables them to do their whole operation remotely. We are now adding frontend features letting our customers set up exams without our involvement.

In addition, we are including Item Analysis and Item Response Analysis. These analyses help our customers to validate the quality of each question in their assessments and exams. E.g., they will have data on how a question discriminates between good and weak students. Besides providing our customers with a tool to improve their assessments, it helps them provide necessary documentation when audited.
Topics: Blended learning TERP distance learning Abooks remote teaching remoteexams universityexams edtech extended MVP post chasm MVP
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Crowdfunding closed within seconds

By Leiv Kåre Johannessen on Apr 28, 2021 2:55:54 PM

TERP closed a 1.5 MNOK crowdfunding on the FundingPartner investor platform within seconds yesterday. Investors who attempted to register an investment 10 seconds after the launching at 2 pm were too late.

Topics: TERP crowdfunding FundingPartner edtech
2 min read

Strategic shift to market penetration

By Leiv Kåre Johannessen on Apr 21, 2021 4:32:56 PM

TERP started shifting our strategic focus from product development to market penetration in March this year. We are on track to launching the post-chasm MVP* in June, as planned. This release represents a transition to a market strategy where our primary focus is market penetration.

Topics: TERP investment technology scaling postchasmmvp marketpenetration
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TERP Targets Publishers

By Leiv Kåre Johannessen on Mar 27, 2021 11:32:39 AM

TERP launches an upgrade program targeting publishers. A limited number of publishers are getting the opportunity to upgrade their learning materials to abooks. Access to quality content has proven to be an essential factor for educators and training programs using the TERP Web Service.

Topics: TERP Upgrade Learning material publishers Abooks learning resources
2 min read

TERP reaches two new value inflection points

By Leiv Kåre Johannessen on Feb 14, 2021 7:00:00 AM

The term "value inflection points" is taken from Bruce Cleveland's book "Transversing the traction gap" and refers to milestones which change the valuation of tech companies. Over the last year, we have focused on two such milestones: To complete post chasm MVP (Minimum Viable Product) and build repeatable processes in sales and marketing to achieve Minimum Viable Repeatability (MVR)We expect both of them to be value inflection points as the first one gives us access to the majority market, and the latter sets up our organization for scaling.

Topics: investor information Value inflection points TERP
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Sales paradox

By Leiv Kåre Johannessen on Feb 1, 2021 7:00:00 AM

TERP experienced a sales paradox in 2020. We had a surge of new contracts combined with diminished short-term sales. The paradox was partly due to the corona pandemic, partially because we implemented a new business model, and partly because of capacity issues.

In the information to investors in May 2020, we informed about a lost semester. The lockdown in March effectively stopped all maritime education in the Philippines as they had no contingency plan. The next semester started in August/September, two-three months later than planned, which resulted in only having revenue from one semester in 2020.

Changing to a subscription business model in the second half of 2020 reduced the short-term sales even further. Earlier, we sold textbooks at the beginning of each semester. Now we have recurring revenue every month. A third factor was the capacity of the Customer Success Team. We had neither personnel nor systems to deal with the surge in new contracts. We temporarily stopped all active sales and focused on building our Customer Success Team and related functional units.

The presents of an efficient Customer Success Team has proven to be critical for scaling TERP. They ensure smooth implementation, so we get value out of the signed contracts. We have started to involve the Customer Success Team already in demos made for potential customers. They are also engaged in pilots, which now is much shorter than before. Before, we typically piloted a whole semester. Now we developed a pilot concept with a 30 days timeline.

As a result of these adjustments, we discover the implementation challenges before the contract is signed. The customer already knows their contact person in the Customer Success Team, and the implementation goes smoother. It is not perfect yet, but we are improving our working processes every week. The backlog of contracts not yet under implementation is almost empty. What we focus on now is to strengthen our playbook gradually through a series of systematic experiments. By identifying the best practice for the different parts of the operations and making it a part of our documented playbook, we can hire new personnel with a predictable outcome. Then we can gradually scale the Customer Success Team as our sales grow.

Topics: Blended learning TERP paradox customer success Sales scaling contracts
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2,2 millions NOK from Innovation Norway

By Leiv Kåre Johannessen on Aug 6, 2020 7:00:00 AM

TERP integrates augmented reality (AR) in abooks when delivering new technology to the ambulance service at Innlandet Hospital Trust (Sykehuset Innlandet) in Norway. The solution will support evidence-based practice. Innovation Norway contributes 2,2 million NOK in grants to the project.

The corona pandemic has created a great demand for distance learning solutions. TERP's primary market so far has been maritime education in Southeast Asia, where the company has provided adaptive textbooks. A key element in this education is practical exercises on a simulator, which conventional distance learning solutions can not replace. The solution TERP has come up with is to integrate augmented reality into the textbooks to run virtual simulations at home on the living room table.

When developing new technology, we are looking for innovative environments that are at the forefront of the use of new technology. We found this environment at Innlandet Hospital Trust. The health organization, which has 26 ambulance stations in Innlandet county, has a strong focus on evidence-based practice and has used virtual reality in employees' training for several years.

Topics: Blended learning TERP Augmented reality Innovation Norway AR
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Crossing the chasm

By Leiv Kåre Johannessen on May 11, 2020 7:00:00 AM

The corona situation has given us a once-in-a-lifetime opportunity to cross the chasm from the early adopters to the early majority. In other words, we have the chance to evolve from being an enticing solution for innovators to becoming a recognized standard in the mainstream market. Most technology companies never manage to cross the chasm.

It is a chasm because early adopters and the early majority are very different from each other. While early adopters are visionary innovators who test new technologies to make a potential leap and separating themselves from competitors, the early majority are pragmatic. They want proven solutions tested in the market. Preferably a solution provided by the market leader.

Crossing the chasm is not possible unless we define a small beachhead market we can dominate fast. Our beachhead market is maritime education in Southeast Asia (Philippines, Malaysia, Singapore, and Vietnam). There are 110 maritime schools and universities in this market. When we get 33 of these schools as customers, we will become the undisputed market leader with a 30 % market share. As we already have 18; we just need 15 more before we have crossed the chasm.

Besides defining a small market, the key to crossing the chasm is to develop a whole product. Our core product is the web-service enabling customers to create a-books. Along with our content, this forms our generic product. The early majority, however, expects more. They want a complete solution that is easy to implement and that fits seamlessly into their operations. We have to build that solution over the next 12 months.

Topics: Blended learning TERP technology Corona distance learning crossing the chasm diffusion