Market Overview

Fair Trade Language School is finalist at New York Next Idea Competition


The Fair Trade Language School, where people from developing countries teach their mother tongues via Skype, is invited as one of six finalists to the New York Next Idea Competition and will compete for a cash prize of 35.000 $ in New York City in March. About to graduate from the Start Up Chile incubator where it received seed funding of 40.000 $ the company has grown its service to several hundred language lessons per month in the past year.

New York City, New York (PRWEB) February 01, 2013

The Fair Trade language school is one of the six finalists competing for the New York Next Idea 35.000 $ cash prize.This competition will attract international start ups to the city of New York. From March 10th to March 16th founder Tobias Lorenz and US representative Katharina Scharnetzky will pitch to the jury.

Glovico has been founded in late 2010 and is a recent graduate of the Start Up Chile incubator. It allows people from developing countries to teach their mother tongues via Skype. Apart from big languages like Spanish or French it focuses on lesser-taught languages like Swahili, Tagalog or Wolof. Its teaching body consists of more than 40 teachers offering a set of over 35 languages. Teaching is run in personal classes and highly tailored to the needs of the students. Apart from offering affordable language instruction, the school has a particular social mission by providing new income opportunities in developing countries. In the words of founder Tobias Lorenz, "Give a man a laptop and you will entertain him for some time, teach a man to teach via Skype and you will feed him for a lifetime."

The company is currently seeking further seed funding to fully make its strategic move from tutoring to teaching. This strategic initiative has started in the past six month with the development of a proprietary textbook, particularly tailored to 1:1 online teaching as well as additional tools for language learning. The latest product of this initiative is the release of an Android app for practicing vocabulary that complements the web tool, where teachers enter a student's vocabulary live during the lesson. In that way, students can recapture their vocabulary after the lesson with three fun and effective exercises.

US representative Katharina Scharnetzky sees a bright future for the company: "The online language learning industry is booming and we are in a perfect situation to become one of the dominant players in the industry. The older players struggle to adapt to language instruction in the cloud while we are born global (and born in the cloud). Industry analysts predict an annual growth of 20 % of the industry and we currently experience a monthly growth of 25 %."

Glovico has been launched in late 2010 and currently overs language tutoring in more than 35 languages with more than 40 teachers. It is based in Hamburg, Germany, and New York, USA.

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