Today, many of our products and services do not reach the more than 4 billion low-income and emerging middle-class consumers across the globe — a rapidly growing market segment estimated to be worth more than US$5 trillion.
We launched the Tomorrow's Markets Incubator in 2016 to innovate new products and services that help meet the need for access to high-quality education and learning in low-income and underserved communities.
The response far exceeded expectations. A total of 167 teams of Pearson employees submitted an original idea for a new product or service. Seventeen teams were picked to receive funding and coaching and present their business ideas to senior leadership.
Their ideas represent a diverse, exciting portfolio of digital and blended learning solutions, including workforce training for prison inmates in the US, language learning for refugees in Germany, and math skills development for low-income students in South Africa.
We’re excited to see how the top ideas go forward in 2017.