EdVantage offers new model for supporting startups

startup
startup

The new platform for education initiatives from the Aurec Group is a hybrid of an incubator and a VC fund.

The first thing Amalia Bryl wants you to know about EdVantage is that the platform to support education startups from Aurec is not an accelerator. Bryl was selected to manage the platform alongside Shahar Wilner and Yair Brosh, the CEO of Time To Know also part of the Aurec Group.

In a conversation with “Globes”, she explained her philosophy. “We looked at different accelerators, primarily in the education space, and reached the conclusion that this time we want to try something else. We realize that, in order to draw entrepreneurs into the field, you need investment not too much so as to overspend, but still a significant figure.

“The problem with the current structure of accelerators is that not every startup needs the same solution; our platform can offer them ‘tailer-made’ support. We are not an accelerator. We are a hybrid, between a micro-fund and an incubator. We see ourselves as setting off on a longer journey, meaning we can support initiatives in a variety of stages, whether it is a startup taking its first stride or one that wants to begin market penetration. We are flexible, and it is important for us to ‘hands on’.”

The project is being supported by a group of former Amdocs executives, including Shmuel Meitar and Morris Kahn. “Education is in their soul,” said Bryl. In 2005, they founded Time To Know, which will operate the new initiative.

“Time To Know was a head of its time,” said Bryl. “They had already created a platform for fourth-to-sixth grade, and a management system for courses in mathematics, sciences, and English, which allowed teachers to track their students in real time. They are essentially a start up. Now, their investors set up EdVantage.”

Bryl, who co-manages with Shahar Wilner, offers her business expertise to the startups while Wilner provides the tech support. “I previously managed a VC fund at Poalim Capital Markets and then I conducted a study of fathers in the Israeli high-tech sector. Afterwards, I ran a startup that provided time management tools for kids. I didn’t manage to raise funds for it, but because of it I learned a lot about the process.”

EdVantage’s platform was launched in March of this year. “We met with dozens of entrepreneurs,” said Bryl. “And we currently have two candidates. Because of the nature of the support we will provide, we will not be taking on twenty a year; it’ll be smaller. We really see ourselves as companions for each one of them.”

How much will you invest?

“The investment amount will change according to each one’s needs. Today there are accelerators that do not invest and those that invest uniformly. We will provide each one what he needs.”

Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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