GoPeer, a platform that connects K-12 students with college undergraduates for tutoring services, won the $50,000 grand prize at the Get Started RI 2020 business competition, a local version of Atlanta-based Cox Business's pitch events across the country.
The event, which was held virtually due to the coronavirus pandemic, featured six other Rhode Island startup finalists that pitched to a panel of judges.
With the $50,000 prize package, GoPeer will receive $25,000 in cash, as well as a number of other marketing, promotional, and educational resources to help the company continue building toward success.
GoPeer launched after Ethan Binder and his other co-founders saw friends and family members dropping out of school courses because of the pressure to achieve high grades. They realized the resources these students need, such as private tutoring, are not readily available to average students.
So, Binder and his team created a “digital classroom” to connect these younger students directly with high quality, vetted college students who provide tutoring services at one-third the national average cost of professional tutoring.
Students and tutors communicate in GoPeer’s secure, online classrooms using video conferencing and file and document sharing to collaborate on more than 150 subjects. Binder said the K-12 private tutoring market is worth an estimated $11 billion, and GoPeer’s traction has been buoyed by the pandemic.
“Pre COVID-19, one of our biggest challenges was working with families who were skeptical about what it means to learn online,” he said. “But now, the mindset has changed. Even when things go back to normal, that mindset is not going away. It creates transformational change, and it's a game changer for GoPeer.”
The company, which makes money through a subscription model, has generated $500,000 in sales in the last six months. Having recently raised $2 million in funding, Binder said he thinks GoPeer can do $5 million in sales over the next year.
In addition to the grand prize, another finalist, Visit, won the fan favorite award and the $5,000 that came with it. Fans voted for Visit through the app, Whova, prior to the competition. Visit is a subscription activity kit that guides relationship-building between caregivers and loved ones with dementia,
Get Started RI finalists included Pangea.app, a platform that connects college students with companies for freelance work, and Flux Marine, which develops zero-emissions electric outboard boat motors.
The other finalists were Asthenis, a Providence-based community pharmacy that offers a delivery service for patients and pharmacist-driven public health guidance, and KerlyGirl, a natural hair care venture offering organic and 100 percent plant-based products uniquely formulated for the hair needs of curly, coily and kinky textures.
