"Caution, Creative Minds at Work" Ivan Tchatchouwo is an athlete who saw a burning need to help students stay in school by recieving some much needed help that had been ignored.
https://make-your-pitch.com The Co-Sponsor for this Episode is B.E.T. A business platform that gives you all the information and tools you need to advance your business as well as the understanding of how to run your business most effectively and profitably. To learn more check out the: Video: https://bit.ly/368rSKk Website: www.yvrbet.com The Co-Sponsor for this episode is CRM Engine. A Customer Relation Management system that provides a 4 Module Solution, Standard Customization by the CRM Engine Team, Unlimited Users, Unlimited Data, Unlimited Records, Cloud Hosting, Security Updates, and Daily Backups as well as On-Going support (Usually Same Day) Go Here to Learn More: Website: CRMEngine.co.uk/makeyourpitch Our Guest-Ivan Tchatchouwo I went to Holland high school basketball program. I was able to take this division two scholarship, the first couple years was a bit you know I was behind a lot of guys but I was also injured half of the time. I got hurt early in the preseason and I never recovered I had a tough time. I stopped really going to classes started substance abuse. I was lost. I realized I didn't know what I could do. I graduated and started a youth Wellness camp helping young kids with that struggle with identity crisis. We ended up started to do $50 to $75,000 in revenue a year at the age of 25 so then we decided to try to go into Columbia with a low GPA. I took two courses with professor Kaplan and professor Don Weiss. The first course professor Kaplan he taught me that I had to think bigger in my mission and the event space I wasn't really making money you know I was kind and even or losing money but I was already doing things right and I would be in the youngest in the class. My buddy Eric who's my Co founding my partner Eric he was a baseball player captain at Concordia also. We started talking and we see the numbers - 64% of students dropping out of college because 9% of students in college only 9% seek help from the schools on Wellness resources and 33% don't believe in what the school offering so we looked at those numbers and like many is causing some schools 9 digits some schools 8 digits and I'm like OK these are big numbers why aren't they kind of going into those well in these situations why aren't schools invested in what's the bridge? We look at the big market 20 million college students right soon after just about 500 to 550K give it state student athletes in college back on college sports, so we decided to create a Tele Wellness startup around putting Wellness coaching and student athletes. We did that early on and tested the model out in an MVP stage starting once a December with schools such as Stony Brook, Memphis. We found we do want to create emotional intelligence before we get too lost. Younger generations don't understand why they need these resources. We actually partner with a lot of existing resources which makes it really excited for us. So we signed long term deals with one university that we're soon going to announce and we're also talking to plethora of HBCs. Our price point is at $50 per seat per year and our goal is after five years attaining 5,000,000 students and we are currently raising $1.5 million in the seed round to really adopt product stickiness and get the building community around this younger generation. I sit on more the financials in the product development road map so there's a lot of different space Hiring is 1 marketing and branding is a small bunch technology outside the currently outsourcing out technology and that transition is going to happen but we're still going to slowly. So currently we will raise it on a convertible note, and we have a 5,000,000-valuation cap with 8% interest rate back on the loan in 20% discount into the series a. Keywords Series A Convertible Not Interest rate Loan Valuation Cap HBCs Historic Black Colleges Telewellness Wellness coaching Seed round Concordia Wellness camp