A conceptual edu4youth business model: empowering underserved youths through TVET and digital platform

This paper aims to develop a conceptual business model (BM) for Edu4Youth, complete with its digital platform that align with the Sustainable Development Goals (SDG) by promoting equitable education (SDG 4), fostering economic growth (SDG 8), and encouraging partnerships for collaboration (SDG 17). A digital project is designed to address key challenges, extreme pains and create essential gains for various customer segments (CS) - underserved youths, professional tutors, and organisations including educational institutions and community organizations. Many youths face extreme pains such as high course fees, limited access to personalized guidance and insufficient opportunities for real-world application. Educational institutions and community organisations have challenges in reaching underserved youths, measuring impacts and managing resources. Professional tutors struggle with limited tools for interactive teaching, balancing administrative responsibilities and providing personalized feedback. The methodology utilize design thinking (DT) by conducting a literature review (LR) and benchmarking, supplemented by interviews and surveys to understand and define the key challenges, pains, gains, and important jobs-to-do of various customer segments (CS). An initial Business Model (BM) is ideated and developed using business modelling tools such as Business Model Canvas (BMC) and Value Proposition Canvas (VPC). The initial Business Model (BM) together with the digital platform/app prototype is tested and validated by the various customer segments (CS) to establish the validated Edu4Youth Business Model (BM). A Strategy Canvas (SC) is created to compare the validated Business Model (BM) with other market players to identify Edu4Youth’s “purple cow” features. This paper offers validated conceptual Edu4Youth Business Model (BM) with digital platform/ app as pain reliever and gain creator. A comprehensive Project Management Plan (PMP) will be developed in the future for Edu4Youth’s development and implementation; and improve its impact on marginalised areas while fostering sustainable economic growth