Sramana Mitra: Summarize, as a last point, how you position vis-a-vis edX. When you go out to the world, how do you position MIT Professional Education versus edX?
Clara Piloto: I’m going to focus on the MOOCs that edX is doing. They’re doing a lot of really cool things. They’re also expanding into professional education. I’m going to make that comparison.>>>
Sramana Mitra: What is the limited partner scenario for AgTech? This $75 million and the rounds before, is there a set of limited partners that are particularly interested in AgTech?
Francisco Jardim: We have two anchors that are very large agriculture multinationals who have been active in the corporate venture sectors. These two guys are our LPs.>>>
According to an Ibisworld report, the online recruitment sites industry is estimated to have grown at 15% CAGR from 2015 to $10 billion in 2020. The growth in the industry is attributed to the improved job market conditions in the last five years. Santa Monica-based ZipRecruiter is an AI unicorn in the market.>>>
Clara Piloto: Corporate education is also growing quite a bit. We’re focusing on high-end quality experience for our corporate clients. That includes very customized programs in which we can provide different a la carte menu of experiences they’d like to bring in-house.
It might be something that’s off-the-shelf content that’s slightly self-paced. We can share that internally to hundreds and thousands of people. What we’re noticing is, people have problems they want to solve. They’re inviting us to the table to help them solve some of their problems.>>>
Sramana Mitra: Talk to me about stage. You started off by saying that you like early stage. Define early stage for me. Are we talking seed? Are we talking pre-seed or concept stage?
Francisco Jardim: Now that the AgTech ecosystem in the region is already on its way to maturity, we are given the luxury of becoming much more stage-specific. We do late seed and Series A.>>>
According to a recent report, the global cyber security market is estimated to grow at 15% CAGR to $267.73 billion by 2024 from $118.78 billion industry in 2018. The growth in the industry is attributed to the adoption of IoT, BYOD, AI, and machine learning technologies. Despite the robust growth potential, Forescout Technologies (Nasdaq: FSCT) is facing some challenges in meeting market expectations.>>>
Sramana Mitra: Who’s paying? Is it all companies paying?
Clara Piloto: It’s a combination. A lot of individuals are self-funding but there are a lot of companies that have tuition assistance. I believe the larger number is self-funding.
Sramana Mitra: If you segment the different areas where you offer professional education in, what is the next level detail in each of them? I can imagine real estate is different in different countries. What are the region-specific nuances in the different segments that you describe?>>>
Sramana Mitra: Can you talk about what those bottlenecks are that can be tackled with IT? When you say AgTech, I take it that you are talking about information technology as it applies to agriculture?
Francisco Jardim: When we say AgTech, we mean the entire agribusiness value chain, which represents approximately 22% to 24% of our GDP. This includes all technologies or improved methodologies to increase yields from planting and soil fertility, all the way to how we deliver food products to end consumers.>>>