Young Wealth Creators Organisation (YWCO) was created in 2020 by Parichita Bansal and her husband Ruchir Bansal to teach kids about money management.
Parichita says, “Our philosophy is to provide education, experience, and exposure to empower the next generation to achieve their dreams consciously, consistently, and constantly; and to sustain it, all we need to build is an enriching environment, and that environment exists, it’s called a school.”
The serial entrepreneur and retail investor Bansal created the five-month program.
The YWCO is a unique educational program created for schoolchildren that teaches them the value of investments and introduces them to the specifics of budgeting, saving, investing, and risk management of assets for a rainy day. It is also an educational approach to learn about financial issues and prepare a reliable source of income for old age, medical expenses, and other sorts of emergencies, the author continues.
The overall voyage
Prior to the COVID-19 epidemic, starting in 2020, Parichita educated disadvantaged kids. Later, she offered interested parents who wanted to teach their kids about financial literacy five-month virtual classes. She created the educational material for students in 2021 in compliance with NEP (National Education Policy) 2020.
The firm conducted a beta test for the 20-week curriculum in 2022, teaching roughly 115 students in focus groups of 5-10-20-30 to understand user engagement and content retention while also building role-playing games and instructor skills.
In the process, she claims, “we made about 10 lac rupees in revenue and only asked the parents who could pay.”
How does it function?
After the school registers with YWCO, it joins the startup as an affiliate member and receives from YWCO a link for student registration. The school also distributes the URL to the registered children. Students are given access codes to the site after completing a form. A comparable platform is accessible to teachers and instructors as well.
To enable effective engagement from both instructors and students, a feedback form is provided to both students and teachers at the conclusion of each lesson.
A wealth-creation attitude is developed in the module through activities like Career Day and Meet the CEO, which emphasize using all available avenues, including the stock market, entrepreneurship, and real estate. Students can gain a foundational grasp of credit and debit cards, insurance, tax preparation, and loans. Picture of the student workshop
Career Day is essentially a Facebook Live program where YWCO invites individuals at the pinnacle of their professions or jobs to discuss their path.
Beginning in July, two students from the YWCO community will be asked to participate in Meet the CEO lectures, where they will get the opportunity to interview CEOs and tour their offices.
Business plan and future plans
The school must pay the B2B finance edtech company Rs 499 + GST yearly per student to lease content that is posted on the business’s website. Members get access to both the community and the material.
The firm made Rs 1.2 crore in revenue in FY22, and it hopes to reach Rs 2.5 crore in FY23.
30 schools, including Xavier’s, DAV, Sarvhitkari, St. Kabir’s, SIL International, and Sacred Heart Convent School, are currently affiliated with YWCO. The business wants to produce localized content in the future so that it may reach rural India and government bodies.
Conclusion:-
YWCO, founded in 2020 by Parichita Bansal and Ruchir Bansal, is an educational program designed to teach children about money management. The program focuses on budgeting, saving, investing, and risk management of assets, as well as financial issues and emergency income. The program began with disadvantaged children and later offered virtual classes to parents. In 2021, YWCO conducted a beta test, teaching 115 students in focus groups. The program generated about 10 lac rupees in revenue, with only parents paying for the program. Schools can join as affiliate members and receive access codes for student registration and teacher and instructor access. Activities like Career Day and Meet the CEO help students develop a wealth-creation attitude through activities like career day and Meet the CEO lectures. The company made Rs 1.2 crore in revenue in FY22 and aims to reach Rs 2.5 crore in FY23. Currently, 30 schools are affiliated with YWCO, and the company plans to produce localized content to reach rural India and government bodies.
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