It will be a bridge to employment, obviously. They will get access to the world’s largest library for learning, which grows every day, because it’s almost like crowdsourcing, and consistent content. We do it in a very qualitative way.
It will be an entrepreneurial school that stimulates people coming up with their own idea, creating their own intellectual property outside our activity. The best one we’d love to invest in.
There will be a school where we offer students to become experts in this area at no cost. We don’t charge for the school, but obviously we employ most of the students.
That’s it. Summary, what’s the best? If we were to do this together, find a way to do it, it would be a state of the art center. I would say, by far, the largest in the region.
Very smart guys, and they will help us with the Nasdaq. Our company’s going on Nasdaq for market capital, approximately, of $2.3 billion.
David is our new CEO. He used to run British Airways, and also used to run an online company that he took to half a billion.
Today we are 42 million. [laughs] It’s a big long way to 3.8. Instead, our new chairman used to be the president of General Electric, ran 40,000 people. I’ve known him for 18 years. I’ve been on advisory board.
I realize that our little company cannot do it alone, so I have to team up with governments, big corporations, but that’s the vision. Even if we do half, I’ll be very happy.
I also, two weeks ago, fired myself. [laughs] I used to be the chairman. I’m still the largest shareholder in the company, but because I’m so passionate about this Human 2.0 I say I want to dedicate my next 20 years. By the time, I’m 55, so 75, god willing, ...
India, government folks in vocational training. I just was there for a week. We are doing 10 centers there, likewise in China. I’m going there tonight. Ethiopia, we talked about. Belgium, Greece, and so on and so forth.
Singapore, we work with the government, but they gave the money to a university, and then they continued. Pretoria, government. Melbourne, Deakin University, but also government.
Laval, same thing with the government. China, we work with China Merchants group, which is government owned, fourth largest company in the Hong Kong Stock Exchange.
Locations, Manchester City. There we work with the local government, Sir Richard Leese, the mayor, and then with the universities.
Two, provide subject-matter experts. Let’s say we want to encapsulate knowledge around CNC machines. Then we need to talk with someone with someone that really understands that, that we then put together with us, then a co-investment in $6.6 million, which corresponds to 24 percent. That’s basically it.
76 percent of the investment. 24, the percent, is our local partner. What do we expect from the local partner? Three things. One is to help us recruit the students. Normally, not a problem.
How do we fund this? We come in with $20.9 million, with co-investment 19.18 AVR systems, the platform, development lab. We pay five years for our teachers that we bring and live here and the project experts.
He became $25 million market cap. Alibaba wants to buy him out. He said no. Top three company in sports in the world, and so on.
Here’s a crazy one. This guy came up with an idea to do a sports application, and then, two years later, he’s actually the CEO of EON Sports.
Then sometimes students don’t want to do a project. They are crazy. They want to have their own ideas. Instead of rejecting that, we embrace it. Say, "OK, come with your idea. If it’s a good idea, we’ll introduce it to customers." Then you say, "Recruit 10 students from the ...
People get a entry salary of $85,000. Even guys in South Africa.
We develop a curriculum that’s quite advanced. That’s been accredited in many different countries around the world. It’s supposedly the best -- we’ve been receiving awards -- curriculum for begin not theoretical, but practical, actually applying this.
Space-wise, as I said, 1,500 square meters. In terms of education we tried to be agnostic. There, also, four months -- it used to be three months. Now it’s four months -- theory, eight months project base learning.
We tried to focus on the industries that are relevant for the country. Once we do that, then we take small pilots. This is not spraying and praying. We focus on some areas, because obviously our most limited resource is not money. It’s people. It takes time, so you want ...
I just completed an operation in Norway. We had the Prime Minister, all the top ministers, and then we had the CEOs of the top six industries. The CEO of biggest offshore company, the biggest shipping company, fishery, and so on.
We put the entrepreneurial school. We try to recruit 100 students. Normally not a problem. Then we put the platforms and five years’ maintenance, support, and upgrades. Then, once we’ve done that, it’s very simple. We inaugurate the center. We put the whole thing together.
We put a showroom with the 20 trucks of equipment. We bring teachers from Silicon Valley and VR experts, the best ones, for five years to live in the country, transfer all the secrets, all the information to the teachers in Taiwan and the students.
What do we need to make it happen? One, we need the physical space. We rent, normally, space. We pay for it. We don’t expect anything for free.
The model, in essence, is that we start with very few pilots with maybe 300 workers, and then we expand. We start with small education institution, and we have the KPIs, and we expand.
I’ll skip a few. This is, by the way, our office in China, pretty big office. 3,000 square meters, main office. Ethiopia, that’s the Minister of Education. We signed an agreement to rollout. Romania, Mexico, and so on.
National rollouts, education, also France. I took that as an example. Then Minister of Economy Macron, now President supporting this. The pilot went very, very successfully. Now we’re rolling out.
I’ll skip a few slides. This is interesting. Here we’re working in France with Union of Metallurgical Industries, and they train 130,000 people per year. We started with a small pilot, and now we’re doing big rollouts.
The idea is that there we need a contract with seven million students. They have a big population. They want to take the economy from $75 billion to $250 billion, and they have identified which barrier they want to address to make this leap. Very smart government, but the way.
On the student side we charge $12 US, but in Ethiopia, for the same platform, we charge 27 cents. It’s not necessarily because we are egalitarian, which we are.
Make money on that, we make money on the systems, and we make some money on the applications. Applications are owned locally, and so on. We have a hub, and then we do satellites in various cities, and then we get it out to the local environment.
What we do is a worker, we have this platform. It costs, in US, $41 per month to take advantage of the platform. That’s your knowledge -- the pill.
Let me tell you, and you tell me why not. I’m happy to.
I’m joking.
I think so.
Someone asked me, "But Taiwan is a little bit behind. Will it be possible to do it?" I said, "If I’ve done it in South Africa, Ethiopia, and some places like that, I think we can do it in Taiwan."
How does this work financially? When we said, for example, in Ethiopia we have a big...
With that we can focus on the key segments. Our key segments, number one is education. Energy, aerospace, medical, manufacturing, security. There’s another six that are secondary, but those are where the value is best.
How are the centers sustainable? Our philosophy is Human 2.0. Our delivery mechanism is the AVR platform. The vehicle to actually get it everywhere, boots on the ground, is the IDCs.
Last, but very important, is the sustainability aspect. All the centers are sustainable and a growth engine. 30 sites so far. Another 70 are on the way.
The best ones that want to work for us, we’d love to hire them. The ones that won’t work for us, they can work with the industry.
What we do is four months theory. We train them on all aspects of virtual reality, and then eight months of project base learning. During that learning phase, they actually do real projects.
To do this, where do we recruit the students? We start with a school, and typically the school has 100 students. In China, we started with 200.
The factory, I have a 30-second video.
That’s where, in this case, French students that we have trained become part-employed, in this environment, and develop French content for French people. Same thing in China. Chinese people, Chinese people, and so on. That’s the second element.
That’s one element. The second element of this is the factory. That’s where the intellectual property encapsulation is happening.
To do that we have a center. This happens to be in France. This one is about 15,000 square feet to 20,000 square feet. It has about 28 trucks of equipment, in terms of various ways to publish that industry and education publishes today, all seamlessly adapted, from room-sized to ...