We were fortunate to have Ben Nelson and his team present at Graded this month and we got a first hand look at The Minerva Project. It was also a pleasure to be able to meet Ben at Transformar 2014 the day before.
The theory explains the phenomenon by which an innovation transforms an existing market or sector by introducing simplicity, convenience, accessibility, and affordability where complication and high cost are the status quo. Initially, a disruptive innovation is formed in a niche market that may appear unattractive or inconsequential to industry incumbents, but eventually the new product or idea completely redefines the industry.
While reading the NYT Innovation Report 2014 I came across the following.
Hallmarks of Disruptive Innovation
- Introduced by an “outsider”
- Less expensive than existing products
- Targeting underserved or new markets
- Initially inferior to existing products
- Advanced by enabling technology
This seems to be a textbook case study for innovators to follow. Here’s what their press release states.
Minerva provides a reinvented university experience for the brightest, most motivated students in the world. Combining a redefined student body, a reinvented curriculum, rigorous academic standards, cutting-edge technology, and an immersive global experience, Minerva is committed to providing an exceptional and accessible liberal arts and sciences education for future leaders and innovators across all disciplines.
Nelson is definitely an outsider to the higher education scene. He talks about the initial ideas for Minerva came while he was an undergraduate at the Wharton School at the University of Pennsylvania. It was then that he realized that the learning experiences could be dramatically improved. After leaving Penn he went on to several business ventures but most notably Snapfish. Hardly the path that university founders typically take.
Tuition for Minerva is USD$10,000/year. The total estimated costs for housing, student services, food, books supplies and health insurance is $28,850. This is far below the $50,000+ that it costs to attend the Ivy League universities that Minerva is trying to compete with. Nelson is adamant that Minerva is going after students from throughout the world who are Ivy league talent. Minerva will not have athletics programs, student services facilities, teacher tenure and many of the other amenities that universities provide. Instead they are strategically locating their housing in exciting cities around the world.
Minerva is targeting students from around the world and the low tuition and their quest to provide students with financial aid will attract students from around the world. Nelson reported that 80% of the inaugural class is from outside of the United States.
We believe drive, talent and hard work should be the only factors that determine access to an extraordinary education. Minerva is committed to ensuring that all accepted students are able to attend.
While Minerva has put together an impressive lineup of professors and they are recruiting the best at the brightest, it’s hard to imagine that the initial product will rival the Ivy League schools. The curriculum is also new which means that there will certainly be wrinkles to be ironed out. The initial cohort will be small which means that the thought partner pool will be small. I’m guessing that the university will attract risk-takers which will make for an interesting mix of students.
With students and professors at various places in the world Minerva has developed the Active Learning Forum to facilitate learning in the virtual classroom.
The Active Learning Forum is designed specifically for improved educational outcomes. Its features include:
- Rapid Break-Out Groups
- Individualized Instruction
- Collaborative Documents
- Dynamic Polling
- Real-Time Simulation
- Enhanced Debates
You can check out the video which shows what the experience is like.
I’m rooting for Minerva to succeed in the long run and to cultivate innovative leaders for our future.