YWCO: Pioneering Financial Literacy for School Children - A Startup Transforming Young Minds in Wealth Management

Parichita Bansal, alongside her husband Ruchir Bansal, established the Young Wealth Creators Organisation (YWCO) in 2020, with a mission to educate children about money management. Parichita, a serial entrepreneur and retail investor, designed a unique educational program for school kids, aimed at instilling in them the value of investments, along with fundamental concepts of budgeting, savings, investments, and risk management. This program not only imparts valuable knowledge about financial matters but also equips children to plan for a secure future, including old age, healthcare, and other unforeseen circumstances.

The Journey So Far

The journey began in 2020 when Parichita started teaching financial literacy to underprivileged children. Subsequently, in 2021, the startup transitioned to conducting five-month virtual workshops for parents who were keen to educate their children about financial literacy. In line with the National Education Policy 2020 (NEP), the startup developed tailored content for school children in 2022.

In the same year, YWCO initiated a beta test for its 20-week module, teaching around 115 students in focus groups of varying sizes. The objective was to assess user engagement, content effectiveness, and the overall learning experience. Impressively, during this period, the startup generated revenue of approximately INR 10 lakhs, only from parents who were financially capable.

How It Works

When a school partners with YWCO, it becomes an affiliate member of the startup. YWCO provides the school with a registration link for students, which the school then shares with its enrolled students. Upon completing the registration form, students receive access codes to log in to the YWCO portal. Teachers and instructors also have access to a similar portal. Both students and teachers provide feedback after each class, ensuring active participation and continuous improvement.

The curriculum includes innovative features like "Career Day" and "Meet the CEO," designed to foster a wealth creation mindset through various avenues, including the stock market, entrepreneurship, and real estate. Students gain a fundamental understanding of topics such as loans, insurance, tax planning, debit and credit cards.

"Career Day" involves Facebook Live sessions where accomplished professionals share their career journeys. "Meet the CEO" sessions, commencing in July, feature two students from the YWCO community interviewing a CEO and visiting their workplace.

Business Model and Future Prospects

YWCO operates as a B2B finance edtech startup, charging schools INR 499 plus GST annually per student for content leasing, which is hosted on the startup's website. Members gain access to the content and the YWCO community.

In terms of revenue, YWCO achieved INR 1.2 crores in FY22 and aims to reach INR 2.5 crores in FY23. Currently, YWCO has partnered with 30 schools, including renowned institutions like Xavier’s, DAV, Sarvhitkari, St. Kabir’s, SIL International, and Sacred Heart Convent School.

In the future, the startup envisions creating regional content to extend its reach to rural India and government boards. YWCO joins the ranks of startups like muvin, IAMIN World, and Fyp, all dedicated to enhancing financial literacy among children.