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F iftyThree has spent the last several years making products to increase creativity among users. Now the company has an eye on producing new tools not just for the consumer market, but that enterprise and education users could also leverage. To help with that, the company is also announcing it has raised $30 million in new financing from New Enterprise Associates.

FiftyThree started out with an iPad app called Paper that was built to give users new tools to unlock their creativity. It followed that up with Pencil, a stylus designed to interact with Paper and make it easier for creators to use the app. Most recently, the company released Mix, which provides a new way for them to collaborate.

Read the rest of the article on TechCrunch

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Large Market and Company Traction Drive Funding

March 10, 2105 – Charlotte, NC – Early stage investment group Charlotte Angel Fund announced today a $50,000 investment in Upswing, an online tutoring and data analytics company focused on decreasing student attrition. This investment was a part of the Company’s $500,000 convertible note offering. This is the Fund’s first investment since it formed in late December, 2013.

Upswing was an attractive investment due to the enormity of the student attrition problem which they are addressing, size and growth of the online tutoring market, the company’s market traction and strong management team. According to the U.S. Department of Education, community colleges across the nation experience a 75% attrition rate (41% for 4-year colleges) and over 60% of community college students are in remedial courses. In total attrition cost colleges and universities close to $16.5 billion in lost revenue in the 2010-2011 academic years, according to a 2013 Education Policy Institute study.

Upswing has made tremendous strides since its inception in 2013. In 2014 revenue took hold with a 250% increase in clients and 26,000 new student and tutor users. Upswing is now the second largest online tutoring provider in North Carolina, with 10% market share across the state and 55,000 students on its platform across seven community colleges. To date, 97% of students who use Upswing have rated their sessions a perfect five stars. New colleges have taken note of these results, with half of all of Upswing’s clients being colleges who switched from using another solution provider.

In addition to funding from Charlotte Angel Fund, Upswing has received grants from the prestigious NC IDEA Fund, Tech Wildcatters and United Way of Dallas, and closed its convertible note round.

Another factor in the Fund’s investment selection was Upswing’s strong management team. “Melvin Hines brings passion, focus and a strong background in business and law,” stated Greg Brown, the Fund’s Administrator. “He leads a strong team of co-founders who have demonstrated the type of commitment, talent and vision that we look for in entrepreneurs.”

Upswing currently has seven employees and expects further build out of the team as it doubles the number of students served by the end of 2015.

About Charlotte Angel FUND

Charlotte Angel Fund was formed to invest in high growth, early stage startups in the Charlotte region and across the Carolinas. It is a committed capital group, meaning that members of the Fund have pooled capital for investment in these opportunities. Monthly meetings are held where new opportunities are presented to the members for their review. The fund remains open to new members. For more information, contact Greg Brown at gbrown@CLTAngelFund.com or 980-307-0754.

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I  have been in education since 1970.  I have observed a great many reforms, changes in curricula, and reversals in methodologies. I have watched an attack on public education since “A Nation At Risk” was published in 1983 grow in leaps and bounds. That attack started small, almost inconspicuously. Now it has burgeoned with ferocity few saw coming and fewer know how to combat.

One of the major problems in the fight to save public education has to do with understanding strategies. For example, the Washington Post’s Valerie Strauss recently posted an article about a fabulous teacher who won a contest to appear on “Live With Kelly and Michael” who had to quit because she could no longer “drill and kill” to prepare for PARCC exams. The issue stressed by Strauss was PARCC.

Here is the really sad thing: By forcing her and thousands out of teaching, the reformers win. Why? Because they get to replace great teachers with drones who know no better.

I have been active on Facebook groups against Common Core, against standardized tests, for teachers, for parents, or against charter schools. Each site has its own myopic view of the issue. I have witnessed fights, harassment, and division between parents and teachers on many of these subjects. Few have a long view. Few see besides their own particular “hurtful” issue.

On the other hand, the “Education Deformers” do a great job at long-term planning. While we squabble among each other about which thrust they use against public education, they know they are on their way to their end game: destroying public education. So while they divide parents and teachers or elementary school people with secondary by having us branch off vs. Charter Schools, CCSS or PARCC, or OPTING OUT…. they march forward forcing good teachers and administrators out, increasing charter schools, so that even when we win our battles vs. these, they will have won the war, unless we see it and resolve not to let them do that to us.

They know and understand this idea from Sun Tzu’s Art of War. “All men can see these tactics whereby I conquer, but what no one can see is the strategy out of which victory is evolved.”

Do we understand the difference between strategy and tactic? Do we even see it? If we do not, we are doomed. We must unite to fight.

We all adore social media, but it has helped them divide and conquer us. There are so many bloggers, so many FB groups, so many organizations with their own websites, Twitter feeds and Facebook pages. I would like to see us create a unified front with bigger clout. In 2011 we actually had this when Save Our Schools marched on DC in July with 7500 folks in the Ellipse and several hundred at a conference at American University. We have all since splintered and the “deformers” rejoice.

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The Importance of Financial Literacy

by Danny Kofke

By Danny Kofke

A study from the National Endowment for Financial Education surveyed 683 adults, aged 18 to 39, and 391 parents of adults in that age range. Forty-two percent of the adults said they are currently receiving or have received financial help from their parents, and 59% of parents said they’ve given it.

I know that many people are hesitant to discuss money with their children — or their spouses/partners, for that matter. I have talked about this with one of my pastors and he told me that people will come to him for help with all sorts of issues ranging from drug abuse to infidelity in a marriage but money issues still remain a taboo topic for a lot of people. I know that many parents are embarrassed by their past money mistakes and do not want to discuss these with their children. I feel the complete opposite—the mistakes are the reasons that we should absolutely discuss this topic with our children. Most kids love it when their parents mess up. They can relate to them a little better. As a parent, if you have made a money mistake, I feel it is a golden opportunity to help your child learn. You see, we all make mistakes. The important thing is that we learn from these mistakes and do not allow them to happen again.

I first really realized the need for teaching financial literacy during the Occupy Wall Street Movement in the fall of 2011.  I heard some in this movement were blaming “evil” corporations and CEOs for bad job prospects. Some recent college graduates had upwards of $50,000 in student loan debt, some much more, in fields where the prospect of finding a well-paying job is not likely for many. This is why many young people were angry—they had all this debt and a college degree but could only find a job as a barista at a coffee shop that paid next to nothing.

To further illustrate this point, there was an editorial written in a major city’s newspaper from a local hometown young woman. She attended a four-year college-preparatory private girls’ Catholic high school and then went on to earn degrees from two universities.

Upon graduating from college, she owed over $180,000 in student loan debt! She continued by acknowledging that the debt is her responsibility but she was able to accumulate this huge debt through a combination of factors including a lack of awareness. She now works two jobs and has a strict budget. Despite working more than most of us, she still lives with her parents because she cannot afford to have a place of her own. She feels as if she followed society’s expectations, earned an education and is employed. Even though this is the case, she can barely afford to buy a meal out. She concludes that due to reckless neglect, student loan debt will be the financial ruin of her generation.

What a horrible situation to be in. After doing what she thought (and was probably told) was the correct course to follow, this young woman now realizes the errors of her decisions. It is too late for her to go back in time and follow a different path, but it is not too late for your child!

After reading about her and others who are in a similar situation, I started to think about how we teachers (I was an elementary school teacher for 14 years) educate our students in money management. Looking back on my career I realized something awful—we don’t! That’s right, we will educate our youth on the characters in Beowulf or have them memorize the periodic table — things that many of us will never use outside of a high school classroom — but do not teach them how to balance a checkbook or create a budget.  If you want your child to have a healthy relationship with money, and if you do not want to end up like the 59% of parents who support their children into adulthood, it is up to you to teach the financial skills necessary to ensure this happens.

Even though we adults are not teaching our youth about money, they are still learning about this topic from a horrible teacher—advertisers. According to the American Academy of Pediatrics, the average American child sees almost 40,000 commercials every year! Since 1983, the annual amount of television advertising directed at kids has skyrocketed from just $100 million to more than $15 billion according to Juliet Schor, author of “Born to Buy: The Commercialized Child and the New Consumer Culture.” Companies spend large sums of money promoting their products and brands to kids for one reason—it works. Many kids can hum and sing commercial jingles by the time they turn three. By the time children reach age seven, they can recognize many companies’ advertising logos and brand names.

Many of us develop our personal financial habits during our youth and these habits are similar to those of our parents. Adults who spend like there is no tomorrow and don’t save for the future usually have children who are masterful at spending but horrible at saving.

As parents, most of us want our kids to have it better than we do. In order for that to happen, you have to take an active role in teaching your child how to manage money, because as I have just shared with you—they are not learning this anywhere else. Surveys show that parents, not teachers, have the greatest influence on a child’s financial literacy. Even though this remains a tough time for some, it is also a golden opportunity to make a lasting impact for the future of our country. We cannot change the past; but we can learn from our mistakes and make sure our children do not make the same errors.

One of my favorite quotes is from Frederick Douglass.  He said, “It is easier to build strong children than to repair broken men.”  Let’s get to work building!

The opinions expressed here are solely those of Danny Kofke.

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