U.S. Markets open in 50 mins

Ed-Tech Startup MagniLEARN Recognized as Promising AI Startup in China's Innoweek Conference

BEIJING, Jan. 6, 2020 /PRNewswire/ -- MagniLEARN, an Ed-Tech company using artificial intelligence and Natural Language Processing, received second prize for innovation in Artificial Intelligence and was recognized as a promising AI Startup in the third annual China – Israel Innoweek Conference held in Beijing, China.

"Combining Natural Language Processing (NLP) with Artificial Intelligence (AI) allowed us to turn the computer into a language-aware personal tutor for each student," said MagniLEARN CEO Howard Cooper in accepting the award. "Our difference lies in presenting personalized exercises that the student answers with free-form responses. Just like a personal tutor teaching language to a child, we understand what is correct, what is nearly correct, and provide feedback and then reinforcement as the student learns proper English. We gave the computer enough language awareness to become an intelligent and efficient language tutor for each student," he concluded.

In a whirlwind tour of four Chinese cities conducted by the Israel Innovation Authority and led personally by Israel's Chief Scientist Dr. Ami Applebaum, MagniLEARN was among 20 Israeli startups that met with key partners and investors in Beijing, Changzhou and Shanghai.

MagniLEARN is currently planning pilots in conjunction with Mitrelli, Ltd. and Atid Colleges in Africa, and with half-a-dozen after-school tutorial corporations in South-East Asia.         

According to a recent report on China's education sector by UBS Securities, consolidation of China's K-12 after-school tutoring market is underway as revenue rises from 497 billion yuan ($75B) in 2016 to 1,082 billion yuan in 2021. A report by Deloitte stated that investment capital is pouring into the sector and fueling innovation as new companies enter the arena, receive capital and partner with large Education Corporations. 

MagniLEARN sees itself positioned to serve China's burgeoning need for English language training by selling into the consolidating tutorial network industry. Tutorial school corporations are competing for dominance by extending their reach, reducing costs and partnering with learning technology companies such as MagniLEARN that harness Artificial Intelligence and Natural Language Processing. 

Led by Professor Ari Rappoport, a world-renown leader in the fields of AI and NLP, MagniLEARN was founded by three PhD researchers from the Hebrew University of Jerusalem in the fields of Computer Science, Cognition, Learning and Science Education. 

About MagniLEARN: MagniLEARN uses advanced AI, Linguistic Algorithms and NLP technologies to completely personalize any student's second language acquisition experience. MagniLEARN's unique engine allows it to autonomously and dynamically generate student-appropriate lessons while constructively correcting any errors made. Using MagniLEARN speeds up language acquisition by at least a factor of 3 when compared to existing methods. The lead investor in MagniLEARN is OurCrowd/Labs02 of Jerusalem.

About OurCrowd Labs/02: OurCrowd Labs/02 is Jerusalem's seed-stage incubator, centered at the heart of the city's innovation scene. The incubator's core mission is to advance cutting-edge technology that will shape the future in innovative areas including AI, deep learning, autonomous transportation and smart cities. Labs/02 invests in outstanding and highly motivated founders, and leads them with a hands-on, mentorship-driven approach. The incubator's program is designed with a boot camp feel to help founders jumpstart their companies towards success. OurCrowd Labs/02 is a partnership between OurCrowd, Motorola Solutions, Reliance Industries and Yissum (the Technology Transfer Company of The Hebrew University of Jerusalem). The incubator is part of the Israeli incubator program administered by the Israel Innovation Authority (formerly the office of the Chief Scientist). For more information visit: www.labs02.com or email info@labs02.com.

 

Contacts
MagniLEARN
Howard Cooper
howard@magnilearn.com 

 

Cision

View original content:http://www.prnewswire.com/news-releases/ed-tech-startup-magnilearn-recognized-as-promising-ai-startup-in-chinas-innoweek-conference-300981486.html

SOURCE MagniLEARN