The University of Pennsylvania’s Graduate School of Education (Penn GSE) has secured investment for an undisclosed sum from publisher McGraw-Hill Education for its hybrid incubator and seed fund.
Called the Education Design Studio (EDS) and launched in collaboration with Penn GSE, the $2.1m incubator and seed fund is specifically designed to nurture and support the development of education startups. As part of its investment in EDS, McGraw will provide four to six startups in year one financial capital, as well as insight into market demands and mentorship.
Stephen Laster, chief digital officer of McGraw-Hill Education, said: “As a ‘125-year-old startup’ with a deep understanding of the education market, we welcome the opportunity to collaborate with EDS and the Graduate School of Education at the University of Pennsylvania and invest our time and resources in high-quality startup talent. This partnership presents a unique opportunity to combine the experience of our extensive in-house network of digital content developers with one of the leading and most entrepreneurial education schools in the country.”
