Frequently Asked Questions
Which industry are you most closely related to?
FinTech in the education sector
Why is your team uniquely qualified to build your startup?
Our team consists of 3 childhood best friends who have known each other for thirteen years. Having a strong team dynamic allows us to focus on our strengths and complement each other to cover up for any weaknesses. Siddhi is majoring in Economics and Data Science which has enhanced her skills in both market research and market size calculations. Ayushi is studying Computer Science and Business Administration which has helped inform her perspective on how to balance and effectively merge the technical and financial aspects of the platform. Manav is majoring in Computer Engineering. His understanding of the subject has majorly contributed to the creation of GrayKea’s platform and innovative problem-solving.
How many potential customers are there and how large is the market?
There are about 5 million students every year that experience extreme financial stress due to the high cost of college tuition. On average, we would require $130 billion every year to help these students. On the alumni side - only 11.6% of all 118 million alumni in the U.S. currently give back to their alma mater. Having spoken to alumni across UIUC, UCB, and USC, we have realized that about 5% of these remaining alumni are not giving back because they want to see the impact of their contribution by giving back to students personally.
Do you offer mentorship on your platform?
We don't currently offer mentorship but it is coming soon!
Why did you choose the name GrayKea?
The Kea bird is known for its intelligence and problem solving abilities. Since we’re solving the massive student problem of making college more affordable, we named our company after this bird. The ‘Gray’ in GrayKea also contributes to the same concept by referring to the gray matter of the brain.
How are you incorporated?
We are incorporated as a C corporation and are in the process of forming a non-profit as well.
Will you be targeting other schools in the future?
Yes, absolutely. We hope to expand to schools neighboring the three universities in phase 2. Our ultimate goal is to be in every 4 year public and private university in the United States.
How do you pronounce GrayKea?