StudyBooster aims to motivate students with Financial Incentives

- March 21, 2013 < 1 MIN READ

StudyBooster is based upon the idea that an effective and proven way to motivate students to achieve their goals is to provide a financial incentive. They also know that goals are more achievable when they are written down, announced to peers and when deadlines are set.StudyBooster’s model ticks all these boxes.

It’s a smart and simple system:

  • The student sets a goal and alerts their family and friends via Facebook, Twitter or email
  • Family and friends are asked to pledge funds, with all pledged displayed on the student’s personal page on StudyBooster
  • The student sets about achieving their goal, but the money is only paid out (via PayPal) if friends and family are satisfied that the goal has been sufficiently met.

Whilst you could start ranting on about how we never had anything like this back and our days and we just did the job studied an got on with life, I think that startups like this are actually going to be key in playing a much bigger role in preparing the next generation for the real world and putting value against achieving outcomes in life / work. You do your job well, you get rewarded for it.

While not all students need incentives to perform well, for many they can be a powerful motivator. StudyBooster provides an easy-to-use way for those students who could benefit from a little extra motivation. It will be open to high school and tertiary students.

2% of all money donated goes to registered charity, Save the Children, to help improve education for less fortunate students. Which is just awesome, as those guys do some great work right around the world.