Investee Company Update - Vemo Education Inc

RNS Number : 3380J

FastForward Innovations Limited

17 December 2015

 

17 December 2015

FastForward  Innovations Limited

("FastForward" or the "Company")

Investee Company Update: EdTech company

Vemo Education, Inc. to Develop "What Am I Worth" with FremantleMedia North America

VEMO Education. Inc. ("Vemo") is an Education Technology company working with U.S.-based colleges and universities to provide a technology platform for income-based student financing programs in the US$1.3 trillion student debt market in the United States.  FastForward holds an 8.2% equity interest in Vemo.

Vemo has announced that it will work with FremantleMedia North America, one of the largest producers and distributors of television brands in the world, including programs such as American Idol, America's Got Talent and The Price Is Right, to develop and distribute an innovative reality show called "What Am I Worth" (working title).  Showcasing incredible stories of high achieving students from diverse backgrounds, the format will feature students vying for a chance to win funding for their college education.

Vemo Executive Chairman Lorne Abony, who will serve as Executive Producer of the show, stated;  "We in the USA have a student debt crisis with no solutions. Even if we only affect the lives of a few dozen people through this show, we want it to make a real difference for those students who come before our judging panel by providing them with the opportunity to graduate without the worrisome burden of student debt."

U.S.-based students vying for a position on the show will apply via the Schoold App, a free mobile app created to be a student's complete college admissions and career counselor.  Using machine learning, crowdsourcing and natural language processing, the app will be able to pick up on students' interests through social media analytics and match them to the careers where they are most likely to succeed. "What Am I Worth" will incorporate some of those findings into its selection and competition process.

About Vemo Education

Vemo Education's mission is to help higher education institutions empower their students by developing customized, value-oriented student financing programs.  Providing a full-service approach to its partners, Vemo has invested in the infrastructure required to design, price, originate, disburse, and service income-based payment products. Vemo's management team has extensive experience in education finance and the financial aid sector.  Learn more at www.vemo.com.

For further information please visit www.kualainnovations.com or contact:

FastForward  Innovations Limited Tel: [phone] Elysium Fund Management Limited

Beaumont Cornish Limited (Nomad) Tel: [phone] James Biddle / Michael Cornish

Peterhouse Corporate Finance Limited (Broker) Tel: [phone] Guy Miller / Lucy Williams

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of FastForward Innovations Limited and the companies in which it invests. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. FastForward Innovations Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

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