EdTech: Zhenyu Wu of EpicQuest Education Group On How Their Technology Will Make An Important Positive Impact On Education

Understanding the Target Community — You need to prioritize a deep understanding of the community you aim to impact. Recognize their unique needs, challenges, and existing resources. This insight is crucial for designing technology that is culturally sensitive and genuinely addresses the community’s requirements. (Example: Before developing a health information app, researchers spent time in a rural community to understand their healthcare challenges. This led to the creation of a user-friendly app tailored to the community’s prevalent health issues and available resources.)

In recent years, Big Tech has gotten a bad rep. But of course, many tech companies are doing important work making monumental positive changes to society, health, and the environment. To highlight these, we started a new interview series about “Technology Making An Important Positive Social Impact”. We are interviewing leaders of tech companies who are creating or have created a tech product that is helping to make a positive change in people’s lives or the environment. In this particular installment, we are talking to leaders of Education Technology companies, who share how their tech is helping to improve our educational system. As a part of this series, I had the pleasure of interviewing Zhenyu Wu.

Zhenyu Wu is an esteemed Board member and the Chief Financial Officer of EpicQuest Education Group (NASDAQ: EEIQ). He brings a wealth of knowledge from his ongoing tenure since 2017 as the Associate Dean Research and Graduate Research Programs, and as a Professor of Entrepreneurship and Finance at the Asper School of Business, University of Manitoba. Mr. Wu’s academic prowess is evident in his Ph.D. in Finance, MBA degree in Finance, and a Master’s Arts degree in Economics, all from the University of Calgary. Additionally, he holds a B.A. degree in Economics from Nankai University, Tianjin, China.

Thank you so much for joining us in this interview series. Before we dive in, our readers would love to learn a bit more about you. Can you tell us a bit about your childhood backstory and how you grew up?

My early years were very similar to those of most people. I went to a public school in the town where my family lived and was fortunate to be adept at learning. My journey into leadership began at the age of 7. I can’t say that I aspired to be a leader. It was more that others identified that skill or ability in me, and I was put into various leadership positions beginning in elementary school. These opportunities allowed me to understand leadership dynamics and instilled in me a lifelong commitment to leadership development. As the years progressed, my inclination towards leadership roles flourished. Advancing through my education, my curiosity and eagerness to embrace challenges intensified. Exposure to diverse opportunities not only refined my organizational and interpersonal skills but also instilled in me a profound sense of responsibility and accountability.

In the early years I was able to accelerate through my academic journey, completing my Bachelor’s degree in China at the age of 20. I believe this is a testament to my unwavering dedication to academic excellence. This journey, shaped by early experiences and academic accomplishments, influenced not only my professional trajectory, but also my approach to leadership. The early exposure to assessing and honing leadership skills provided a unique perspective, underscoring the importance of continuous growth and adaptability in navigating the complexities of leadership roles.

After completing my Bachelor’s degree, I moved to Canada. At the age of 28, I proudly earned my Ph.D. in Management with a specialization in Finance. The culmination of childhood experiences, accelerated academic achievements, and the attainment of a PhD at a relatively young age, underscores a continuous journey of self-discovery, growth, and an unwavering commitment to leadership excellence in both personal and professional realms.

You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?

These are quite easy for me to identify because they were not only instrumental to my past success, but they are the basis of my strategies in all aspects of business going forward.

1. Honesty — You can establish trust amongst your colleagues if you are honest with yourself and others. This allows you to establish honest communication among team members and stakeholders, which fosters a positive work environment for yourself and others, through transparent dialogue. Demonstrating integrity in decision-making is an example of ethical leadership, which is also based in honesty. This enhances not only the organization’s reputation but also encourages ethical behavior throughout the team. (Example — if a business leader openly communicates challenges the company is facing, such as financial difficulties or operational setbacks, with the entire team, by acknowledging the issues transparently, the leader fosters trust and collective problem-solving.)
2. Respect — Cultivating a culture of respect ensures every team member feels valued, contributing to high team morale and increased productivity. Fostering an environment of respect supports diversity and inclusion, enriching the work atmosphere with a variety of perspectives. (Example — a leader actively seeks, and values input from all team members during the decision-making processes. By respecting diverse perspectives, the leader ensures that every individual feels heard and valued, contributing to a positive and inclusive workplace culture.)
3. Forward-Looking — A forward-looking leader anticipates industry trends and adjusts or adapts strategies accordingly, ensuring the organization remains competitive. Encouraging a forward-thinking mindset inspires creativity and innovation with the team, driving the business ahead in a rapidly evolving landscape. Planning for the future strategically enables the leader to navigate challenges proactively, positioning the business for sustained success. Combining these characteristics creates a leadership approach that not only addresses the present challenges but also prepares the team and organization for a successful and sustainable future. (Example — In anticipation of emerging industry trends, a leader invests in training programs for the team to acquire new skills and stay ahead of technological advancements. This proactive approach positions the company to innovate and adapt swiftly to changes in the market, ensuring long-term success.)

Ok super. Let’s now shift to the main part of our discussion about the tech tools that you are helping to create that can make a positive social impact on our educational systems. To begin, what problems are you aiming to solve?

To be clear, at EpicQuest Education, we are not only working to create tech tools to help with our educational systems, we are trying to create a culture where international students get a complete education to help them adapt to North American education. We offer courses that will bring their learning up to the North American standards so that they can enroll in Colleges and Universities in Canada and the United States, but we also strive to teach them the cultural norms that they might not be familiar with. We want our students to succeed in all aspects of life as they pursue their educational goals.

But speaking about tech tools, viewing the communication challenge as an opportunity, we strive to emphasize how technology tools can serve as invaluable gateways to a broader education. At the heard of our philosophy is the conviction that a bachelor’s degree remains the premier pathway to securing robust and stable employment, regardless of the economic climate.

Acknowledging the current landscape where a competitive job market and escalating tuition costs have dissuaded many young individuals from pursuing higher education, we feel strongly that this deterrence can hinder career development. Our educational institutions, Davis University, in Toledo, Ohio, and EduGlobal College in Vancouver, B.C., have strategically positioned themselves to address this problem. We offer pragmatic, career-focused education designed to deliver a substantial return on investment for our students, in today’s dynamic economy.

We also understand that motivating individuals (not only the younger demographic, but all people) to pursue a college education is critical. Besides acquiring practical skills, we advocate for a holistic approach that encourages the understanding of the world — both conceptually and practically. We firmly believe that attending college is a gateway to not only defining life goals, but also exploring multiple career options for individuals, which we hope in turn fosters the foundation of a more fulfilled life.

Our commitment extends to empowering individuals to navigate the complexities of the modern world, equipping them with the tools to make informed decisions. We strive to inspire all students to embrace all that an education can offer them, leveraging technology to unlock opportunities and chart a course toward a more prosperous and purposeful future.

How do you think your technology can address this?

By embracing technological advancements, we are committed to transforming the college experience into one that is not only more accessible but also more exciting. Imagine the possibilities: virtual reality becomes a gateway, inviting students into immersive worlds of healthcare, finance, graphic design and more — transcending the confines of traditional textbooks. The integration of AI functions as teaching assistants ensures around-the-clock support and access to reference tools, elevating the learning experience to new heights.

There are so many innovative approaches, like 3-D holograms where math and science are conveyed in captivating ways that engage students on a deeper level. We recognize that the majority of our students have grown up in a digital environment. We believe that it is not only advantageous, but imperative to use appropriate technologies in their pursuit of higher education. We are constantly seeking out and adopting cutting-edge technologies to convey information in the most effective and engaging manner possible. By employing advanced algorithms and data-driven insights, we connect students with jobs that align with their passions. Through this integration of technology, we strive to redefine the educational landscape, making learning a dynamic and personalize journey that propels the students to a fulfilling and prosperous future.

Can you tell us the backstory about what inspired you to originally feel passionate about education?

Growing up, I experienced firsthand the impact of mentors and educators who integrated technology seamlessly into the learning process. This not only made education more engaging but also showcased the limitless possibilities that technology could offer. I also saw the power of technology to break down geographical barriers which opened up access to information from around the world. I encountered innovative educational technologies that augmented traditional learning methods. Whether through online courses, interactive simulations, or collaborative digital platforms, these experiences reinforce my belief in the potential of technology to transform education. Witnessing the digital disparities around the globe inspired a commitment to make education more accessible and inclusive. I became dedicated to exploring how emerging technologies could empower learners, especially those in underserved communities, to access high-quality educational resources. I am driven by the belief that the joining of education and technology has the power to enhance traditional educational methods and create a more equitable, adaptive, and globally connected educational landscape to the benefit of everyone.

Obviously, being a professor myself, I felt I had something to give students. Education is an area I was very familiar with. One of my areas of teaching and research is Entrepreneurship, and in the entrepreneurial spirit, I moved forward with the plans to develop EpicQuest Education in hopes that we could help students around the world.

And continuing on in that entrepreneurial spirit, the company has recently established two subsidiaries that operate in the sports-related entertainment and the sports, kinesiology and fitness academics fields. We believe that the sports-related entertainment sector holds vast potential for EpicQuest to participate in on a global scale. Our new 40%-owned sports-related entertainment subsidiary was formed to organize sports entertainment projects which adds an entirely new and exciting dimension to the Company. We expect that our previously announced soccer matches in China with the FIFA World Cup Argentina Men’s Soccer Team will generate substantial revenue for the Company while creating synergies with the new sports, kinesiology and fitness programming that will be offered by Davis University. The Company’s focus on our new sports-related vertical represents a new element in our strategic growth plan where we expect to be highly successful.

How do you think your technology might change the world?

At EpicQuest Education, our commitment to internationalized academic programming is woven into our mission. Technology stands as a cornerstone of this mission, serving as a force in providing widespread access to education and facilitating the sharing of values and common goals across cultures and continents. The strategic integration of technology, particularly through online classroom learning, plays a pivotal role in realizing our vision. It breaks down geographical barriers and makes education accessible to learners worldwide. This fosters a diverse and interconnected learning environment, but also contributes to the creation of a global community where knowledge knows no boundaries.

As well, by offering various online learning platforms, we unlock untold economic opportunities for individuals and entire nations. This extends to addressing a multitude of challenges, from healthcare to environmental issues, empowering learners to actively contribute to solutions that elevate the well-bring of citizens around the world.

With the expectation that enhanced education and technological proficiency leaders to increased standards of living for individuals and communities, we see a world where technology and education working together not only enriches the minds of individuals, but also uplifts societies by fostering innovation, resilience and a shared commitment to addressing the global challenges that define our era.

At EpicQuest Education we hope that the changes brought about by the advances in technology in education, can create an interconnected, knowledge-drive world where education services as a conduit for positive change, economic growth, and the betterment of humanity on a global scale.

Keeping the “Law of Unintended Consequences” in mind, can you see any potential drawbacks about this technology that people should think more deeply about?

While celebrating the benefits of technology, it is important to recognize the various potential drawbacks that often permeate public disclosure. Key concerns include issues of privacy, governmental regulation, data leakage, the ethical implications of artificial intelligence (AI), and the signification economic disruptions brought about by the rise of online shopping.

One concern that comes to mind centers around the potential impact on liberal arts education. In a landscape dominated by technology, there is a risk that the emphasis on values and critical thinking, integral components of a liberal arts education, may be overshadowed. As the focus shifts towards STEM (Science, Technology, Engineering, and Mathematics) fields, there is a concern that the broader understanding of societal, ethical, and cultural issues may take a back seat, potentially diminishing the well-rounded education that fosters a holistic worldview. This heightened emphasis on technical skills could potentially undervalue the importance of liberal arts, leaving a gap in the workforce where critical thinking, creativity, and a deep understanding of human values are equally essential.

We need to continue to recognize the relationship between technology and foundational principles of critical thinking, ethics, and holistic understanding embedded in a liberal arts education.

How do you envision the landscape of education evolving over the next decade, and how does your technology fit into that future?

We expect there to be a continued surge in the demand for STEM and digital professionals, based on the evolving needs of the market economy. At Davis University, we are proactively adapting to this shift, placing practical educational programming at the forefront. Our commitment extends beyond traditional classroom learning; we emphasize experiential education, offering students invaluable externship opportunities. This immersive approach ensures that the skills acquired within the classroom seamlessly translate into real-world applications within their chosen careers. An environment fostering experiential learning can open doors that were previously closed.

To stay at the forefront of technological advancements, we prioritize hiring teachers and professionals actively engaged in their respective fields. This not only keeps our curriculum up to date but also ensures that our students are exposed to the latest technologies employed in various industries. We believe that staying abreast of industry practices is integral to preparing students for the dynamic and fast-paced nature of the job market.

To stay at the forefront of technological advancements, we prioritize hiring teachers and professionals actively engaged in their respective fields. This not only keeps our curriculum up to date but also ensures that our students are exposed to the latest technologies employed in various industries. We believe that staying abreast of industry practices is integral to preparing students for the dynamic and fast-paced nature of the job market.

Our mission of internationalization is not just a statement but a strategic imperative. Through numerous international collaborations, we are uniquely positioned to integrate advances in technology from around the world into our core programming. This ensures that our students acquire an advanced skill set that rivals any student globally. By embracing a global perspective and incorporating diverse technological innovations, we aim to equip our students with the tools needed to thrive in an interconnected, technology-driven world, making them competitive on a global scale.

Technology also allows those students who do not have the luxury of attending classes in person, to still benefit from the numerous learning opportunities that are available.

Based on your experience and success, can you please share “Five things you need to know to successfully create technology that can make a positive social impact”?

1. Understanding the Target Community — You need to prioritize a deep understanding of the community you aim to impact. Recognize their unique needs, challenges, and existing resources. This insight is crucial for designing technology that is culturally sensitive and genuinely addresses the community’s requirements. (Example: Before developing a health information app, researchers spent time in a rural community to understand their healthcare challenges. This led to the creation of a user-friendly app tailored to the community’s prevalent health issues and available resources.)
2. Accessibility and Inclusivity — Design technology that is accessible to a diverse audience, considering factors such as language, literacy levels, and physical abilities. Prioritize inclusivity to ensure that your solution reaches all segments of the community, avoiding unintentional exclusion. (Example: A team developing a disaster preparedness app ensured it was accessible to people with various abilities. They incorporated features like voice-assisted navigation and collaborated with organizations focusing on accessibility to guarantee inclusivity for all community members.)
3. Ethical Considerations and Data Privacy — Uphold ethical principles in the development and deployment of your technology. Prioritize data privacy and security, respecting the rights and autonomy of the individuals involved. Transparent communication about how data is collected, used, and protected is essential to building trust within the community. (Example: A nonprofit organization collecting health data in under served areas implemented strict data privacy measures. They obtained informed consent, anonymized data, and established a clear policy on how the information would be used, ensuring ethical practices and respecting the community’s privacy.)
4. Collaboration and Co-Creation — Engage the community in the development process. Foster collaborative relationships to ensure that the technology aligns with the community’s values and preferences. Co-creation not only enhances the solution’s relevance but also promotes a sense of ownership among the users. (Example: A technology company collaborated with local educators, parents, and students to develop an educational software platform. This co-creation approach ensured that the platform met the specific needs of the school community, enhancing engagement and learning outcomes.)
5. Sustainability and Scalability — Plan for the long term by creating sustainable solutions. Consider the environmental, economic, and social impact of your technology. Additionally, design with scalability in mind, allowing your solution to grow and adapt as the community evolves or as it expands to other regions. (Example: A solar-powered water purification system was implemented in a remote village. The technology not only addressed immediate water needs sustainably but was designed to be easily replicable and scalable, enabling its implementation in neighboring communities.)

By integrating these considerations into the development process, you can create technology that not only addresses social issues but does so in a sustainable, inclusive, and ethical manner, fostering positive and lasting impacts.

In the realm of EdTech, there’s often data collection involved. How do you ensure the ethical handling of user data, especially when it concerns students?

To uphold rigorous standards of ethical data handling, we have implemented sophisticated technologies that prioritize the confidentiality and security of student user data. Robust measures, such as user authentication protocols, data encryption mechanisms, and stringent firewalls, form the foundation of our data protection strategy. These measures are not only designed to safeguard sensitive information but also to prevent unauthorized access, ensuring that student data remains confidential and protected.

Transparency is a core value in our approach to data ethics. We prioritize providing users, especially students, with clear and accessible information about how their data is collected, used, and stored. This transparency extends to the purposes for which the data is utilized, fostering trust and confidence in our commitment to responsible data management.

A pivotal aspect of our data protection strategy involves the continuous enhancement of our network security. In an ever-evolving technological landscape, we understand the importance of staying ahead of potential threats. Regular updates and improvements to our security infrastructure ensure that we are equipped to mitigate emerging risks and challenges, providing a robust defense against unauthorized access and data breaches.

In summary, our commitment to the ethical handling of student data is multifaceted. From advanced technological safeguards to transparent communication and continuous security updates, we prioritize the privacy and security of our students. Our overarching goal is to provide a secure and trustworthy learning environment where users can confidently engage with educational technology while knowing that their data is treated with the utmost ethical consideration.

If you could tell other young people one thing about why they should consider making a positive impact on our environment or society, like you, what would you tell them?

If I had one piece of advice to share with young people about making a positive impact on our environment or society, it would be to recognize the transformative power of collective action and interconnectedness. Engaging with peers and individuals from diverse age groups fosters a rich exchange of ideas and perspectives. By opening lines of communication and collaborating with others, young people can harness the collective intelligence to identify innovative solutions for societal and environmental challenges. Connecting with like-minded individuals, and even those with differing viewpoints, not only broadens one’s understanding but also amplifies the impact of collective efforts.

Choosing one or two issues that resonate personally and connecting with others who share similar passions can be a catalyst for change. Together, young individuals can channel their energy and creativity to develop tangible outcomes that benefit their communities or causes. The collaborative approach encourages the exchange of diverse skills, knowledge, and resources, making the pursuit of positive impact more robust and effective.

It’s essential to recognize that even seemingly small actions, such as everyday kindness and goodwill, can have a contagious effect. These gestures create a positive ripple effect, fostering a harmonious environment and inspiring others to contribute to positive change. By focusing on the collective power of small steps and shared intentions, young individuals can contribute to building a more compassionate, sustainable, and equitable world for future generations.

How can our readers further follow your work online?

They can access our websites at daviscollege.edu and eduglobalcollege.com to see what new and exciting journeys that our students at our two colleges are experiencing.

Thank you so much for joining us. This was very inspirational, and we wish you continued success in your important work.