Technology

Early Results of Rooted School Foundation’s “The $50 Study” Include Promising Findings

Published

1 month ago

August 12, 2024

The $50 Study is a first of its kind study to measure the impact of direct, unconditional, cash transfers on teens. Results and findings from cohort I of a multi-year Randomized Controlled Trial show that students who receive direct cash transfers experience improved school attendance, reading level and financial capability.

NEW ORLEANS, Aug. 12, 2024 /PRNewswire/ — Rooted School Foundation is excited to share preliminary findings and results from “The $50 Study”, an innovative guaranteed income program aimed at high school students in New Orleans and Indianapolis. Since its inception in 2020, The $50 Study has reached over 400 students, making it one of the largest studies of its kind globally. From 2022-2024, Rooted School Foundation (RSF) facilitated a Randomized Controlled Trial (RCT) in which two cohorts of students received $50/week for 40 weeks. The results from the first cohort offer a promising outlook on the ways guaranteed income can impact high school students.

Treatment group reading scores grew 0.5 years vs 0.25 for control group in same period, showing greater improvement.

Cohort I Key Findings

The first cohort included 156 students from Rooted School New Orleans and Rooted School Indianapolis; 82 students were in the treatment group receiving $50/week for 40 weeks during the 2022-2023 school year. The remaining students were in the control group and did not receive the cash transfers. Preliminary results from of the study, compiled by the Center for Guaranteed Income Research and the University of Tennessee-Knoxville, are directionally promising as they suggest that direct cash transfers impact students’ lives in the following ways:

Students in the treatment group missed two fewer days of school (over a semester) compared to those in the control group. As students are required to be present a specific number of days for both grade promotion and graduation, the impact of decreased absenteeism can have a significant impact on students’ educational outcomes.Lexile (reading) score levels grew more for students in the treatment group (0.5 years growth) compared to those in the control group (0.25 years growth) over the same time period. Reading level is a key indicator of educational success, both in high school and after graduation.Students in the treatment group improved their knowledge and habits related to managing money. While financial literacy was not explicitly taught to students in the treatment group, the findings from survey responses suggest that students’ who receive the cash transfers deepen their financial capability.Transaction data shows that students predominantly used the money for basic needs such as food and transportation. Approximately 47% of money transferred to students in cohort I was still in bank accounts at the end of the study, suggesting that students are also intentionally saving their money.

“When young people have access to money – and the stress relief inherent within that access – transformative outcomes are possible. These outcomes transcend credit attainment, Lexile growth, and excellent attendance numbers… This transcendence means actively walking the path to financial freedom every day.” – Kaitlin Karpinski, Rooted School New Orleans Executive Director and School Leader

Impact on The Field
While many guaranteed income pilots and studies explore and highlight the positive impacts of guaranteed income for adults, minimal research has been done to understand the implications of direct cash transfers on youth, specifically through the lens of academic outcomes. This study starts to fill that gap, showing that small cash transfers can improve school performance, increase financial capability, and improve well-being. RSF is in the final months of cohort II of the RCT (230 students total; 91 in treatment), and will have results from both cohorts available in 2025.

“We know that the odds for upward economic mobility are increasingly stacked against young people, particularly those from lower income backgrounds and marginalized identities. This study, the first ever conducted with high schoolers, shows that when young people are trusted and supported with unconditional cash, they invest in their futures – improving their reading ability, class attendance, and capacity to manage money. Expanding The $50 Study will not only lead to improved outcomes for more students, but will also further the research base for the impact of these programs” – Dr. Stacia West, Co-Founder, Center for Guaranteed Income Research, University of Pennsylvania; Associate Professor, University of Tennessee

The $50 Study Expansion Plans
Building on the success of the RCT, RSF is preparing to launch “The $50 Study: Long Term Impacts of Unconditional Cash for High School Students” in partnership with The City of New Orleans’ Office of Economic Development. This RCT study will include 1,600 New Orleans public high school seniors; 800 students will receive $50/week for 40 weeks. Students will continue to be enrolled in the study for an additional 46 months after the transfers end to further understand the impact of the cash transfers on long-term outcomes, such as college enrollment and persistence.

RSF has invited all open enrollment charter high schools in Orleans Parish to participate in the expanded $50 Study. The following schools have opted-in to participate: Rooted School New Orleans, New Harmony High School, Sophie B. Wright High School, InspireNOLA Schools: Edna Karr High School, McDonough 35 College Preparatory High School and Eleanor McMain Secondary School, Collegiate Academies Schools: Abramson Sci Academy, G.W. Carver High School and Livingston Collegiate Academy, and EQA Schools: The NET: Central City, The NET: East, and The NET: Gentilly. RSF will keep the invitation to participation open until September 1, 2024.

“The Office of Economic Development is thrilled to be an investor in ‘The $50 Study,'” said Jeff Schwartz, Director of Economic Development at the City of New Orleans. “This unique guaranteed income study enrolling public high school students will produce results that will inform policy and programming as we all work toward a more equitable and inclusive city. This study meets students where they are and provides opportunities for economic mobility that will surely create lasting impacts for individuals and in the larger community.” – Jeffery E. Schwartz, Director of Economic Development, City of New Orleans

“With The $50 Study, we’re charting new territory in youth economic empowerment and education. Our initial observations are intriguing, showing potential in areas like school engagement and financial capability. However, we’re cautious about drawing broad conclusions at this early stage. What’s clear is that this approach warrants further exploration. As we expand the study, we hope to gain deeper insights that could inform future educational strategies and economic policies for young people.” – Jonathan Johnson, Founder and CEO of Rooted School Foundation, who is also an Advisor with the Guaranteed Income & Health Consortium at Johns Hopkins Bloomberg School of Public Health

Support for The $50 Study
Individuals and organizations interested in investment or involvement in The $50 Study can connect with the team by emailing youthcashtransfer@rootedschool.org, listening to participant stories on The Rooted Cash Podcast, or donating to the program here.

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SOURCE Rooted School Foundation

Technology

3B Scientific Acquires Veterinary Simulator Industries

Published

56 mins ago

September 23, 2024

HAMBURG, Germany, Sept. 23, 2024 /PRNewswire/ — 3B Scientific, a global leader in the manufacturing and marketing of medical and scientific educational products, announced today that it has acquired Veterinary Simulator Industries (VSI), a leading developer of veterinary simulation models.

Founded with a commitment to advancing veterinary education, VSI has developed a range of highly realistic and effective veterinary simulators that are redefining how veterinary training is delivered. With a focus on quality and innovation, VSI’s products provide a practical, hands-on approach to veterinary education, meeting the diverse needs of educators and students around the world. “Veterinary Simulator Industries is widely recognized for its outstanding veterinary training solutions, which perfectly complement our extensive range of educational tools. We are thrilled to welcome VSI into the 3B Scientific family. By combining our strengths in product development, manufacturing, and global distribution, we aim to set new standards in veterinary education, offering unparalleled resources to training institutions and professionals worldwide” commented Todd Murray, CEO of 3B Scientific.

David Jackson, Managing Director of Veterinary Simulator Industries, added: “Joining forces with 3B Scientific is an exciting step forward for VSI. The global reach of the 3B Scientific Group and commitment to innovation will enable us to further develop our product line and deliver even greater value to the veterinary education community. Together, we look forward to creating more advanced, realistic simulators and expanding access to high-quality training tools.”

About the 3B Scientific Group

3B Scientific, established in 1948 in Hamburg, Germany, is a global provider of state-of-the-art medical simulators and educational products for healthcare and veterinary training. With a presence in over 120 countries, the 3B Scientific Group continues to drive its mission of advancing the delivery of medical and veterinary education worldwide.

For more information about 3B Scientific, visit www.3bscientific.com.

About Veterinary Simulator Industries

Veterinary Simulator Industries (VSI) is a leading developer of high-quality veterinary simulators, designed to offer realistic, hands-on training experiences that enhance veterinary education and training. VSI’s products are trusted by educators and professionals globally for their realism and educational effectiveness.

To learn more about VSI, visit www.vetsimulators.com.

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Technology

Reticulate Micro Demonstrates First-ever Live Video Streaming over MUOS Network for a U.S. Army Special Operations Organization

Published

56 mins ago

September 23, 2024

Demo Showcased VAST™Video Throughput, Augmenting MUOS SATCOM for Mobile Forces

PALM BAY, Fla., Sept. 23, 2024 /PRNewswire/ — Reticulate Micro, Inc. announced it successfully demonstrated what the Company believes to be the first-ever real-time video streaming over the Mobile User Objective System (MUOS) tactical satellite network for a U.S. Special Operations organization.

The joint U.S. Army live training exercise included Reticulate and its partners, NanTenna, LLC, a leader in antenna technology innovation, and Curtiss-Wright, a trusted, proven leader in communications and processing systems for the tactical edge as well as other highly engineered products and services for the aerospace/defense industry.

The teams integrated Reticulate Micro’s VAST video encoder and Curtiss-Wright Defense Solutions’ PacStar® Modular Radio Center to deliver live video for the first time over unbonded but Type 1 encrypted MUOS narrowband channels. Despite the constrained bandwidth, the combined solution delivered minimal delay and clear picture quality, demonstrating the potential of live video over MUOS SATCOM systems.

“We demonstrated a complete point-to-point, real-time full-motion video session over MUOS in both static and on-the-move scenarios,” noted Brian Hawkins, principal architect, Reticulate Micro, who conducted the video at a U.S. Army site. “Overall reactions from the customer were extremely positive, with invites back for follow-on exercises.”

“We are proud of our team that executed this powerful demonstration,” said Joshua Cryer, president and CEO, Reticulate Micro. “Along with our partners, NanTenna and Curtiss-Wright, we continue to make history together with low-latency and high-quality voice and video.”

Thomas Larkin, president of NanTenna, considers the MUOS demonstration a huge leap forward in narrowband SATCOM capabilities. “As more and more users are allocated MUOS connectivity, it is imperative that we, as an industry, offer end-to-end solutions to maximize its utility value to the warfighter. This demonstrates that our existing technologies can provide high-quality, low-latency video, even in the most challenging environments,” he said.

“Curtiss-Wright is dedicated to developing small form factor rugged tactical communications solutions for the US DOD and our allies,” said Brian Perry, senior vice president and general manager, Curtiss-Wright Defense Solutions Division. “By pairing our PacStar® Modular Radio Center and Modular Data Center with components from defense industry-leading partners like Reticulate Micro and NanTenna, we are able to extend C2 networks with simultaneous voice, video, and mission data anywhere within the worldwide coverage area of MUOS.”

The latest demonstration follows a U.S. Army demonstration of VAST over UHF TACSAT in February, conducted in partnership with NanTenna. Input from this and other demos is guiding Reticulate’s product roadmap, as it looks to add new features and functionality to meet the U.S. military’s mobile comms requirements.

About Reticulate Micro, Inc. 

Reticulate Micro Inc. (“Reticulate Micro,” “Reticulate” or the “Company”) is a commercial and defense software technology company dedicated to delivering trusted and resilient communications at the network edge. Reticulate specializes in software-defined video compression and streaming solutions and agile, simplified device monitoring and management. Led by tactical communications veterans and satellite and software visionaries, Reticulate delivers resiliency and intelligence on the ground for the military, first responders, critical infrastructure, and enterprise users. We work with an ecosystem of channel and technology partners to bring the most powerful solutions to market across electronic warfare, tactical communications and streaming media technology.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements that are subject to various risks and uncertainties. In addition, our representatives or we may make forward-looking statements orally or in writing from time to time. We base these forward-looking statements on our expectations and projections about future events, which we derive from the available information. Such forward-looking statements relate to future events or our future performance, including our financial performance and projections, revenue and earnings growth, and business prospects and opportunities. You can identify forward-looking statements by those that are not historical facts, particularly those that use terminology such as “intends,” “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms.

Although the Company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the offering statement filed with the U.S. Securities and Exchange Commission on July 31, 2024. Forward-looking statements speak only as of the date of the document in which they are contained, and the Company does not undertake any duty to update any forward-looking statements except as may be required by law.

All trademarks, trade names, product names, or logos mentioned or used are the property of their respective owners.

Contact:

Media:
Reticulate Micro Media Relations
media@reticulate.io

Investor Relations:
Reticulate Micro Investor Relations
ir@reticulate.io

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SOURCE Reticulate Micro, Inc.

Technology

SeatBoost Secures Investment from International Airlines Group

Published

56 mins ago

September 23, 2024

LOS ANGELES, Sept. 23, 2024 /PRNewswire/ — SeatBoost, a startup that is transforming the air travel experience through dynamic seat upgrade solutions, is pleased to announce an investment from International Airlines Group (IAG). This funding marks an important milestone in SeatBoost’s mission to bring joy to travelers’ experiences while generating incremental non-dilutive revenue for partner airlines.

SeatBoost’s platform facilitates live auctions on mobile in the airport environment, offering passengers the chance to bid for premium seat inventory made available by the airlines. The platform not only provides passengers with a unique engaging experience, but it also generates incremental non-dilutive revenue on seat inventory that would otherwise spoil. Current partners include IAG portfolio brand Iberia, TAP Air Portugal, Condor, Avianca and LATAM. With support from IAG through its corporate venture capital arm, SeatBoost plans to expand its capabilities and further improve the travel experience for passengers around the world.

Kevin Stamler, CEO of SeatBoost, shared his thoughts on the investment: “We’re excited to partner with IAG at this important stage in our journey. This collaboration not only supports our vision but also helps us accelerate our growth and innovation. Our aim is to enhance data-driven insights to create personalized experiences for travelers while maximizing revenue for airlines. The investment from IAG validates our business model and underscores the potential of SeatBoost and the positive impact we can achieve together in the travel industry.”

Raza Ali, IAG’s Vice President – Innovation, commented, “Innovation is a core function at IAG, and through innovation we can deliver better customer experiences, more efficient operations, more sustainable aviation and a better-performing business overall. That’s why we think the creative approach of SeatBoost to unlock meaningful revenue from new sources of demand is aligned with our view.”

The partnership with IAG will enable SeatBoost to leverage technology and innovation, improving its current offerings and paving the way for additional solutions that prioritize customer needs and operational efficiency. As SeatBoost expands, it remains committed to setting high standards in the travel sector, ensuring passengers enjoy a seamless, personalized airport and flying experience.

About SeatBoost
SeatBoost is a travel technology startup dedicated to enhancing simultaneously the air travel experience and airline profitability through innovation. Our highly scalable and highly configurable platform is built to leverage the outcome-efficient revenue generating capability of auctions through interactive user engagement.

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About International Airlines Group (IAG)
International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets.

IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.

Media contact
Marianna D’Amore
media@seatboost.com

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SOURCE SeatBoost, Inc.