The Seattle company, run by serial tech entrepreneur Andy Sack, seeks to streamline the loan application process and relies heavily on recommendations from angel investors, venture capitalists and tech industry veterans.

FORBES: Picking Favorites At Finovate Fall 2011

In their version, parental ballots could be held and local-government officials would have to sack head teachers or hand schools over to be run by more successful ones, if that was what parents said they wanted.

ECONOMIST: Transforming Britain's schools