Crayfish to help UK businesses tap Chinese edtech market
There is a large scope for international education technology in China, however, businesses and edtech companies are still struggling to make headway into the marketplace due to several challenges. It now appears that UK edtech businesses, as well as other businesses, will be able to tap into the Chinese marketplace due to the new services being introduced by Crayfish International.
The company, an online marketplace for English-Chinese bilingual work, allows businesses to access a range of skills and expertise regardless of the project size. Ting Zhang, CEO and founder of Crayfish International, said that China’s 13th five-year plan is looking to digitise learning and education in the country. As a result, China has allocated US$40 billion (£30.7 billion) towards ICT and education technology.
Ting believes that Crayfish’s platform offers international education technology providers the perfect route to access Chinese consumers.
However, Qin Li, CEO of QED Education Group, begs to differ. She stated that the market in China is complex and challenging for overseas companies, as the procurement process is cumbersome and tedious. Qin also pointed out that businesses are worried about losing their intellectual property, and this makes it necessary to find the right Chinese partner who can help a company wade through the hiring process while protecting its intellectual property.
Ting stated that a lack of talent and resources is often the main reason that businesses are unable to perform on projects in China. These projects require two things: understanding of the local culture and bilingual language abilities. However, this can be overcome with the help of Crayfish, which allows education technology businesses get access to Chinese-speaking talent.
Using the available skills and talents through the Crayfish platform, education technology companies from the UK will be able to break the language barrier and overcome other challenges to access the vast Chinese edtech marketplace with ease.