Look to China for Edtech Innovation
If you’re looking for momentum in edtech innovation, look no further than China.
Driving the substantial growth in the edtech industry, China already generates $300 billion in an industry that demands quality education products and services. In 2018, most of this effort was targeted for early childhood and K-12 education, but vocational and test prep transactions came close to matching the need in the first two sectors combined. In addition, the white-collar vocational education market has witnessed 12.6% growth in a single year.
The implication is clear: edtech in China is an ever-expanding business.
Where the unicorns are
Edtech unicorns are those privately held companies with more than one billion dollars in revenue. (Decahorns have ten times that kind of revenue).The best place to find these mythical startups is in Beijing, which has been called the world’s largest edtech ecosystem.
There are 3,000 edtech startups in Beijing and 1000 in Shanghai. Obviously, not all of them are unicorns, but these two cities are good places to begin, especially because of the universities in each city. Both foster a climate conducive to edtech innovation, and many edtech companies have grown out of this synergy.
How China fuels edtech
China’s focus on learning has created optimal conditions for the development of edtech as a solution to the growing need for instruction. Two factors, in particular, determine the growth of edtech in China: parent demand and government focus.
Parent demand
Parents in China not only recognize the importance of investing in their children’s education; they do something about it. Chinese parents put nearly 20% of their income toward afterschool classes and tutoring opportunities, even though the public schools are free.
The only way to meet this demand is through edtech solutions that can scale up quickly.
Government focus
China’s bold moves in education reform have come from what Chinese deputy director general of basic education, Wang Dinghua, calls a shift “from a nation with large human resources to a nation with strong human resources.”
If all goes according to plan, schools will be automated learning centers by the year 2030.
Networking at edtech conferences in China
To maximize your time in China, coordinate your visit with these edtech summits.
Edtech Asia – This conference brings together educators and entrepreneurs to empower leaders and share expertise. The next summit takes place in August 2019. Edtech Asia also hosts meetups and workshops.
GET China – Called the “gateway to the Chinese education market,” the GET summit is the largest of its kind in China. In fact, it’s so big that it has its own product portal, Xiaoyu. Don’t think that the work stays in China. The summit goal is to connect you with the rest of the world.
GES – Edtech innovation and collaboration are leading themes at this conference. Don’t pack your bags for this summit until you’re invited; it’s invitation only, and this year’s attendees haven’t been notified yet.
Traditionally, locations like Silicon Valley and Europe have caught the attention of edtech entrepreneurs, investors, and angels. Some of the best incubation is taking place in China, where meeting education need is the driving force behind innovation.
Frankly, the level of espionage by China gives me great pause in looking to them for anything in the technology space. From stealing trade secrets to intellectual property violations to just basic spying, China has stepped up its efforts against the US significantly over the last few years. General spying could and often will take the form of students coming to the US under the guise of pursuing educational initiatives. If you choose to connect with China, be careful not to fall victim to their nefarious activities.
Thanks for the advice. My research in the edtech space certainly backs up your comments. They openly copy U.S. tech products and sadly there is nothing we can do about it.
Actually Dr. Lynch, there are a few things we can do. The FBI has squads across the country devoted to investigating espionage and economic crimes…so the first thing companies who feel China has stolen from them should do is report these activities to the FBI. Make certain the Bureau knows about every instance of crime so they can build a case. Also, we as citizens can be involved by employing the “see something, say something” mode of operation. There are only about 14,000 FBI Special Agents around the world…they can’t be everywhere and see everything so we can all be additional sets of eyes and get involved in reporting suspicious activities. The wheels of justice may turn slowly, but I assure you there are good people out there making sure they are turning.
And thank you Dr. Lynch for all your great edtech articles, I enjoy reading them!!!