[et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
The Australian Vietnam Innovation Exchange was a key initiative aimed at fostering connections and promoting EdTech collaborations between Australia and Vietnam.<\/span><\/p>\n This program provided a platform for EdTech entrepreneurs and industry leaders to share insights and strategies for market entry into Australia and Vietnam with sessions covering three core areas: export opportunities, role of partnerships and new market strategy.<\/span><\/p>\n This program was a 2-year initiative and received grant funding from the Department of Foreign Affairs and Trade under the Australia-Vietnam Enhanced Economic Engagement Grant Program 2021.<\/span><\/i><\/p>\n <\/p>\n [\/et_pb_text_block_v1][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n For the second cohort of this program we had 10 companies from Australia and Vietnam participate.<\/span><\/p>\n [\/et_pb_text_block_v1][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/AVEG-Cohort-2-Participating-Companies.png” title_text=”AVEG Cohort 2 Participating Companies” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n This session focused on investment and export in the education technology (EdTech) sector. The conversation covered market dynamics, institutional readiness for digital technologies, and models for expanding into new markets.<\/span><\/p>\n <\/p>\n [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/Sandeep-Aneja.jpeg” title_text=”Sandeep Aneja” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Sandeep Aneja<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2022\/06\/200×200-David-Linke.png” title_text=”200×200 David Linke” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n David Linke<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n <\/p>\n Expanding into new markets requires strategic thinking and deep understanding of local culture<\/b><\/p>\n When discussing the challenges and opportunities of expanding into new markets, Sandeep Anija emphasised the importance of understanding local culture and spending time in the target market. He also highlighted the various approaches companies can take when entering a new market, including acquiring a company, acquiring a team, setting up an outpost, or relocating the founder to the new market.<\/span><\/p>\n “New markets should be viewed as a new company, not just a new market in our opinion,” said Sandeep. He noted that the success of a company’s expansion is often dependent on the founder’s presence and understanding of the local culture, as well as finding the right culture fit between the organisations involved.<\/span><\/p>\n The role of institutions and teachers in the digital transformation of education<\/b><\/p>\n Sandeep shared his insights on the readiness of educational institutions and teachers in embracing digital technologies. While acknowledging the progress made in recent years, he stated that there is still a long way to go in terms of digital transformation and teacher capability.<\/span><\/p>\n “Capability has got two components when it comes to digital technologies,” said Sandeep. He explained that while teachers may be able to use digital technologies in the classroom, many struggle with teaching live or through recorded sessions on camera. “Most teachers are used to speaking to eyes, looking back at them. Teaching to a camera is super hard for most teachers,” he added.<\/span><\/p>\n Sandeep also talked about the differences in trust between public and private education institutions in Asia, with parents often seeking private education options for their children due to a lack of trust in public institutions. This creates opportunities for EdTech companies to provide solutions that cater to these specific markets.<\/span><\/p>\n The potential for EdTech companies to succeed in both established and emerging markets<\/b><\/p>\n Sandeep suggested that companies looking to expand internationally should carefully consider the market they are entering and the strategies they will employ, including acquiring a company or team, setting up an outpost, or relocating the founder.<\/span><\/p>\n Sandeep’s insights highlight the importance of understanding local culture, investing in digital transformation, and strategically planning international expansions for EdTech companies looking to succeed in both established and emerging markets.<\/span><\/p>\n Key insights<\/b><\/p>\n [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n This session focused on partnerships and market entry strategies in the Australian and Vietnamese EdTech markets. The speakers shared their experiences and insights on how to connect into these markets.<\/span><\/p>\n <\/p>\n [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2022\/06\/200×200-David-Linke.png” title_text=”200×200 David Linke” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n David Linke<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/Hanh-Nguyen.png” title_text=”Hanh Nguyen” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Hanh Nguyen<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/Genevieve-Gilmore.png” title_text=”Genevieve Gilmore” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/Huy-Tran.png” title_text=”Huy Tran” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Huy Tran<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n <\/p>\n Establishing successful partnerships between Australia and Vietnam requires customisation, understanding of stakeholders, and long-term investment<\/b><\/p>\n In the Vietnamese EdTech market, it is crucial to approach each customer with a customised solution, taking into consideration the unique needs and concerns of different stakeholders within schools and institutions. Huy emphasised the importance of investing in long-term relationships with partners and understanding that the decision-making process in schools can be complex. He also highlighted the value of providing consulting services and support to customers, working closely with them to deliver tailored solutions.<\/span><\/p>\n Localisation is crucial for successful EdTech implementation in Vietnam<\/b><\/p>\n Successfully implementing EdTech products in Vietnam requires more than just translating content into the local language. It involves adapting the product to fit the unique needs and requirements of the Vietnamese market, as well as ensuring that it can integrate seamlessly with local systems and processes. “Localisation is one thing that I learned during many years of partnership. So basically more than just language, localisation is also integration, it’s also how it can work with other systems in their environment, in the customer environment as well,” explained Hanh.<\/span><\/p>\n Navigating government approvals and policies can be challenging but necessary for EdTech expansion in Vietnam<\/b><\/p>\n When entering the Vietnamese EdTech market, companies may need to obtain government approval to sell their products, depending on the specific sector they are targeting. While this process can be slow and difficult, it often results in more significant revenue and long-term contracts. “In some countries, you need government approval to sell into all sectors. In some you only need to sell approval to sell into government schools,” said Han. She also shared her experience of working with the Vietnamese government, noting that their involvement in the EdTech market has fluctuated over time, but they are now actively looking for Australian companies to help bring Vietnam into a more globalised economy through English language learning and technology.<\/span><\/p>\n Key insights<\/b><\/p>\n [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The third session focused on executive connections and strategy, with a presentation on international expansion and setting up for success in new markets.<\/span><\/p>\n <\/p>\n [\/et_pb_text_block_v1][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/edugrowth.org.au\/wp-content\/uploads\/2023\/06\/Ivar-Berget.png” title_text=”Ivar Berget” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Ivar Berget<\/strong> [\/et_pb_text_block_v1][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text_block_v1 _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n <\/p>\n Evaluate export readiness and consider the specific challenges when expanding internationally<\/b><\/p>\n Before entering a new market, it is crucial for businesses to evaluate their export readiness and consider the specific challenges they may face when expanding internationally. Factors such as having a working product or service, financial stability, sufficient bandwidth, and available capital are essential for success. Ivar suggested that companies should first exhaust their home market before thinking about international expansion.<\/span><\/p>\n Ivar emphasised the importance of understanding why companies want to export and ensuring they have a strong foundation in place. “Having a working product, the economics work, that you have enough bandwidth and enough cash, you can solve for them later, but still have a working sort of solution or hypothesis around where you want to go and how to do it,” he said. This process involves critically reviewing market entry opportunities, developing actionable strategies, and driving aligned outcomes.<\/span><\/p>\n For businesses looking to expand from Australia to Vietnam or vice versa, Ivar recommended considering factors such as demand and product-market fit, economic tailwinds, and doability. He also advised companies to be flexible, as success may come in unexpected ways or require adaptations to their initial strategy or plan.<\/span><\/p>\n Focus on building a strong business case and adjusting strategies as needed during execution<\/b><\/p>\n To determine when an export strategy or market entrance strategy is ready for execution, it is important to build a strong business case that considers factors such as revenue, costs, and resources. This process can help identify potential challenges and opportunities and ensure that the strategy is aligned with the company’s goals.<\/span><\/p>\n Ivar explained that building a business case allows companies to think through their assumptions systematically, as well as assess the profitability and potential return on investment. “Is this actually the best way of spending my capital at this point in time? And if it’s still yes, then that’s really great. Then I think you can sort of turn that strategy into a plan,” he said. Once the strategy is in place, it is essential to remain flexible and adapt to changes or challenges that may arise during execution.<\/span><\/p>\n When entering a new market, Ivar recommended that businesses be prepared to pivot and adjust their strategy or plan as needed. This may involve changing their approach to reaching customers, adapting their product or service offerings, or altering their resource allocation. He emphasised the importance of learning from these adjustments and revisiting the business case to ensure continued alignment with the company’s goals and objectives.<\/span><\/p>\n Establishing a local presence and partnerships can be key to successful international expansion<\/b><\/p>\n For businesses looking to establish a presence in a new market, it is essential to consider factors such as local partnerships, access to customers, and the need for a physical presence. In some cases, a local office or sales centre may be necessary to build credibility, engage with customers, and comply with local regulations.<\/span><\/p>\n Ivar noted that establishing a local presence can depend on the specific needs of the business and the market they are entering. “If it’s bigger deals, bigger sort of purchases, you probably would need a local presence. One, because they’re longer sales and then operationally it makes sense to have someone here as opposed to flying all the way,” he said. Additionally, building relationships with local partners can help companies navigate market entry challenges and provide access to valuable resources and expertise.<\/span><\/p>\n In the case of Vietnamese companies looking to expand into Australia, Ivar suggested focusing on building partnerships with local organisations and understanding the unique challenges and opportunities in the Australian market. This can help businesses adapt their strategy and plan effectively, ensuring a higher chance of success in their international expansion efforts.<\/span><\/p>\n Key insights<\/b><\/p>\nParticipating Companies<\/span><\/h3>\n
Export Opportunities<\/span><\/h3>\n
Speakers<\/span><\/h4>\n
Founder and Managing Director
<\/span>Kaizeinvest<\/span><\/p>\n
Managing Director
EduGrowth<\/span><\/p>\nTakeaways<\/span><\/h4>\n
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Role of Partnerships<\/span><\/h3>\n
Speakers<\/span><\/h4>\n
Managing Director
EduGrowth<\/span><\/p>\n
<\/span>Founder and CEO
Edtech Agency<\/span><\/p>\n
Co-Founder and Managing Director
Flexidata<\/span><\/p>\nTakeaways<\/span><\/h4>\n
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New Market Strategy<\/span><\/h3>\n
Speaker<\/span><\/h4>\n
Consultant and Director
Kiah Consulting<\/span><\/p>\nTakeaways<\/span><\/h4>\n