Earlier this month, EdTechNZ hosted the third in our series of our export market deep-dives, this time focusing on the Australian market. According to our 2023 EdTech Annual Survey Report, over 18% of our local EdTechs export successfully to the Australian market. The webinar on the Australian Market Deep Dive provided an overview from industry experts from NZTE and local edtech founders to the opportunities and challenges faced when entering the Australian market.
The Australian education market includes over 9,600 schools, more than four million students, and upwards of 311,000 full-time equivalent teachers, all of which present a familiar but large scale environment for New Zealand’s edtech products and services. However, the diversity in school management, with the federal government setting curriculum standards while leaving schools to be managed at a state level, indicates the need for a nuanced and informed approach to market entry.
Jeanette Connon from NZTE emphasised the importance of understanding the unique characteristics of the Australian market, including the mandate of specific handwriting fonts by some states and the natural importance of local curriculum knowledge. The challenges of navigating this complex market are further affected by regulatory considerations, such as data privacy and the requirement for local business numbers (ABNs) and banking accounts.
Like with most export markets, there come challenges, but there are considerable opportunities for growth and impact in the Australian market. Success stories from New Zealand companies like StepsWeb and Hail underline the value of persistence, local engagement, and market adaptation. StepsWeb, an online literacy program, recounted their journey of initial setbacks and eventual success, highlighting the importance of aligning with local preferences, including font requirements and understanding state-specific educational priorities. Hail, offering a cloud-based content management system for schools, shared insights on their gradual market penetration strategy, stressing the significance of partnerships and local market understanding.
Our deep dive into the Australian market provided valuable discussions and insights around the regulatory challenges to the importance of local customisation alongside the potential for partnerships. It was a pleasure to hear from local edtechs like StepsWeb and Hail, who have successfully navigated this market to demonstrate the potential for local edtechs, but also the importance of strategic planning, market research, and adaptability in achieving success.
Catch up on the webinar here, and make sure to keep an eye out for our next market deep dives session where we explore the Middle East, scheduled for June.
EdTech EcoSystem
Thanks to a dedicated member of the NZ EdTech ecosystem, the EdTech Jobs NZ Facebook group connects individuals in, or interested in, NZ EdTech roles. This, along with the NZ Tech Startups Ecosystem Facebook group, could be valuable for finding suitable candidates for EdTech company positions.
