Tech firm signs student deal with Chinese news agency

BNN Technology, the AIM-listed technology, content and services company, has signed a deal targeting China’s 35 million students with job hunting services and micro-loans.

Working with state news agency Xinhua and launching first in Zhejiang, BNN’s data platform will help employers to vet students, while verifying opportunities for job seekers.

The partners are also recruiting suppliers of student staples such as laptop, tablets and mobile phones, as well as banks to provide funds to buy them.

The three-year cooperation agreement marks the Knutsford-based firm’s first partnership to launch its products in the Zhejiang province and is an extension of the group’s technology into new potential revenue generating areas.

Revenues will be generated through fees charged to employers, sales of mobile phones and other devices and advertising.

BNN said that discussions are ongoing with commercial partners who are able to supply mobile phones and other devices, as well as with banks to provide access to appropriate financing packages.

These aspects of the platform are anticipated to be launched in October 2017 and revenue generating in the final quarter of the current financial year.

BNN said Discussions are underway in other provinces to sign similar partnerships with Xinhua.

BNN chief executive Darren Mercer hopes eventually to offer crowdfunding and angel support for student business plans.

The move is backed by Chinese government policy to expand universities and prospects for graduates.

Mercer said: “This important development will put us at the heart of one of China’s most valuable user groups, namely its 35 million students.

“This partnership allows our platform to benefit from new potential revenue streams in the provision of recruitment services and higher margin B2C sales of our existing products to this user group.

“Furthermore, the student platform is expected to develop into a substantial database, which we believe will be attractive to a broad range of advertisers seeking to target this sector.”

BNN is on course for a secondary listing on Nasdaq later this year.