A business accelerator that helps United Kingdom technology startups break into the China market has received $3 million in fresh financing from Chinese investor Shenzhen QianHai DB Investment Management, or DBI.

The backing represents a five-fold increase in total venture funds for the Crayfish.io Accelerator since it was launched in September by Cambridge-based business services company Crayfish.io.

The accelerator is in the process of selecting five promising UK startups from a list of applicants. The successful companies will then receive an initial cash injection of up to 100,000 pounds($124,000) in return for equity.

In the second phase of the annual program, the selected startups will receive a crash course on the lucrative yet complex Chinese enterprise environment.

Training will include business plan preparation, Chinese market insights, Mandarin tutoring, and introductory sessions on Chinese business culture. Each startup will eventually pitch to an audience of Chinese investors in the hope of attracting additional funding.

"Since the launch of the program, we have been inundated with candidates and having the ability to now cover more industry and technology segments will allow us to support more tech startups to prepare their China-export strategy," said Crayfish.io founder Zhang Ting.

Zhang launched Crayfish.io in Cambridge in 2017 as an online marketplace operating under a similar model to that of global freelancing platform Upwork. Users post projects on the site that require Chinese language skills, and bilingual freelancers with relevant qualifications respond with bids and proposals.

DBI is the second anchor investor for the Crayfish.io Accelerator, along with the Birmingham-based UK-China Enterprise Fund, which is backed by the China Aviation Industrial Fund, a private equity fund from Shanghai.

DBI's investment focus is on the internet of things and semiconductors, in industries including automotive and consumer electronics.

In March, DBI contributed to a $20 million funding round for a separate UK company, Bristol-based HiLight Semiconductor, which supplies equipment for communications and network businesses.

"When it came to identifying the right investment opportunity for the UK and Europe, it became clear that the Crayfish.io Accelerator was the top choice for us at DBI to work with," said Fred Cai, chief executive of DBI. "Our ability to expand markets for internet of things and semiconductor prospects made this a robust fit for both parties."

Cai said DBI is especially interested in companies coming through the Crayfish.io Accelerator that are involved in communications technology and solutions.

Zhang said a particular strength of the accelerator is that it can help British startups gain access to Chinese investment before they have even established a footprint in China.

The accelerator is supported by the St John's Innovation Centre, an incubator for companies in Cambridge, which has a high density of startups.

"Over the years, I have seen many startups fail in their attempts to crack China, and the Crayfish.io Accelerator is just the sort of support they need to facilitate their business there," said David Gill, managing director of St John's Innovation Centre.