Innovation programme helps businesses expand into new markets
An innovation programme led by Innovate UK EDGE is helping businesses grow and expand into new markets.
Up to 15 high-growth, innovative businesses are supported during each Global Business Innovation Programme (GBIP).
They explore and exploit the collaboration, growth and innovation opportunities that exist in a specific business market around a specific theme, from Agritech to AI.
The GBIP provides detailed market knowledge, introductions and cultural insight that SMEs would find difficult to obtain themselves.
A GBIP has three stages - preparing for market, visiting the market and exploiting the opportunity.
The Global Business Innovation Programme operates on a competitive basis and businesses selected are required to participate in all three stages - which all currently occur virtually as a result of the pandemic).
More than 40 GBIPs have taken place to date in areas such as Agritech (Canada), offshore wind (China), future cities (India), cybersecurity (Israel), advanced materials (South Korea), and AI (USA).
The benefits GBIPs can bring include support in finding potential partners and facilitating meetings, providing cultural insights and direct one-on-one support in the lead up and after trips.
In the past, firms have been able to form strong partnerships with big companies abroad who have helped them to expand and even offered support for grants like Horizon Europe which requires a partner in the EU for funding.
The GBIP has previously taken innovative SMEs from the creative industries to SXSW in Austin, Texas, where the focus was on new immersive technologies such as AR, VR, haptics, advanced visualisations and other sensory interfaces.
This programme was designed to showcase innovative UK businesses to the US market and help build develop partnerships and working relationships in the region.
South By Southwest (SXSW), one of the world 's leading events at the convergence of the interactive, film, and music industries, provided an opportunity to meet and network with key players from across the creative industries.
In 2019 SXSW brought together more than 275 exhibitors from 25 countries with businesses from all industries and sectors, including health and medtech, marketing, music and film equipment, robotics, aerospace, mobile apps and 3D printing, while 70,000 people from 106 countries attended the four day trade show.
Find out more information on the GBIP and apply to take part now.
Interested firms can also sign up for alerts to be the first to find out when new GBIP opportunities go live.
Pictured: Necia Dorh, CEO at successful GBIP applicant FluoretiQ