New Partnering opportunities for fledgling small to medium enterprises

Here is a service that can help small to medium enterprises (SMEs) to be ‘global from day one’.
The development of internet technology over the past decade has fundamentally changed the way businesses develop and compete in world markets. New technology has allowed an extraordinary increase in the productive capacity of the individual, resulting in more effective, competitive and smaller companies. At the same time, there has been substantial growth in knowledge based, service-oriented businesses that are small to medium enterprises (SMEs). In the UK, these companies account for one-third of the Gross Domestic Product.

To expand rapidly into the global marketplace, these companies require a different approach to their larger, competitors. As they lack resources for a takeover or direct foreign investment, knowledge based SMEs are increasingly looking to collaboration, partnering, and alliance building with companies in their target markets.

Global program

To meet the needs of SMEs in this global marketplace, the South East England Development Agency (SEEDA) has established a global program that aims to build new international relationships and move beyond the one-way, inward investment approaches traditionally favoured by economic development agencies.

Instead, SEEDA is focused on establishing business driven networks (enterprise hubs) within its region to support both its own aspiring enterprises and those from other regions of the world.

Under the global regions program, effective international business, academic, government, and technology driven networks will be established in 15 of the world’s leading regional economies within the major markets of the world.

This program is based on the reality that, with global outsourcing of commodity manufacturing to low cost areas, companies that are in knowledge intensive fields and based in regions that are more expensive will gain a competitive advantage through collaboration and technology partnering. By transacting through networks and operating through clusters, smaller enterprises are establishing partnerships, entering into joint ventures, licensing their property rights, and creating ‘fit for purpose’ alliances.

Although the global regions initiative is at an early stage, there are 13 hubs up and running and a further seven approved or in development. The primary purpose of SEEDA’s support for the hubs is to accelerate the number of startups that will add high value to economic activity

The participating global regions are Sydney/NSW, South East England, Southern California, Greater Washington, Massachusetts, Toronto, Ottawa, Kanagawa (Tokyo), Osaka (Kansai), Geyonggi Province (Seoul), Singapore, Shanghai, North Rhein – Westphalia (Dusseldorf), Stockholm, and Helsinki.

In Australia, initial focus is on NSW as a starting point, in partnership with the Department of State and Regional Development and other State agencies. However, SEEDA will assist any Australian company that wishes to access its services to find a partner in South East England or another participating region.
SEEDA can also assist companies that wish to establish their own presence in the UK/EU market.

Global incubator partnering program

SEEDA’s partnering program aims to build an international network through which hubs and their client companies can make the connections they need to fulfil their potential in the global marketplace.

A number of initiatives are proposed:

• collaborative projects between incubators to develop international solutions to problems faced by client companies, such as securing worldwide intellectual property protection or finance for cross-border activities
• exchange programs that help emerging companies locate a team in a partner region’s incubator to gain better access to that region’s market, improve understanding of local regulatory issues, or develop liaisons with potential outsourcing partners
• international internships for students who are backed by a mentor from their home university to deliver an international project and build connections
• mentoring networks to share information about mentors, mostly entrepreneurs with experience in growing a business within a global marketplace and who can work across borders and give specialist advice
• information networking opportunities that include international sector-based events, supply chain programs, and peer-to-peer networking using the internet
• shared training and development for hub directors and incubator managers that draw on global best practice and provide networking opportunities

For more information on how SEEDA can help your company, contact Peter Burns in Sydney. SEEDA is a UK Government agency and there is no charge for services.
Tel: 02 8962 2999 Fax 02 8962 2929 Peterburns@seeda.co.uk
 

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