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- Status: Open
- Key features: Investment of up to £25,000 (excluding VAT) for four businesses to develop digital innovations that can be applied in the fashion industry.
- Programme: IC tomorrow
- Award: Up to £25,000
- Opens: 07 May 2013
- Registration closes: No deadline
- Closes: 12 Jun 2013
£120,000* to encourage digital innovation in fashion and retail
- two awards of up to £25,000* each for the development of a prototype service or application in the design category
- one award of up to £25,000* for the development of a prototype service or application in the retail category
- one award of up to £25,000* for the development of a prototype service or application in the media category.
- gain from exposure to a range of fashion industry partners
- be able to test their proposed application, product or service with a relevant industry partner
- be able to promote their solution via the IC tomorrow programme
- receive support in resolving delivery issues related to the proposed application or service.
Register and apply
- Register and apply at: https://connect.innovateuk.org/web/digitalinnovation-contest-fashion
- Deadline for submissions: Noon, Wednesday 12 June 2013
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How to succeed without burning yourself out?
How to keep yourself motivated when things get difficult and there’s only you to make it happen?
How to build a flexible and sustainable business?
Join Pinkvox for an exciting evening on : Collaboration for Success. At the Old Bank of England, Wednesday, 12 June 2013 from 18:00 to 20:00 (GMT).
This month we welcome Joysy John, Cofounder and CEO of Founders Fit, an initiative to help people find the right cofounders based on interests, skills and stage of venture.
Webinar series to run throughout 2013.
With over 20 consecutive years of growth, an exchange rate that makes British products and services very affordable and a society and culture very similar to the UK – Australia is an excellent export destination for many UK companies.
Australia is the only nation to rank in the top five of the world’s most resilient economies since 2008 and its real GDP growth is expected to outperform that of every other major advanced economy up to 2017. Australia is also conveniently located next to many of Asia’s highest growth economies and has a network of free trade agreements with Asian nations, as well as many native Asian language speakers resident in Australia.
UK Trade & Investment’s team across Australia will be holding a series of webinars throughout the year to tell British businesses how to capitalise on the massive opportunities here.
Details on the May-July series can be found here, further webinars will follow throughout the year.
- Doing Business Guide
- Sector Reports
- FCO Country Updates
- Overseas Security Information for Business (OSIB)
What are the Opportunities?
The U.S. economy is integrated and largely self-contained, with every major industry represented. U.S. manufacturers often source components overseas and UK goods have traditionally enjoyed a good reputation for quality in the United States.
Key sectors in the United States identified by UK Trade & Investment include:
- Advanced Engineering
- Clean Technology
- Creative and Media
- Energy and Power
- Financial and Professional Services
- Homeland Security
- Life Sciences
Guide to Doing Business in United States
UKTI has produced a guide aimed at companies experienced in overseas trade who are new to doing business with United States. This guide aims to provide a route map of the way ahead, together with signposts to sources of help.
- Preparing to Export
- How to do Business
- What are the challenges
- Business Etiquette
- How to invest in United States
Download the United States Doing Business Guide
For information on your sector in United States including characteristics of the market, opportunities and key contacts, please check out the latest sector reports.
To view the article and to see what other information UKTI can provide click here.
EXPANDING YOUR COMPANY ABROAD
Many entrepreneurs have identified international expansion as a critical component of their overall growth strategy. The economic interdependence created by a truly integrated international financial system and the advent of strong regional associations such as the European Union, have also contributed to the need for companies of all sizes, in virtually every type of industry, to be thinking in terms of global business. Business growth strategies need to be built around a global vision where quality, pricing, service, distribution, etc. must be globally competitive but also be custom-tailored to meet local requirements and market conditions.
As worldwide brands become more dominant and domestic resources dwindle, more UK businesses will have to start expanding overseas. But expanding abroad does not only have to be about necessity – it’s also an exciting opportunity for rapid growth and development.
Understandably, many business owners are hesitant, however, the best business owners haven’t achieved success without taking risks. British businesses shouldn’t shy away from broadening their horizons.
Based on the Grant Thornton’s 2010 report, useful tips to expanding your business abroad are:
• Market Insights (research the target market)
• Make use of government resources (UKTI, British embassies and consulates, European bodies like European Entrepreneurs Networks, or projects like Make it Global)
• Find relevant support organisations (in the target market, like Galician Confederation of Employers for the Northwest Spanish market)
• Seek professional advice
• Set up good aftercare (Think carefully about how you will manage the business after agreements are signed)
• Stick to what you are good at (If you aren’t a foreign exchange dealer, talk with your bankers about your overseas investment or trading plans. Foreign exchange volatility is a fact of business life, and a risk that needs careful managing)
• Check your tax position (Depending on the jurisdictions, you may find you can’t get tax relief for losses on foreign exchange, or you may be taxed on gains which you won’t have recognized)
• Banking facilities (If you are trading overseas, consult your bankers about what facilities might be available)
EXPANDING YOUR COMPANY TO GALICIA, THE SECRET FROM NORTHERN SPAIN
Galicia is situated in the northwest of Spain, bordering with Portugal to the south. It has a population of nearly 3 million being its capital Santiago de Compostela. A Corunna and Vigo are the main cities. Galician and Spanish are the official languages. The affinity between Galician and Portuguese facilitates communication with the Portuguese speaking community, which means more than 200 million people worldwide.
Galicia is essentially linked to the sea and occupies a privileged maritime position in the main maritime routes between America, Europe and Asia. It has 2 new outer ports: Ferrol, which is already in service and offers a logistics opportunity for large-scale international container vessel companies, and A Corunna, destined to be a major port and industrial center. Vigo is one of the duty-free zones of the three existing in Spain, and the only one sited in the Northwest of the country. The varied coastline extends for some 1.498 km with 127 ports along its coastline and comprises a unique combination of open seas and sheltered harbors.
The key sectors of the economy are:
• Textiles and Fashion (The headquarters of worldwide textile empire Inditex is sited in Galicia. Also, other worldwide known companies are stablished there such as Adolfo Dominguez or Bimba y Lola)
• Biotechnology (a sector with a particular highly qualified workforce)
• Food and Agriculture
• Fishing and Fish Farming with a strong international canning industry,
• The extraction and transformation of no metallic minerals (granite, slate, quartz)
• Energy Sector (wind power. Hydroelectric and thermal stations)
• Forestry and Timber
• Automobile and components (PSA Peugeot Citroën plant located in Vigo is the fourth most productive in Europe by the German consultancy firm World Markets Automotive)
• Logistics (thanks to the strategic maritime position to transport of merchandise)
• Ship Building (including military, civil and pleasure craft building)
• Leisure and Tourism (St James´ way, cultural tourism)
Since 2007 Galicia has been catalogued as Convergence Region within the EU. It provides one of the best opportunities for financial support for investment offered by the EU.
Many national and foreign companies have chosen Galicia as a location for investment. The Galician Institute for Economic Promotion (IGAPE) is the public entity in charge of foreign investment through its department Galicia Invest. It provides individualized attention and follow-up services for each new project, maximum support and funding for investment.
The website www.investingalicia.com offers accurate and complete information about the existing support and incentives. Galicia Invest and the UK office located in Trafalgar Square, (London) will welcome all potential new investors interested in this great location. Contact Montserrat Rodriguez at firstname.lastname@example.org or by calling to 020 7484 8624.
Introduction to DTCM
The Government of Dubai, Department of Tourism and Commerce Marketing (DTCM) was established in 1997. The main responsibility of the department is the promotion of Dubai’s commerce and tourism interests overseas. This is achieved through an integrated programme of worldwide events and activities. Some of these include: providing information to potential investors, public relations activities and advertising, participating in exhibitions, events and road shows, facilitating meetings with businesses in Dubai, visiting chambers of commerce, providing presentations, and taking trade missions to Dubai.
The commerce team at the DTCM aims to raise awareness of the potential business opportunities, and to provide knowledge and expertise on setting up business and trade for companies looking to expand or start new business ventures in Dubai.
Dubai is an attractive business destination because it enjoys a strategic location at the crossroads of Europe, Asia and Africa, and it offers many business opportunities. Dubai’s successful economic story is attributed to its highly developed and modern infrastructure, a comprehensive selection of free zones, tax benefits, and modern facilities offered by business centres and the exciting attractions of a tourist destination.
DTCM is planning to host a series of Business Seminars, with the objective of driving investment, manufacturing and trade into Dubai. DTCM wishes to achieve this objective by briefing and informing potential investors of the opportunities awaiting them. DTCM would like to target businesses that have no or little knowledge of Dubai and educate them by introducing them to a new experience and assisting them in expanding their businesses abroad. This would be beneficial for both the British and the Dubai economy.
For further information please do not hesitate to contact:
Marketing Manager – Commerce
Government of Dubai
Department of Tourism and Commerce Marketing
Tel. +44 (0)20 7321 6110
Fax: +44 (0)20 7321 6111
5 Tips for Doing Business
1. Where you are operating in India can make a big difference – Gujarat is widely seen as business friendly.
2. Extended family links in many companies mean you may not be talking to the ‘real’ head of the company. So informal channels for contacts with the real movers and shakers are very important: weddings, professional networks, clubs, ‘venues’.
3. Start and end the day late. Indian breakfast meetings can start at 10am and evening meetings might not start until 9pm. Hours are long and weekends are for working too. Watch out for religious holidays.
4. Expect your meeting to be interrupted. Indians multi-task, so your presentation may be interrupted by other visitors, phone calls, papers to sign and other discussions. Mobiles are rarely switched off.
5. Lakhs and crores in the Indian numbering system are used widely. A lakh is 100,000 (written 1,00,000) and one crore (written 1,00,00,000) is 10,000,000. One crore equals = 100 lakhs.
SABE TIBBITTS – Kernel Consulting Ltd
+44 (0)20 7278 8689 / +44 (0)7867 606860
Till then check out what UKTI have to offer for the week here.
Seeking the most promising high-growth women-led companies from around the world to present on stage in London, UK on June 27th in front of an audience of preeminent venture capitalists and global investors. Compete for cash prizes, global visbility, and unequaled promotion, and networking opportunities. The top 5 applicants will be invited to pitch in front of an international audience at the Fourth Annual We Own It Summit. The top 20 finalists will be invited to attend the summit, participate in discussion salons lead by prominent players in the funding and entrepreneurship space, and network with investors and industry experts.
Application deadline: May 15, 2013
- An innovative product or offering in a high-growth sector such as Technology, Life Science, Clean Tech, or, in certain circumstances, high-growth Consumer products or services
- A high-growth investment opportunity – at any stage of growth
- An exceptional team, product, and business strategy
- A significant market opportunity with initial customer traction or feedback
- A defendable competitive advantage
- At least one woman in a leadership role (at C level) or in significant position of equity or influence
UK Trade & Investment (UKTI) works with UK-based businesses to ensure their success in international markets, and encourage the best overseas companies to look to the UK as their global partner of choice.
UKTI has professional advisers both within the UK and across more than 100 international markets.
UKTI has a customer commitment to helping its UK and international customers by providing a range of services, to a high standard and improve customer service by listening to customer feedback.
We also have a co-ordination role across government to establish a more systematic approach to relationships with companies which are the most economically significant investors and exporters.
6th – 7th June 2013
Going Global is the top UK national exhibition for businesses that are looking to expand internationally. If you own or manage an SME, this event is an unmissable opportunity for you to network and gain information or assistance in exporting your products or setting up overseas operations – particularly in Europe and the BRICS (Brazil, Russia, India, China and South Africa) markets.
Some of the top minds in international business will be at the event, with whom you can gain and share invaluable insight and education within a live and highly-interactive environment. Put simply, Going Global is unmissable in order for your brand and business to seize the global business opportunities out there.
Even better, this is your opportunity to visit or exhibit at the very first Going Global expo. The show takes place on 6-7 June at the ExCeL exhibition centre in London. It is estimated that ExCeL will host 30,000 business visitors over the two days including CEOs, managing directors and other key business decision-makers.
Of course, no global business exhibition would be complete without the support of leading international organisations. Our global partners include: the Brazilian Chamber of Commerce in Britain: the Russo-British Chamber of Commerce, UK; the India Business Council; the China-British Business Council; and the South African Chamber of Commerce.
For further information and to register click here.
Read the full article in the Enterprise East London here.