INTERNATIONAL TRADE
Innovation Day creates valuable collaboration opportunity
lots of competition and every major industry represented. US manufacturers often source components overseas and UK goods have traditionally enjoyed a good reputation for quality in the USA. This market is still the world’s largest importer, with machinery, vehicles, mineral fuels and oils, pharmaceuticals, furniture and plastics all appearing in the top industries importing into the USA. The USA is currently signed up
to 20 Free Trade Agreements (FTAs) and is in negotiations for the Transatlantic Trade and Investment Partnership (T-TIP), an ambitious investment agreement between the USA and the EU. Following the result of the EU referendum, any T-TIP agreement will now exclude the United Kingdom. However, there has been much
talk of a UK trade deal with the USA after Brexit, with visits to the USA by Prime Minister Theresa May to discuss how the ‘special relationship’ between the two countries can evolve in terms of international trade in the future. Key opportunities for East
Midlands businesses in the USA lie in advanced engineering, clean technology, creative and media and energy and power. These sectors have seen significant public and private investment in the USA to make way for new innovations, products and services.
Companies in the East Midlands
are already heavily involved in the research, development and manufacturing of some of the most innovative goods and services in these sectors. This region is home to internationally- recognised centres of energy research and sustainability, for example, which includes the Energy Technologies Research Institute, which specialises in carbon capture and storage, renewable energy, bioenergy and low energy buildings. With new products and technologies continually being developed, there is significant success to be found in the US market for companies in this area. If you are considering the USA
as a new market for your business, both desk research and visits are recommended to better understand the commercial and governmental standards, product safety laws and industry practices. Detailed research will also help determine if there is a genuine market for a product or service, check the pricing is competitive and assess if there is a requirement to localise an offering.
If you would like to find out more about doing business in the USA, please contact Enterprise Europe Network on 0333 320 0333, via
eeninfo@emc-dnl.co.uk or tweet @EEN_Midlands
Enterprise Europe Network (EEN) and Promethean Particles were in the right place at the right time when they attended Innovation Day 2017, Medilink East Midlands’ premier annual event which brings together businesses, clinicians and academics from across the region. Promethean Particles started in 2008 as a spin-out company to
commercialise an innovative manufacturing technology developed at The University of Nottingham. It now possesses full scale manufacturing capabilities and in May 2016 opened the world’s largest continuous multi- material nanoparticle manufacturing plant. EEN offers a fully-funded service to
businesses, helping them to innovate, collaborate and grow internationally. To this end, it facilitates overseas missions to events around the globe, and in November will be taking Midlands organisations to MEDICA 2017 in Germany, the world’s leading medical trade fair, of which limited spaces remain available. Representatives of EEN and
Promethean Particles met when they both attended Innovation Day, as an exhibitor and an awards finalist respectively. The introduction has led to a partnership between the two organisations, with Promethean Particles now set to join EEN on the mission to MEDICA later this year. As well as visiting the trade fair and the 300 exhibitors from around
‘We are looking to meet new Midlands companies from the healthcare industry’
30 countries, Promethean Particles will have the opportunity for pre- arranged business-to-business meetings with potential suppliers, collaborators and customers. By simply having a presence at such a high-profile event, the company will benefit from exposure to over 120,000 trade experts and decision makers. Jan Immel (pictured), International Programmes Manager at EEN,
said: “As we prepare our mission to the MEDICA trade fair we are looking to meet new Midlands companies from the healthcare industry. Exhibiting at Innovation Day was a fantastic way to grow our network in this sector, showcase the services of the Enterprise Europe Network and talk to companies that could benefit from travelling with us on the mission.” This is just one example of a successful collaboration that has resulted
from the Medilink East Midlands Innovation Day and the networking opportunities provided by the many events that Medilink EM hold throughout the year. Medilink EM is committed to ensuring life science organisations in the region get the maximum support available to them, whether it be through funding opportunities, business advice or simply signposting key people in the right direction.
To find out more about Medilink East Midlands and the support available, visit
www.medilinkem.com To find out more about EEN, including the upcoming market visit to MEDICA 2017, please visit
www.enterprise-europe.co.uk
SKILLS BANK FUNDING The Skills Bank is a project of Sheffield City Region’s Local Enterprise Partnership. The Chamber is one of 43 training providers approved to deliver training
courses and qualifications to business that fall within the Sheffield City Region’s borders.
For more information and to check whether your business qualifies for funding, visit
sheffieldcityregionskillsbank.co.uk.
business network September 2017 27
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