Tech firms encouraged to participate in the West Midlands export initiative
High-growth technology firms in the West Midlands region are being offered an exciting opportunity to participate in a 12-month export support program. The initiative is generously funded by the West Midlands Growth Company (WMGC) and the West Midlands Combined Authority.
The announcement comes at a pivotal moment as WMGC gears up to expand its already successful global growth program. This initiative not only assists West Midlands businesses in becoming export-ready but also provides a comprehensive support package for international companies seeking to expand their operations within the region.
This groundbreaking program is the result of a collaborative partnership with London & Partners, London’s official investment promotion agency. In a historic move, London & Partners’ Grow Global program is extending its reach beyond the capital city for the first time, offering exclusive access to ten ambitious West Midlands scale-up companies.
Selected businesses will enjoy a range of benefits designed to facilitate their international expansion efforts. These benefits include expert guidance and advice in crafting a tailored 12-month internationalization plan aligned with the company’s growth objectives. Moreover, participants will gain access to networking opportunities, attend relevant events, and partake in specialist workshops led by industry experts. They will also receive invitations to targeted international trade missions, allowing them to explore global markets firsthand. Additionally, the program will provide valuable opportunities for partnerships with corporate entities and investors.
Neil Rami, chief executive at WMGC, said: “To date, our global growth programme has proven a resounding success, helping a number of the West Midlands’ high-growth tech firms to get their global export plans off the ground, while also helping international companies to kickstart their growth journey in the region.
“Through this unique partnership with London & Partners, our enhanced global growth programme will enable us to build on these foundations, using our best-in-class expertise to support even more scale-ups with their eyes set on international expansion, or in taking their business to new heights right here in the region.”
Janet Coyle, managing director of Grow London at London & Partners, said: “As the West Midlands is a global leader in investment and emerging technologies, partnering with the West Midlands Growth Company and inviting applications from export-focused scale-ups seemed like a logical step. I am eagerly anticipating the announcement of the 10 selected companies and working alongside them to shape their international growth strategies.”
West Midlands-based companies operating in specific sectors are cordially invited to submit their applications. The eligible sectors include business, professional, and financial services; creative and digital technologies; as well as life sciences and low carbon industries.
To be considered for participation, companies must meet certain criteria. They must qualify as small or medium-sized enterprises (SMEs) with a workforce of 10 or more employees. Additionally, they should boast a minimum turnover (or total equity raised) of £1 million and demonstrate a noteworthy 20 percent year-on-year growth. Eligible companies should also have the capacity to initiate or expand their exports to international markets.
Furthermore, it’s essential that the company’s headquarters and primary UK trading address are situated within one of the following areas: the Black Country, Greater Birmingham and Solihull, or Coventry and Warwickshire.