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Niche sensor technology firm's global expansion from Singapore

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A Swedish technology company that was spun-off from defence research sought strategic growth and would like to gain an understanding of which markets to best focus its efforts on. Business Sweden in Singapore assisted with a structured methodology to assess market potential and ease of entry factors to prioritize markets for a systematic approach. The analyses and influencing in local markets has led to concrete leads and opportunities and the company participated in a tender by a local regulatory authority and are awaiting outcomes while engaged in active dialogue with others.

The technology company was looking to approach its expansion efforts in a systematic way in addition to multilateral engagements that they are already participating actively in. The company approached Business Sweden and the team in Singapore put forth a structured methodology and parameters to analyse both soft and hard factors in assessing the most suitable market with the highest potential returns for the company.

Opening doors to enable access to challenging markets

Globally, a total of 33 countries were screened and a funnel of 13 and finally four countries were derived from the research in close consultation with the company. Despite the niche offering of the company where limited information was available and expertise was kept among a small group of persons within the field, Business Sweden was able to assist with introductions to the relevant decision-makers. 

Apart from strategic research and analysis, the company also received recommendations on potential partners in order to form a consortia, often required in bidding for large projects where complementary offers, technical expertise and competences are required. The company has placed an offer within a government tender in Asia and is engaged in continuous discussion with other stakeholders for a similar initiative, in-line with its targeted growth strategy in high potential markets.