The majority of innovative Hungarian businesses have limited knowledge of how they can become truly successful on an international level – the Hungarian Innovation Agency's XPAND Program tries to overcome this challenge.
The XPAND program series will assist small and medium-sized enterprises at various stages of readiness in understanding the international market entry process, its challenges, and the specific considerations they need to focus on in different countries, illustrated through practical examples.
"The primary objective of the Hungarian Innovation Agency is to ensure that innovative businesses and startups achieve success not only domestically but also on international markets. Through NIÜ's latest program, XPAND, we aim to provide more than fifty innovative Hungarian companies considering expansion abroad with the requisite knowledge. Those most prepared among them will have the opportunity to penetrate the most significant global markets by 2024. Our overarching aim is to foster the emergence of as many internationally competitive Hungarian-owned innovative companies as possible. This is pivotal for the growth and competitiveness of the Hungarian economy." emphasized László Bódis, CEO of NIÜ, in connection with the program.
XPAND assists companies through a three-step process. The first step involves a situation assessment, which reveals the current status of applying companies and identifies the tasks necessary for their entry into the international market. In the second step, companies gain specific practical and methodological knowledge. The third step focuses on acquiring knowledge related to specific target markets.
Currently, the program is targeting several international markets with exceptional development and growth potential, including the United States of America, the United Kingdom, Singapore, Germany, China, and Kazakhstan.
"Entering the international market is a bit like innovation itself: it is difficult to grasp, but there are very important characteristics that businesses must master in order to be able to appear in international markets. You have to learn visibility management, you have to be able to tell how and why our company is different, why our product is better, why it is different from what potential customers are currently using and accustomed to. There are countless examples of how, if a company correctly leads itself to the international market, international customers will almost automatically start looking for them. The program consisting of 3 sessions is about how to get to this point efficiently with as little effort as possible." said Imre Hild, CEO of Óbuda Uni Venture Capital, professional supervisor of the XPAND program.
The program starts on April 26. More information and application: https://www.facebook.com/events/1232132747756130
