One of the main objectives of the Hungarian Innovation Agency is to support the international market expansion of innovative projects and companies, and to transfer the world-class knowledge that underpins them.
WHY INTERNATIONAL MARKET ACCESS IS IMPORTANT?
Given the size of the domestic market, in most industries, significant investment and rapid growth can only be achieved by entering the international market. By expanding globally, companies are able to exploit the unique opportunities and resources offered by different markets, such as lower labour costs or new technological innovations. At the level of the national economy, the investments attracted by start-ups can also be significant, because they are almost entirely in knowledge-based activities, in particular research and development (R&D). Their spillover effect can also be dynamic for the whole innovation ecosystem, as is the case in Estonia, Israel and increasingly in Central Europe.
HOW DOES XPAND HELP INNOVATIVE BUSINESSES?
Start-ups (scaleups) and innovative small and medium-sized enterprises (SMEs) can benefit enormously from shortening the time and cost of their international market entry. The NIÜ's foreign market preparation programme provides a multi-level framework for this, as well as facilitating exposure at innovation trade events abroad, and developing tailored programmes and mentoring with target market support organisations to help match target market specialities and get first customers.
Through its XPAND programme, the NIÜ focuses on helping innovative Hungarian companies to enter international markets through tailored training and strategic initiatives.
The primary objective is to promote the successful presence of innovative Hungarian companies on foreign markets and to increase their visibility and competitiveness. This includes the provision of comprehensive support and resources, including coaching, networking opportunities and assistance in partner search and meetings.
THE STRUCTURE OF XPAND PROGRAMME
Companies applying for the programme and their staff go through a strict selection process. Prior to their start, participants receive practical training tailored to their level of readiness, including interactive training for beginner (Ready), advanced (Steady) and targeted market (Go). The first two parts will build on the interactive training of leading national innovation and foreign market experts, while the third part will be delivered by experts in the target market. The coaching, individualised consultation and mentoring throughout the process ensure that companies are equipped with the right expectations, strategy, knowledge, and tools to maximise their success in their first steps in international markets.
The Ready, for beginners' training, aims at assessing the current export maturity level of the company and the entrepreneur, as well as basic knowledge of international markets: introduction to the international innovation ecosystem, steps that can be taken without a foreign presence and with a low budget (correct international market research methods, tools, analysis of primary and secondary sources, value chain analysis, competitor research, (online) customer/consumer needs assessment, etc.). It also includes communication tools to increase the international attractiveness and visibility of the company and accelerate its development.
Steady training, which builds on Ready, is designed to determine the timeliness of market entry, to prepare for it and to demonstrate the market entry process. Participants will learn about a range of market entry strategies through 20 concrete examples. By exploring further methods, software and entry points, each business can choose and apply the most appropriate one. The topics will also cover the phases of international market entry, presenting different platforms and improving networking skills.
Once candidates have successfully completed our beginner and advanced preparation programmes, they are ready to equip themselves with everything they need to effectively enter the market in the target country. During our target market Go trainings, participants will gain insights into the specific characteristics of the business world of the target countries in this year's plans of the NIÜ: USA, UK, China, Singapore, Kazakhstan, Germany. They will learn what and how to succeed in these usually competitive markets with different cultures. As an introduction, they will be informed about the region and the economic and legal structure of the destination country.
The programme, compiled by our local experts, provides detailed guidance on the steps to take to network effectively, connect with investors and business partners. We help you to build a more effective toolkit for market entry, according to the customs and business culture of the market. They can learn about industry trends in their target market, so they can find out whether there is demand for their product in their target market and what is needed to make it happen.
Through the Alumni Group, which is made up of companies that have participated in the training, we aim to strengthen the transfer of further first-hand experience to innovative businesses interested in foreign markets. Longer-term contact with participants will provide an opportunity to measure results and continuous improvement. Once the preparation process is completed, companies meeting the strict criteria will have the opportunity to participate in events, business meetings and other professional programmes in their preferred target markets, with the help and support of the Hungarian Innovation Agency.
The most ambitious and internationally mature innovative companies will get the opportunity to participate in longer programmes of incubators and launchpads in the target market.These providers will be competitively selected by based on their past performance and references.
The programmes include activities to stimulate market demand for Hungarian technology solutions and to support the establishment of business contacts.
NIÜ funds a variable proportion of the cost of the programmes, but in all cases, applicants must contribute.
