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Expand to the UK - International Small Business Competition

Description: American entrepreneurs can gain a foothold into the European market by participating in the second annual global business planning competition operated by a network of business incubators, and International Business Wales.

The winner of the contest will earn one year of free office space within one of 10 incubators in Wales, strategic counsel on financing, business planning, technical issues, as well as valuable networking opportunities. Judges include Sony Corporation Chairman and CEO Howard Stringer, a Welshman, as well as Gordon Innes, Director of UK Trade & Investment USA, and Geraint Jones, Chief Executive, Americas, International Business Wales.

U.S. entries must be submitted by March 28, 2008, for review by a local judging panel, where a short list of successful applicants will be selected by early April 2008. These companies will then undergo a final round of judging before the American winner is announced in late April 2008.

Wales’ competition is open to companies from the USA, Australia, New Zealand, China, India, Japan, Korea, South Africa and France. In late May 2008, a representative of the winners from each country, including the USA, will be flown to Wales for a week-long “Learning Journey” that will include one-on-one sessions with U.K. legal and business experts.

Finalists will receive introductions to established business networks, direct guidance on developing a U.K. market entry business plan, as well as detailed briefings about European markets. From there, they will present their business plans in front of the final judging panel, which will determine one overall winner.

Detailed information about the competition including submission deadlines, terms and conditions, and background on last year’s winner is available on the our website.

About business incubators.
It is a network of innovation centres in Wales/UK supporting the growth of technology companies offering the optimum environment to enable knowledge-based start-up and spin-out companies to realise their potential. It includes a network of state-of-the-art facilities across Wales served by the latest information technology and fibre optic bandwidth capabilities. Companies are supported by a team of business and technical support staff and have access to laboratory facilities and communal networking areas. Strong partnerships forged between innovation centres and local Centres of Research Excellence provide academic support for research & development projects.

About International Business Wales
International Business Wales is the economic development arm of the Welsh Assembly Government with the responsibility of helping international corporations locate operations in Wales, and with promoting international trade by Welsh businesses. IBW can assist businesses in finding suitable properties in Wales for their operations, help them in finding employees and in obtaining financial assistance from the Welsh government, when appropriate.
Need from others: The competition is open to entries through March 2008. The deadline for submission of entries is 28th March 2008.
The competition program is as follows:

Step 1 - Applicants submit an Executive Summary of their business plan to the in-country representative.

Step 2 - Applicants are informed whether they qualify to enter the competition.

Step 3 - Applicants qualified to enter the competition are asked to prepare a full Business Plan.

For candidates requiring support to develop or improve upon their Business Plans, the following assistance is available:

On-line general guidance on writing a business plan
Comprehensive manual providing detailed guidance on Establishing a European base in Wales.
Telephone and e-mail correspondence with UK-based professional firms.

Candidates will be required to submit their Business Plan for review by the country judging panels by 4th April 2008. Applicants will also be required to make a short presentation on their business concept in person or remotely to the judging panel. This will also take place during April 2008. The objective of the judging panel will be to select one overall winner from each country. Applicants will be informed of the outcome within a maximum of 5 working days in order for the winners to make preparations for the Learning Journey to Wales, which will take place during the week commencing 26th May 2008.
Author: cojycem from United States  Posting reviewed by: 424 users
Country of business: whole world Published on: 24 January 2008
Region of business: any Posting ID: 2530
Business Sector: consulting services Image: Not available
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