Key questions to ask at your Indian Market Advisor meeting

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Enterprise Ireland is playing a key role in supporting ambitious Irish companies seeking opportunities in a range of sectors within India.

If you are considering doing business in India, your first step should be a call with our team in New Delhi.

    The questions below were designed to help Irish businesses get the best out of their first Market Advisor call.

    Our regional Market Advisors work closely with clients to win business in India. Some of the key activities include gathering market intelligence, partner search, introductions to industry influences, pathfinders and third-party service providers, as well as PR and media engagements, organising high-level networking events and facilitating meetings with potential buyers.  

        • What is the size of the market?
        • Who are the leading players/competitors and what is their market share?
        • How does the supply chain/distributions/procurement process of the product/service work in India?
        • What are the leading market trends and consumer behaviour in the sector?
        • Are there any legal requirements for selling the product/service in India? Or any accreditation required from the government bodies?
        • Do I need a local partner?
        • If yes, what is the process of finding a trusted suitable partner in the industry?
        • Do I need to hire local staff?
        • Do I need to make any modifications or changes to the product or service to better suit the Indian market?
        • What are some of the major events/trade shows to attend in the market?
        • Do I need to set up an office in the region? If yes, what is the preferred structure?
        • What is the awareness of Ireland in the region?
        • What kind of obstacles should I expect when entering this market?
        • What taxes, charges or hidden costs should I be aware of?
        • Are there any social/political instabilities in this region that could affect my business here?
        • Are there any environmental instabilities in this region that could affect my business here?
        • What social norms should I be cognizant of when engaging in meetings with local people?

    Set up a call with our Indian team today  and be sure to check out our Going Global Guide 

    Enterprise Ireland’s top tips for entering the German market can be viewed by clicking the graphic below.

    Enterprise Ireland’s top tips for entering the Malaysian market

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    As Brexit plans progress, Irish businesses are exploring export options in sectors across the Eurozone markets, the USA and Canada and the APAC region.

    Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in Malaysia’s IoT, telecoms and fintech sectors.

    If you are considering doing business in Malaysia, please be sure to explore our tips to enter the market below and also be sure to reach out to our dedicated team.

    • When scheduling meetings in Malaysia it is best to do so at least four weeks in advance. Malaysian counterparts will want to know who they will be meeting, and you should provide such details as the titles, positions and responsibilities of all attendees in advance.
    • Due to its predominantly Muslim population, Friday is reserved for prayer and it is advised not to schedule meetings on this day.
    • Schedules are usually loose and flexible and meetings may start late. However, Malaysians generally expect foreign visitors to be punctual.
    • Developing trusting, personal relationships is fundamental to winning long-term business in Malaysia. For this reason, Irish companies must consider setting up a local presence at an early stage or engaging a local partner to manage relationships.
    • Malay-owned companies have historically been given preference in Malaysia by the Government for state contracts. Irish companies may need to consider joint venture structures in some sectors for this reason.
    • If you are planning to do business in Malaysia, it is essential to consult a lawyer. Government restrictions can hamper foreign involvement in several areas, including Government procurement contracts, financial, business and professional services and telecommunications. In most cases, it is imperative to have a local partner, usually a Bumiputera, (a local person) who has the ability to provide locally-based technical support.
    • Kuala Lumpur has the most developed financial sector in the Southeast Asia region, after Singapore. It is known as one of the world’s capitals for Islamic finance. The main opportunity for Irish companies is to deliver efficiencies and add capability to institutions in the form of payments, anti-money laundering, regulatory tech, distributed ledgers and analytics. There is also an opportunity to deliver direct financial services, such as foreign exchange and micro-lending.
    • Malaysia continues to evolve as one of the hubs for medical device manufacturing in the region with over 200 manufacturing companies based in the country. Design and construction projects for high-tech manufacturing facilities for medical instruments and devices is one of the key opportunities for Enterprise Ireland client companies in Malaysia.
    • Malaysia’s telecommunications sector is competitive with the three largest mobile networks operators – Digi, Celcom Axiata and Maxis –holding over 75% of the market. Operators are looking for vendor solutions to strengthen their digital Value Added Services (VAS) suite of services and mobile apps in order to accelerate their transformation as fully-fledged ‘Digital Service’ companies.
    • Over 130 Irish firms are already active in this market thanks to EI assistance, contact the local MA here

    For more be sure to check out our Going Global Guide 

    If you would like to know what to prepare ahead of your first MA call, click the graphic below

    Key questions to ask at your Malaysian Market Advisor meeting

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    As Brexit plans progress, Irish businesses are exploring export options in sectors across the Eurozone markets, the USA and Canada and the APAC region.

    Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in Malaysia’s IoT, telecoms and fintech sectors.

    If you are considering doing business in Malaysia, please be sure to explore our tips to enter the market below and also be sure to reach out to our dedicated team.

    • When scheduling meetings in Malaysia it is best to do so at least four weeks in advance. Malaysian counterparts will want to know who they will be meeting, and you should provide such details as the titles, positions and responsibilities of all attendees in advance.
    • Due to its predominantly Muslim population, Friday is reserved for prayer and it is advised not to schedule meetings on this day.
    • Schedules are usually loose and flexible and meetings may start late. However, Malaysians generally expect foreign visitors to be punctual.
    • Developing trusting, personal relationships is fundamental to winning long-term business in Malaysia. For this reason, Irish companies must consider setting up a local presence at an early stage or engaging a local partner to manage relationships.
    • Malay-owned companies have historically been given preference in Malaysia by the Government for state contracts. Irish companies may need to consider joint venture structures in some sectors for this reason.
    • If you are planning to do business in Malaysia, it is essential to consult a lawyer. Government restrictions can hamper foreign involvement in several areas, including Government procurement contracts, financial, business and professional services and telecommunications. In most cases, it is imperative to have a local partner, usually a Bumiputera, (a local person) who has the ability to provide locally-based technical support.
    • Kuala Lumpur has the most developed financial sector in the Southeast Asia region, after Singapore. It is known as one of the world’s capitals for Islamic finance. The main opportunity for Irish companies is to deliver efficiencies and add capability to institutions in the form of payments, anti-money laundering, regulatory tech, distributed ledgers and analytics. There is also an opportunity to deliver direct financial services, such as foreign exchange and micro-lending.
    • Malaysia continues to evolve as one of the hubs for medical device manufacturing in the region with over 200 manufacturing companies based in the country. Design and construction projects for high-tech manufacturing facilities for medical instruments and devices is one of the key opportunities for Enterprise Ireland client companies in Malaysia.
    • Malaysia’s telecommunications sector is competitive with the three largest mobile networks operators – Digi, Celcom Axiata and Maxis –holding over 75% of the market. Operators are looking for vendor solutions to strengthen their digital Value Added Services (VAS) suite of services and mobile apps in order to accelerate their transformation as fully-fledged ‘Digital Service’ companies.
    • Over 130 Irish firms are already active in this market thanks to EI assistance, contact the local MA here (hyperlink) and make sure you have read our Key Questions to Prepare ahead of your Market Advisor Meeting (hyperlink) sister article

    For more be sure to check out our Going Global Guide 

    If you would like to know what to prepare ahead of your first MA call, click the graphic below

    Paul McCloskey, Tyndall Institute

    LEDLUM, a shining light in LED efficiency  

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    LEDLUM

    “Horizon 2020 was about putting together the right consortium that could do cutting-edge research and also produce something that can be commercialized in the near future.”

    Paul McCloskey, Head of Integrated Magnetics group at Tyndall National Institute

    Key Takeouts:

    • Tyndall Institute played a key role in a recently completed project that aimed to significantly reduce the size and weight of LED drivers while increasing their lifetime expectancy.
    • The ambitious 3.5-year project received €4.1m from the European Union’s Horizon 2020 research and innovation programme.
    • The outcomes included near-market LED driver prototypes with 40% volume and 59% weight reduction, a research prototype with a volume of just 12% of current best in class, and significant advancement in the field of magnetics on silicon.

    H2020 Case Study: LEDLUM

    As the world faces the imminent impact of climate change, there has never been a greater focus on environmental issues nor a greater sense of urgency. While governments debate macro issues, some researchers are looking at small concerns that can have a big impact. One of these is LED drivers.

    LED light bulbs are much more energy efficient and environmentally friendly than traditional bulbs. They can last up to 20 times longer than standard forms of lighting, so fewer bulbs need to be manufactured, they can be up to 80% more energy efficient than conventional bulbs and they contain no toxic elements that require specialist disposal.

    The fly in the ointment, however, is the LED AC/DC converter, known as a driver, which is not only much less reliable than the bulbs themselves but also bulky and difficult to integrate into the light fitting.

    This driver was the focus of LEDLUM, a Horizon 2020-funded project involving seven European partners drawn from business and academia, and over €4 million in EU funding. LEDLUM’s objectives were to make major improvements to the volume, weight, lifetime and size of the driver to create a more environmentally friendly product.

    Among the partners was Tyndall National Institute in County Cork, which brought its expertise in the area of magnetics on silicon to the table. Paul McCloskey, Head of Integrated Magnetics group at the Institute, led the ‘passive components’ work package. He explains how the consortium took a pragmatic approach to achieving the project’s aims.

    “Horizon 2020 projects are a combination of research that pushes the boundaries and the development of something that companies can commercialise.” says McCloskey

    “Within LEDLUM there was initially a little built of tension between those two objectives as the companies in the consortium were more focused on the commercialisation of a product and the universities on pushing the science. So as a consortium we came up with the idea of having two tracks. The development track aimed to get close to something that businesses could use in the near future to create a product, while the research track had a lower level of technology readiness and an emphasis on demonstrating how the challenging goals set might ultimately be achieved. I believe the project delivered on both.”

    LEDLUM’s outcomes included the development of near-market LED driver prototypes with 40% volume and 59% weight reduction, a research prototype with a volume of just 12% of current best in class, and significant advancement in the field of magnetics on silicon.

    “Horizon 2020 is a way of getting involved with companies that will ultimately use the science in a real-world application.” says McCloskey

    “One of the outcomes of this project was the licensing of Tyndall’s magnetics on silicon technology. We’ve developed a capability and reputation in this area over many years. Through LEDLUM we further developed the technology and were able to transfer it to one of the biggest silicon foundries in the world with the production scale up at a facility in Europe. That’s a major achievement for us. That’s tying our research into a real-world product,” says McCloskey.

     

    Competition and support

    Running from 2021 to 2027, Horizon 2020’s successor, Horizon Europe, has a €95 billion funding pot and the triple aim of developing scientific excellence, tackling global and industrial challenges and supporting innovation and inclusivity across Europe. And like Horizon 2020, it is a highly competitive arena.

    “There are a lot of organizations chasing this funding. But Ireland performs above average in terms of winning this type of EU funding and Tyndall is one of the most successful institutes. We’ve been involved in these kinds of projects for many years as our research depends on securing this type of funding,” says McCloskey

    To help research institutes and businesses to secure Horizon Europe funding, Enterprise Ireland regularly gives talks highlighting what Horizon calls are coming up, how to go about getting involved and how to build a consortium. They also fund travel costs associated with building the consortium and offer support to write the proposal.

     

    Advantages of collaboration

    “Horizon 2020, and now Horizon Europe, is about putting together the right consortium that can do cutting-edge research and also produce something that can be commercialized in the near future.

    “That opportunity for collaboration is hugely important. You get the chance to work with other universities and businesses throughout Europe. When you talk to companies you hear what the real-world problems are; understanding that is a terrific insight for a researcher. Overall, I found the LEDLUM project to be an enjoyable and instructive process,” says McCloskey.

    For advice or further information about applying for Horizon Europe support, please contact HorizonSupport@enterprise-ireland.com or consult www.horizoneurope.ie

    H2020 success stories banner link

    Japan

    Irish firms winning big in Japan and Singapore

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    Asia is resolutely open for business for Irish companies. That was the clear lesson learned during Taoiseach Micheál Martin’s visit to Japan and Singapore last month.

     

    While pandemic-related restrictions on tourists remain in some countries, business travellers are welcome to visit these rapidly growing export markets and join the ranks of leading Irish companies successfully winning in the region, such as Kingspan, Morgan McKinley and ICON PLC.

     

    A G7 country and the world’s third largest economy, Japan is home to 125m people, so the market presents significant ongoing opportunities for Irish exporters, says Neil Cooney, Director, Japan, Enterprise Ireland.

     

    “In fact, the recent Enterprise Ireland Annual Business Review for 2021, confirmed that exports from Enterprise Ireland-backed companies to Japan increased to record levels last year,” he says. “They reached an all-time high of €277m, which represented an increase of 11.1 percent on the previous year.“

     

    There are approximately 200 Enterprise Ireland-supported client companies regularly exporting to Japan, with more than 50 local presences established to support their growth in the market and employing up to 2,000 people in Japan.

    Japan seeks green and digital innovation

    Digital transformation is a core focus for Japan, meaning the government and private sector there are keen to discover innovative solutions in this area.

     

    As in so many other markets around the world, sustainability is also high on the agenda there, with digital and data-driven green solutions in high demand. This adds to the opportunities for well-established firms in life sciences, fintech, software, and advanced manufacturing.

     

    The Taoiseach led the Irish delegation on the visit to the region in July and was warmly welcomed by Prime Minister of Japan Fumio Kishida in Tokyo. During the visit, both countries signed a joint declaration on economic collaboration and co-operation, entitled “Taking Forward Partnership with Shared Ambition”.

     

    While in Japan, the Taoiseach hosted roundtables with Enterprise Ireland client companies to recognise significant market milestones and achievements.

    “These included a new office opening in Japan for energy tech firm GridBeyond, a new partnership for infrastructure automation specialists Ubiqube with Japanese firm Alaxala and ICON PLC’s major acquisition in Japan and plans to scale in the market,” says Cooney.

    Singapore an ideal launching pad for Southeast Asia

    From Japan, the Taoiseach travelled to Singapore, where he met Prime Minister of Singapore Lee Hsien Loong and the Deputy Prime Minister and Minister for Finance Lawrence Wong.

     

    Exports to Southeast Asia rose by 8% to €392m in 2021, with Singapore accounting for €116million of that and seeing a rise in exports from Irish companies of 10 percent on the previous year.

     

    “While Singapore is a relatively small island nation of 5m people, English is widely spoken there making it an ideal launching pad for Irish companies to enter the massive trading bloc of Southeast Asia,” says Kevin Ryan, Director, ASEAN, Enterprise Ireland.

     

    This region is home to over 682 million people and includes huge markets such as Indonesia (273m people), Vietnam (97m people) and Thailand (70m people).

     

    “Fintech, regtech, pharma and health tech are key sectors in Singapore, along with high-tech construction, education and food, while agritech is also a huge opportunity as you go further into Southeast Asia,” explains Ryan.

     

    During the visit, nine Irish companies participated in contract signings in Singapore. These included PM Group, which is supporting a first-of-its-kind vaccine plant in Singapore, along with ICDL, Intuition Publishing, Know Your Customer, NUIG, CurrencyFair (Zai), Aero Inspection, Ubiqube and Mackin EHS.

    Understanding local market norms

    To operate in Japan and Southeast Asia, Irish exporters need to expect they will have to operate differently than they may do in other export markets in Europe or North America. They will need to be respectful of local business norms and cultural nuances, for example. The Enterprise Ireland teams on the ground regularly provide local support and advice on this front.

     

    It’s also vital to have sufficient financial resources to commit to the market, win business and be highly responsive to customers. To make any headway, Irish firms typically find they need to set up a direct market presence and hire locally.

     

    This effort pays off, however, for Irish firms that gain traction in the region. At least 300 Irish companies are exporting to Southeast Asia, while about 200 are active in Japan, with 50 or so of those having a local presence.

     

    “For any companies interested in exporting to APAC markets, there’s one key question – are you world class in what you do? Those who can confidently answer that they are should talk to Enterprise Ireland to assess potential opportunities in the region,” says Cooney.

     

    With Enterprise Ireland offices in Tokyo and Singapore, our teams are available to support Irish enterprises to start, scale and grow in the region. Learn more about the opportunities for Irish firms in Japan and Singapore.

    localisation

    Localised websites win European business for Softworks

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    Having invested in an extensive localisation project as part of scaling its business to Germany and Italy, Softworks now sees almost all its Italian market leads and half of its German market leads come through its localised websites for those markets.

    The European single market meant expanding to some Eurozone countries made absolute sense for the Irish workforce management solutions company Softworks.

     

    “From a business strategy perspective, we knew that if we wanted to successfully grow the business, we needed to explore new markets,” says Mairead Walsh, Chief Marketing Officer at Softworks. “Doing business is easy in Europe for Irish companies as there are no barriers, one currency and we have lots in common with our European friends.”

     

    In business since 1990, Softworks caters to clients across multiple industries, including healthcare, manufacturing, retail and the public sector. Having won a large contract in Germany and with a talented Italian employee who wanted to move home, the company narrowed its expansion focus to Germany and Italy.

    Initial support from Enterprise Ireland

    To put structure on its plans, the company applied for Enterprise Ireland’s Market Discovery Fund, which supports companies to undertake market research and develop viable, sustainable market entry strategies.

     

    With this funding, it was able to conduct market research, understand customer needs, review competitors, examine routes to market and identify stakeholders. Local Enterprise Ireland advisors in Germany and Italy also provided support and insights and made valuable local introductions.

    Rapid need for content localisation

    Having hired in-market sales people in those markets, Softworks quickly realised its marketing team would need to develop localised websites to feed leads to the sales team. “There were no in-market events as it was during the pandemic,” recalls Walsh. “Digital was the only way and therefore the most important thing we could do was localise our website.”

     

    Even though Softworks prioritised some content and left other parts to be localised later, it still needed about 20,000 words localised.

     

    “The first challenge is finding someone who can cater to your needs, budget, and timelines,” says Walsh. “Localisation goes beyond simply translating text. You need to adapt your website in a way that takes into account cultural differences as well as language. It also has to be properly set up and optimised for search engine optimisation (SEO) so people can find you.”

     

    Having secured quotes from six companies, Softworks chose Cork-based TWI to handle the localisation project.

    Following best practices for localisation

    Before any localisation project starts, explains Sinead Healy, Director of Language Services at TWI, she and her team take time to understand the customer’s technical web infrastructure and needs. This includes what platform it’s built on, any technical or security restrictions that apply and whether or not the customer wants a whole new website for each country or some localised material on an existing site.

     

    With that stage complete, TWI started the project at Softworks by building a glossary of key industry terminology translating about 20,000 words of Softworks web copy.

     

    At the same time, it worked on localising SEO for Softworks. “You can have a lovely website, but if no one sees it, it’s not serving you,” says Healy. “SEO is crucial to get your site under the noses of the people you want to see it. We take the customer’s initial seed list of keywords for the English market and adapt them for the target market.

    “We’re not just translating them. We really try to speak the language of potential customers in the market. The translation of an English keyword by a free online tool may have no relation to the actual term people are using to search in Germany or Italy.”

    Native speaker review crucial to success

    Once the content was translated and the SEO work complete, TWI supported Softworks with implementing the localised content in its content management system. Before the German and Italian sites went live, they needed to go through a final stage – an in-context review.

     

    “For in-context review, we ask native-speaking translators to go through the website with the eyes of the customer to make sure everything makes sense and is displaying correctly,” explains Healy.

     

    “Typically, we use in-country linguists because language evolves. A translator who is no longer living in the country may not keep up with contemporary usage and the latest industry buzzwords.”

     

    As Softworks already employed native speakers, it opted to call on them to help with the in-context review to help keep costs down. “We were lucky to have local people from Germany and Italy already working for us,” says Walsh. “While TWI did the heavy lifting, our own team ensured that the website made sense from a local perspective.

     

    The TWI project also included training Softworks’ web lead on the basics of maintaining the different language versions of the website, so the German and Italian sites would remain updated.

    A huge volume of leads through localised sites

    Softworks now generates 95% of Italian market leads and 50% of German market leads through its localised websites. “If we hadn’t done this project,” said Walsh, “we would have been sitting there with nothing to offer our sales team.

     

    “We got great advice from Enterprise Ireland on trade shows and publications to target, so now that everything is open again, at least half our leads can be through our website, with the rest coming through other marketing programmes we do.”

     

    “We are also currently localising our website for the Spanish market, so our market expansion journey continues!” she adds.

    Top localisation tips from TWI

    • Know your target audience: Before starting, consider the needs, interests, and values of the target audience. This will help you make informed decisions about the tone, style, and terminology you use.

     

    • Consider cultural differences: Website translation goes beyond language translation. Take into account cultural differences, such as local customs, traditions, and laws, as well as currency display, date formats and payment preferences.

     

    • Maintain consistency: Make sure the terminology, tone, and style used in your translated content reflect+ the language of your target customers. This helps to build a strong brand identity and enhance the user experience.

     

    • Make sure your website is seen: To gain traction on the global stage, your translated website must perform well in local language searches. Choosing the right domain and SEO keywords maximises the visibility of your translated website and boosts your ranking in local search engine results.

     

    • Partner with professional translators: It’s always best to use professional translators who are native speakers. They understand cultural nuances and can accurately convey the meaning and tone of the original content.

    Celebrating half a century in Belgium

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    Established in 1971 as the Irish Trade and Technology Board Belgian department, the Enterprise Ireland office in Brussels is celebrating its fiftieth birthday. And while there have been many changes in the five decades since its opening, one thing has remained constant and that is the level of support and assistance Irish companies continue to receive as they enter and scale the Belgian markets.

    There has long been a strong relationship between the two countries and Richard Engelkes, Interim Manager of Enterprise Ireland Benelux Region, says for Irish companies wanting to expand their portfolio into Europe, Belgium, with its large ports at Antwerp and Zeebrugge, is the gateway.

    “Belgium is Ireland’s second largest trading partner globally (the first being the US), with a total of €17.8 billion in 2020,” says Engelkes.

    “In fact, it goes both ways as imports of Belgian goods to Ireland was €2.4bn in 2020 – so there is a very good bilateral trade agreement between Ireland and Belgium.

    “Equally important for Irish exporters, Belgium is the 4th largest export market in the Eurozone and the 8th largest globally. The EU, in particular the Eurozone, is of great importance to Irish exporters as its proximity, the single market and single currency, a large customer base, supply chain patterns and our longstanding relationship are just some of the reasons why the region is crucial.”

     

    Location is key

    And, according to Engelkes, thanks to its location at the heart of Europe, Belgium, is key.

    “It boasts four ports, three airports, very good rail and road links and water connections, making it a gateway for markets all across the zone – it is also the headquarters of the European Union and NATO,” he says. “So continuing a strong business relationship with Brussels is very important for Irish companies.

    “And despite the difficulties faced by every sector during the pandemic, the world is slowly rebuilding and there are many opportunities for Irish SMEs wanting to enter the market or scale their business in the Benelux countries and beyond. There is already an advantage for Irish companies as their reputation is good, with many firms well established in the pharma and life sciences sectors. There is also a lot of opportunity in the construction sector as well as engineering, precision engineering and packaging. Hydrogen is also a growing opportunity and there is a strong interest in building smart cities with an emphasis on sustainability, so innovative solutions will do well in the region.”

    A reputation for innovation

    The acting regional manager says innovation is something which Irish companies are known for, so this reputation is advantageous to firms who are looking to enter the market. They are also known for being flexible, reliable, and adaptable, qualities respected by Belgian companies.

    “Irish firms have also shown a strong commitment to EU standards and regulations as well as being adept at solving complex technical challenges.” says Engelkes.

    “But I would say that while for the most part, doing business in Belgium is similar to Ireland, the main difference is the language (with French, Dutch and German spoken). So Irish firms doing business here, should be aware that although most Belgians are highly proficient in English, it is advisable not to assume so and to at least attempt to learn a word or two – this will serve as an icebreaker and can be very helpful in building a relationship.”

     

    Enterprise Ireland support

    Irish companies which are already established in Belgium include RKD Architects, PM Group, Combilift, CXV Global PPI Adhesive, and DPS Engineering, to name a few – and the role of the Enterprise Ireland Office in Brussels is to assist companies like this in scaling their business but also to help others enter the market. This could involve market research, consultancy, getting involved with events (live or virtual), introductions and promotions or publicity – so if they have an idea, Richard and his colleagues can help with getting it into newspapers and online.

    “We also work in conjunction with our Enterprise Ireland colleagues in Amsterdam and have strong relationships with the Embassy of Ireland in Belgium, the Embassy of Belgium in Ireland and the trade agency, Flanders Investment and Trade, as well as close cooperation with Belgian ports, such as the Port of Antwerp and Zeebrugge,” he says.  “In addition to this, Enterprise Ireland also supports expansion into the Eurozone with award-winning training courses, which are available to clients.

    “Robert Troy, Minister for Trade Promotion, opened an Enterprise Ireland webinar in March, entitled ‘Belgian/Irish trade:  Maximising Trade Flows in a new European Union’. He also visited Antwerp in May which shows the Irish government’s dedication to fostering strong bilateral trade relations with Belgium.

    “So, after 50 years in Brussels, the future for Irish businesses continues to look bright and we at the Enterprise Ireland office, are looking forward to continuing success for the next 50 years and beyond.”

    Click here to learn more about trading in Belgium or download our Going Global guide.

    Seoul, Korea

    Great opportunities on the Eastern horizon

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    This year marks the 10th anniversary of the EU-South Korea Free Trade Agreement (FTA) which was provisionally in place since 2011 and formally ratified in 2015. And although it is a decade old, Taewon Um, Director of Korea at Enterprise Ireland, says it continues to be beneficial to Irish businesses.

    “As with any free trade agreement, this one aims to further liberalise trade between South Korea and the EU by eliminating or reducing customs duties on industrial goods and agricultural products,” he says. “For example, South Korea’s average tariff rate was 8% but the FTA removed all tariffs on industrial goods heading into South Korea within the first five years of its implementation.

    “Fundamentally, the FTA has made it easier and better for Irish and European businesses trading in South Korea. This means Irish exporters under the FTA won’t need to pay the customs duties, which vary depending on items and products gaining a price advantage or cost benefit.” says Um.

     

    Supporting Irish business

    The Korean market is the fourth largest in Asia, so it has great potential for Irish firms – and the area director says one of his main remits is to help Irish businesses to gain a footing in this market and also to support existing companies in scaling their exports.

    “I provide market research and advisory support to help formulate market entry and scale strategy,” he says. “I also make introductions to Korean buyers and partners and introduce innovative Irish solutions and capabilities to potential Korean partners and stakeholders.

    “Since its onset, the FTA has been very beneficial in making this happen as it also addresses non-trade barriers (NTBs) in key sectors such as pharmaceuticals, medical devices, automotive and more. This makes it easier for businesses to comply with the regulatory elements by recognising the other party’s standards or waiving certain regulatory or certification burdens.

     

    Common traits

    “In fact, a report by Copenhagen Economics finds that the EU-South Korea FTA had already resulted in an increase of €273m or 31% in Irish exports to South Korea in 2015.”

    But the market expert says it is important to note that the agreement doesn’t provide all the intended benefits automatically, so he would advise Irish businesses to attain approved exporter status and analyse how best it can use the FTA to save costs and minimise administrative burdens.

    He says the Irish businesses doing well in the Korean market all seem to have the same ethos.

    “They tend to share certain commonalities in that they are all highly innovative and have industry-leading technologies or solutions which fit the market, have trusted in-market partners, and put resources on the ground to serve customers and partners,” says Um.

    “South Korea has strong ambitions to lead the biopharma industry, and Ireland’s expertise in this sector is widely recognised and highly regarded. Also, Ireland is South Korea’s sixth largest source of medical devices – and as digital health is an area where South Korea wishes to develop, Ireland can add strong value given its strong position and expertise in both this area and in innovative biotech.”

     

    Cross sectoral opportunities

    The digital technology sector is another area where Ireland has strong potential in Korea as AR, VR, IoT-enabled solutions, system chips for sensors, as well as data processing tech, are actively sought after by Korean businesses – and both fintech and RegTech are also presenting good opportunities for Irish firms.

    Looking ahead, agri-machinery and agri-tech seem likely to be areas with strong future potential as the South Korean government has been working to increase agricultural productivity, and Irish Agri-machinery is well recognised and received by consumers in the Asian country. In fact, the government’s push for smart farming is also in line with Ireland’s agri-tech offering.

     

    Irish companies successfully trading

    According to the area director, the Irish companies doing well in Korea at the moment, include Novaerus, Kastus, Ding, InnaLabs and Skillsoft – and he believes that there is an Irish advantage which should be considered in the context of local markets as each market has comparative advantages and disadvantages.

    “Overall, the Irish businesses which are doing well in Korea, invest time and resources and visit their partners and customers regularly,” he advises. “Obviously, travel has been difficult due to Covid-19, but in-person meetings and connections are still very important when it comes to building trust and relationships here. And although there is more acceptance among Korean businesses for initial virtual engagement than there may have been pre-Covid-19, this cannot replace the fundamental importance of in-person interaction.

    “However, going forward, I am hopeful that once the world opens up fully, there will be plenty of opportunities for Irish businesses in Korea.”

     

    Doing Business in South Korea webinar

    Enterprise Ireland aims to boost the number of Irish businesses benefiting from the free trade agreements with these countries and recently hosted a webinar on Doing Business in South Korea.

    The webinar brought together experts on the topic to provide knowledge and insights on key elements of the FTA, and to enable Irish businesses to make use of the FTA to its fullest in doing business in South Korea.

    Register to watch the on-demand Doing Business in South Korea webinar.

    Digital Transformation in Care in the UK

    Digital Transformation in Care – UK webinar

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    Digital Transformation in Care - Webinar

    For Irish companies with growth ambition, the UK remains of vital strategic importance. This panel discussion provided businesses with an update on the latest initiatives and trends regarding digital transformation in the UK social care sector.

    Other topics included what Irish companies should consider to successfully enter and scale in the UK social care market, drawing from the expert insights and experience of our panel.

    Our expert panel included:

    Declan Kelly – CEO, Aspirico

    Daniel Casson – Managing Director, Casson Consulting London Ltd

    Ryan Williams – Director/Founding Shareholder, Connected Health Group Ltd

    Nathan Downing – Head of Advisory Services, TSA

    Nicola Haywood-Alexander – System CIO, NHS Lincolnshire

    The webinar was chaired by Peter Wade, Market Executive – Digital Health, Enterprise Ireland and featured an opening key note address from Minister Robert Troy TD.

    Grian Water – Innovating to Target the Environmental Impact of Food Waste

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    “There is no downside to our technology. It makes so much more sense to treat food waste at source. We wouldn’t have been able to go live and launch our product without the Innovation Voucher Programme from Enterprise Ireland” – Kieran Coffey, CTO, Grian Water Ltd.

    Globally more than a third of all food is wasted – affecting people, planet and profit and leveraging emerging technology is one of the most vital ways to innovate to target food waste and fight climate change.

    For Clonakilty based Kieran Coffey, this issue has been front of mind for many years. A mechanical engineer, he has always been interested in sustainability and the environment and established Grian Water to innovate around the potential of anaerobic digestion as a technology to generate renewable energy, lessen GHG emissions and recover nutrients as well as playing a role in meeting the climate change targets under the Paris agreement. His company developed MyGug, a micro-scale anaerobic digester for the treatment of food waste that turns organic matter into renewable fuel that can be used in homes and small businesses.

    In Ireland, households now produce over 250,000 tonnes of food waste annually which equates to a cost of €700 worth of food being thrown out per house every year. Food waste now contributes to 8% of the world’s GHG emissions and the estimated global cost of this is €1.2 trillion of profit lost every year. This is against a backdrop of about 870 million people in the world going hungry every day.

    “Having worked for many years in waste water, anaerobic digestion was always on my mind. I wanted to find a complete food waste treatment system solution and the idea was to design something on a micro-scale that would integrate into domestic and small business settings and that would operate in all weather and climate conditions,” explains Kieran.

    With the support of the Enterprise Ireland Innovation Voucher Scheme, Grian Water approached Wisar Lab, based at Letterkenny Institute of Technology. The Lab is a wireless and embedded systems group that provides electrical and electronic solutions for established companies and technology start-ups. The company wanted to develop a low-cost micro-controller solution using wireless connectivity and cloud storage to monitor the digester’s performance over time. They developed a cost-efficient printed circuit board collaboratively and have already installed it in domestic and small business settings for longer term testing and to gather overall performance data. “There has been a great reaction, particularly from food businesses that are interested in sustainability and want to reduce their carbon footprint,” says Kieran.

    “People are not aware of the potential energy that they are throwing out with plastics and other types of wastes. Once food waste is mixed you’ve diminished its value. It’s harder to handle. It makes so much more sense to treat it at source whether you are a household or business user.” Grian Water is now working with Wiser Labs on a new Innovation voucher from Enterprise Ireland. They aim to work towards complete sustainability in processes and systems and a complete packaged unit.

    Advising other companies to avail of the Enterprise Ireland Innovation Voucher scheme, Kieran says that “the key thing for me was talking to a key figure in Enterprise Ireland. Find out what you want to improve or achieve with your own product or process. Be clear on your own vision of where you want to go.”

    To take your next step towards Innovation visit Innovation Vouchers.

    Cali Cali

    Flavour of success

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    Tom Gannon and Niall McGrath - Cali Cali

    Niall McGrath of Cali Cali speaks about maintaining his vision for the brand during Covid-19

    The Cali Cali brand is the brainchild of business partners Niall McGrath and Tom Gannon – the duo behind Fulfil bars – and Celebrity Chef Donal Skehan. Inspired by the street food markets of California, the team wanted to develop a range of sauces and crisps that were ‘healthy, tasty and interesting’, taking the melting pot of Californian street flavours back to Europe.

    “We developed Cali Cali back in summer 2018,” says Niall McGrath. “We saw that there were two megatrends happening in California, one was around healthy eating and the other was around street food, so we started thinking about creating a lifestyle brand that brought the flavours of the world together with healthier snacking and eating, and could be distributed within arm’s reach.

    “We were travelling around in the car one day, listening to Biggie Smalls and heard the words, ‘going back to Cali, Cali’, and that’s when the name was born!”

     

    Guilt-free snacking

    The guilt-free snacking brand, which has a recognisable bright orange logo, has already released several innovative treats, including healthy crisps and a range of flavourful sauces. “The sauces are available in the flavours, San Diego peri-peri, Tijuana hot sauce, Frisco hot wing, LA Street Food Sriracha and Baja chipotle salsa.

    “We also had an interesting idea for protein crisps, which we found impossible to get right, but eventually we met our current crisp manufacturer at a trade show and the rest was history. We now have crisps available in Golden State tangy cheese and onion, Tijuana hot sauce, Baja buffalo chipotle and Thai Town sweet chilli. They don’t use preservatives or MSG and use real-food ingredients like chickpea flour, rice flour and beans. They’re also gluten-free.”

    Despite launching the sauces and crisps in September 2019, a few months before the pandemic began in Ireland, Niall says this has not hindered their success.

    “In fact, we have managed to spread our wings,” says Niall. “We had plans to launch into the Middle East in another couple of months, but we decided there was no point in waiting around and moved these plans forward.

    “Now, we’re on track to launch in the UAE in September and on top of that, we’ve just started exporting to the UK.” explains McGrath.

    Niall says Enterprise Ireland has been a big support to the company. “We’ve been working with Enterprise Ireland pretty much since the get-go. They invested in our business in March and this gave us confidence in the value of the business, that it’s something worth investing in.”

    Niall says there were naturally some challenges in the past few weeks, “these challenges were in relation to our crisp sales. Any sales would have been at a convenience store for those on-the-go or city centre convenience stores, so there weren’t as many people picking them up. However, our sauces sold really well in stores across Ireland.

     

    Addressing the impact of Covid-19

    All during lockdown, Niall says the team has been coming up with either new revenue streams, new product developments, new distributions within the Irish market and export opportunities. “And all from our homes!

    “We even launched a new product last week, our Pop-A-Grains, which is a low-calorie, low-carb bread substitute. They’re like large poppadoms!

    “We’ve been very active across social media too and our customers have given us great feedback.”

    Has Niall had to adapt many business processes as a result of Covid-19?

    “We realised that when you get hit with something like this, you just go back to the simple things, and manage your cash really well on a month-to-month basis. Look at new revenue streams and routes to market.

    “The big change for us really was the timelines. Covid shifted the goalposts on a lot of things, but we never once said we would scrap a business plan or come up with a whole new positioning. If the plan is right, just continue to do the right thing. We haven’t changed our vision, our strategy or our range, but the timelines had to move.”

    Looking forward, Niall says he can see a lot of opportunities arising, “What’s important to us is continuing to distinguish Cali Cali as a lifestyle brand that stands up as being healthy, as well as tasting great. We’re aiming to reach multiple different channels in multiple different countries, and I’m excited to see what new opportunities come up.”

    Global Ambition – Industry Insights webinar series

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    Enterprise Ireland will host a series of Global Ambition – Industry Insights sector focused webinars for clients, to deliver market intelligence on the evolving international export opportunities across global markets. The five sector market webinars will focus on:

    • Construction – 15th September, 9:30am – 10:45am

    • Lifesciences – 15th September, 2pm – 3pm

    • Travel Tech – 16th September, 3pm – 4pm

    • Agritech – 17th September, 11am – 12pm

    • Consumer Retail – 17th September, 2pm – 3pm

     

    This webinar series will draw on Enterprise Ireland’s unique insight into key markets for Irish exporters lead by the Market Advisor in that sector and will explore crucial issues such as relationship strategies and the shift in consumer behaviour in the context of Covid-19.

    You can register using this link. You can register for multiple webinars and all registrants will receive a copy of the webinar recording and slides.