The hunt is on for the South West’s brightest sparks: innovative entrepreneurs and businesses with the drive and determination to take their new business ideas to international success.
Launched by GWE Business West, Born Global 2011 offers the chance to win access to a £50,000 prize fund of cash, advice and professional services; plus opportunities to network with leading international business experts, mentors and investment angels.
Entrepreneurs or businesses with a new idea, product or service that is innovative, has global growth potential and the ability to internationalise are invited to apply now via the website: www.born2bglobal.co.uk. The closing date for entries is 17th January 2011.
Born Global 2011 seeks to encourage exports from the South West region and is part funded by the European Regional Development Fund and sponsored by Lloyds TSB, iNets Southwest Environmental, Enterprise Europe Network, Business Link, Proven Communication and Pilot Cottage. The aim is to nurture applicants along the road to export, encouraging them to be ‘Born Global’, generating substantial international sales from the early stages of their business development.
Phil Smith, Managing Director of GWE Business West comments, “Times are tough for us all and uncertainty within the UK business community looks set to continue for some time. But the South West is one of the most creative and resilient regions and Born Global 2011 seeks to encourage and nurture our most innovative entrepreneurs and businesses, giving them the confidence and impetus to look outwards to drive growth through export.
“International trade can fuel profound changes, not just for individual businesses, but also for the whole economy and this has to be a key way for the South West to drive itself out of recession. International trade boosts productivity: exporters account for 60% of the UK’s overall productivity growth; and it drives innovation and R&D. International trade also underpins sound business strategy. Independent research shows firms that export will increase their productivity by more than 34% in the first year alone. And they are 11% more likely to stay in business than companies that only operate domestically.”
Born Global seeks in particular to support products that will have a positive impact on society and contribute to the world’s long-term sustainability. All applicants will be encouraged to consider the environmental impact of their business idea and demonstrate how they plan to operate as sustainably as possible.
Some of the South West’s most successful global businesses have already flocked to endorse the aims of Born Global 2011 including Bristol-based Rob Law, founder and director of Magmatic Ltd. Law is the brainchild behind the unique and instantly recognisable Trunki range of ride-on children’s luggage. His story is a classic David vs Goliath adventure; the struggle against all odds to deliver an innovative product to global markets and the delight in proving so many adversaries wrong along the journey. Just four years after its official launch, Trunki is now distributed in over 60 countries worldwide- a truly Born Global concept!
Law comments, “It is a pleasure to be supporting the Born Global initiative which nurtures one of the UK’s greatest resources: innovation. A cornerstone of good business, it underpins economic growth on both regional and global scales, galvanizing and strengthening industry as a whole.”
Rhydian Pountney, a general manager at global precision engineering company Renishaw plc, is also championing the initiative. Renishaw specialises in metrology, the science of measurement, and since its inception in 1973, the company has grown into a multinational player on the world stage with more than 50 offices in 31 different countries. A significant proportion of the company’s manufacturing is still carried out in the UK and several of the Born Global auditions will take place at the company’s impressive headquarters in Wotton-under-Edge, Gloucestershire.
Pountney comments, “Renishaw was itself ‘born global’, with export markets helping to generate growth in the years immediately following our formation in 1973. Today, exports account for 95% of total sales and a key ingredient of that success has been a long-term commitment to offer high quality local technical and commercial support. We hope that the Renishaw success helps to inspire a new generation of South West businesses.”
How to Enter Born Global
To enter Born Global 2011, interested applicants should email a summary of their business proposition in less than 200 words to GWE Business West, explaining what makes it different and why it has the potential for international growth. Successful applicants will be offered online advice and professional support and invited to audition for a place in the Born Global final in March 2011.
At the auditions, to be held across the South West, candidates will have four minutes to pitch their idea to a panel of business experts. All finalists will then be invited to attend a morning ‘Boot Camp’ to fine-tune their presentation skills before pitching their business proposition on stage to a live audience of international business experts, mentors and investment angels.
Full details about the application process, dates and locations for auditions and how to enter are available on the website www.born2bglobal.co.uk.
