Applications open for Government-backed global growth programme
A Government-backed incentive package to bolster trade and investment between the West Midlands and global markets has launched today and is now welcoming applications from businesses.
The West Midlands Global Growth Programme, led by the West Midlands Growth Company (WMGC) in collaboration with the Department for International Trade (DIT) has launched an export support competition which will see 25 West Midlands businesses receive fully funded, export-focused business development consultancy for five months.
Aimed at SMEs which are ready to begin or scale exporting to international markets, the competition will be delivered by internationalisation experts OCO Global.
The Global Growth Programme will also facilitate overseas investment into the UK and has been designed to incentivise ambitious businesses to enter the UK market through a tailored package of free support.
Companies will be selected for this accelerator programme to kickstart their international growth, which will be housed at the Innovation Birmingham Campus, part of Bruntwood Sci-Tech.
A selected number of these companies will also receive an additional six-months funded market entry support, as well as dedicated business development consultancy delivered by specialist Entrepreneurs In Residence.
There is also an opportunity for technology companies to take part in the Scale Up Games which will take place in Birmingham at the end of July.
The West Midlands Global Growth Programme is being delivered as part of the Business and Tourism Programme (BATP), an initiative designed to create long-term economic legacy from the Birmingham 2022 Commonwealth Games, bolstering ties between the UK and Commonwealth markets.
Mike Freer, Minister for Exports, said: “This year is a sterling opportunity to seize the profile of the Commonwealth Games in Birmingham to cement the economic relationship between the UK and key overseas markets. The West Midlands was once the cradle of the Industrial Revolution, and today is brimming with innovative businesses that thanks to our Export Strategy will continue to grow and thrive. The Games, and the West Midlands Global Growth Programme, will help thriving enterprises access new markets, boost innovation and seize exciting trading opportunities.”
Neil Rami, chief executive, West Midlands Growth Company, said: “As the UK’s largest regional economy, the West Midlands has so much to offer foreign markets and investors alike. The region has a long-standing reputation as the UK’s automotive capital, and today, is positioned at the vanguard of low carbon solutions. It represents the UK’s fastest growing tech sector and is home to the country’s only large-scale 5G testbed – offering innovative enterprises in particular, an exclusive proving ground for testing emergent technologies. This programme is a unique opportunity to support the international growth of exciting businesses in the region and offer ambitious international businesses access to our cluster of expertise. Applications are now open, and we welcome those who want to take their business to the next level to apply.”
The closing date to apply for the Global Growth Programme export support package is Friday, 4 March 2022.