P1 Competitive economy
1.3. More exports by the Central Baltic companies to new markets
01.09.2015 - 31.12.2018
€1 215 149
ENDED. The existing e-health and life-science clusters see a clear need for a cross-border meta-cluster to solve common challenges of supporting expansion of their innovative companies. The project CB HealthAccess focuses on supporting health technology companies to enter into new distant markets in South Korea, US, India and Uganda with their products.
The project activities include gathering market information (legal setup, rules for health products, financial schemes in health, competition, technological environment, partnerships, etc.), adaption of products, marketing and sales activities, involvement of experts from the target market, business missions, 121 meetings, negotiations and closing of sales. The aim is to establish a lasting relation to the target markets to guarantee smoother access for new innovative health technology companies from the clusters.
The project aims at minimum of three new sales by a company of a participating cluster in each of the four target markets, i.e. 12 new sales in these distant markets. Half of these will be achieved during the project duration and the other half within one year after the end of the CB Health Access project.
SA Tallinna Teaduspark Tehnopol
Partner budget: 261.831 EUR
Amount of ERDF funding: 222.557 EUR ERDF
Tartu Biotehnoloogia Park OÜ
Partner budget: 146.536 EUR
Amount of ERDF funding: 124.555 EUR ERDF
Turku Science Park Oy
Partner budget: 354.370 EUR
Amount of ERDF funding: 265.778 EUR ERDF
Partner budget: 348.741 EUR
Amount of ERDF funding: 261.556 EUR ERDF
Partner budget: 19.026 EUR
Amount of ERDF funding: 16.172 EUR ERDF
Partner budget: 84.645 EUR
Amount of ERDF funding: 63.484 EUR ERDF
CB HealthAccess - Export of products within the Health and Wellness sector
The project “Access to Distant Markets in Health and Wellness” (CB HealthAccess) has helped a number of SMEs from the CB region, within the health technology sector, to achieve sales, raise investments, and to close different type of collaboration agreements in four distant markets; South Korea, the United States, India and Uganda.
In total 58 individual companies in the health technology sector from Estonia, Finland, Latvia and Sweden participated in the project. Some of the companies were active in more than one market during the project. The participation in the different markets was allocated as follows:
In the South Korean market activities; 25 companies were involved.
In the US market activities; 22 companies were involved.
In the Indian market activities; 12 companies were involved.
In the Ugandan market activities; 10 companies were involved.
Direct results within the project period, in short: 5 sales were achieved, 4 investments were raised, and 1 agreement with a business partner was signed.
Indirect results within the project period, in short: 3 preliminary agreements for co-operation were signed, 1 contract was closed, 2 cooperation projects were started, 1 test marketing was started, 1 study in a hospital was started.
In addition, in the end of the project many companies were still in negotiations or working on meeting local regulations in order to continue their access to the markets.
On a more general level the project has raised awareness of, and interest in, distant markets. As the market of health technologies is global, the companies need to expose themselves and their products to international competition and consumers in other countries in order to be able to develop more competitive products and market adaptations.
- 58 individual companies in the health technology sector participated in the project activities in the South Korean, the US, the Indian and the Ugandan market. Some of the companies were active in more than one market during the project.
- 5 direct sales within the project period were achieved, 4 investments were raised, and 1 agreement with a business partner was signed.
- Indirect results within the project period: 3 preliminary agreements for co-operation were signed, 1 contract was closed, 2 cooperation projects were started, 1 test marketing was started, 1 study in a hospital was started.