European Business Development Update

From the EDC (Nov 23 2010)

1. 

   I am posting this update from Europe, where I am undertaking a business development mission on behalf of the EDC and the region. I attended Medica, the world’s premier medical device trade show, in between visits to Amsterdam and Lyon to meet with companies and site selectors, as well as to develop contacts for future business opportunities for the region and our companies. In total, I will have met with over 20 senior executives (typically C-level) from European companies with varying degrees of interest in the U.S. market, 5-6 site selectors and global location consultants, and numerous economic development, cluster and trade and investment officials from European countries and regions.

    

   The trip has already generated some short term opportunities, which is unusual. A British medical device firm will visit the Knowledge Corridor next month (we partnered with Connecticut colleagues on our Medica lead generation initiative) and a Dutch precision manufacturer with a profile similar to many western Mass manufacturers, will visit us in January. Both have immediate interest in establishing a physical presence in the U.S. Other firms are exploring mid-term (6-18 month) options, some are interested in partnerships or M&A opportunities and some are early stage firms looking to generate sales and distribution channels as a first step in entering the market. The connections to our global economic development colleagues lays the groundwork for future inbound investment, as well as establishes a framework for future trade mission and partnering opportunities for local companies.

    

   If any executive from western Mass wants to explore any of these opportunities for collaboration with European countries, regions or companies, please contact me at 413-755-1300 or at m.graney@westernmassedc.com and I will be glad to assist. I return to the office after Thanksgiving.

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