Break into new international business markets and adjacent sectors to grow and scale with help from our connections, expertise and targeted global programmes.
Any innovative business that is ambitious to progress on its growth journey towards scale must find new markets. Alongside exploiting innovation effectively and attracting investment, entering new markets is one of the key areas that our specialist-led bespoke support may focus on with you.
At the outset of an engagement, our specialists can help you do the groundwork to identify new market opportunities and the best geographic markets for your innovative products or services and consider important factors such as your competitive advantage. These steps are necessary before launching any global business expansion.
Business networks, programmes, brokerage events and partnerships tool
We offer innovation-driven businesses several ways to build their knowledge of and presence in key global markets, including through developing R&D and innovation collaborations and partnerships and helping to find potential end users or customers.
The world’s largest business network
Our specialists provide access to comprehensive and tailored advice covering both the UK and international markets. They build on a heritage of collaboration with the Enterprise Europe Network, the most extensive association of innovation and growth support organisations around the world. This advice ranges from sourcing and establishing connections with new collaborators and potential partners, to information on local regulations.
Innovation and business growth programmes
Specially designed initiatives, supported by our specialists, help you to learn about specific international markets in person and build business relationships there, for example, the Global Business Innovation Programme and Global Incubator Programme. We can also help you access international funding opportunities such as Horizon Europe and Eureka Eurostars as well as other international programmes run by Innovate UK.
Our focused brokerage events can also help you to find new international business opportunities and provide the essential information you need on markets and sectors.
Live global partnering opportunities
Finally, our international business partnerships tool and connections to overseas specialist advisers allows you to forge business partnerships that cross borders and take your business to new stages of growth.
Grow your business with access to new markets
In order to accelerate your growth, you may need to identify new market opportunities for your goods and services. Breaking into new markets requires market strategy, knowledge and connections for long-term success. Our specialists can help you to understand potential markets, analyse the opportunity and identify your competitive advantage.
Choosing the best target market for your innovation requires market segmentation. If your business sells products, think about the value, accessibility and growth potential of this product for your customer base.
As you grow, you may outsize your home market and need to look further afield for new opportunities. Our global programmes, brokerage events and advisors can provide you with the information, advice and connections needed for global market expansion.
How to enter a new market
Find more advice and support for breaking into new markets, at home and overseas.
Entering UK markets
Northern Ireland or UK-based businesses looking to expand into new domestic markets can benefit from support in finding new opportunities for their innovations. Whether it’s adapting your current offering for a different industry or adding new products to your portfolio - our specialists can help you to adapt, pivot and grow in new markets.
Entering international markets
If you’re looking to enter a foreign market, collaboration is key. Taking advantage of networking events and the experience of our advisors can help you to make valuable connections, gain knowledge of the market and accelerate your growth journey.
What to consider when entering a new market
Innovation businesses entering new markets should consider a wide range of factors before they expand.
Factors to consider before entering a new market:
- Is your market research sufficient? This should include competitor analysis, consumer research and market potential evaluation
- Have you undertaken full market analysis to ensure you're offering your product or service to the right audience?
- Do you need to adapt your product or service to fit the new market?
- Have you considered cultural differences in consumer behaviour and preference?
- What external factors may be a barrier to market entry?
- Do you have an understanding of local regulations, standards and laws?
- Have you explored all distribution channel options?
- Do you need to adapt your pricing strategy?
- Do you need to develop your marketing strategy?
- Do you have a detailed business model and plan in place?
- Do you have appropriate funding and finance?
- Do you require partners or collaborators to support your growth?
- What are your business goals and will entering the new market help you to achieve them? Whether it’s increased revenue or finding new consumer markets - ensure your move into new markets is goal-oriented
What our clients say about us
I recommend Innovate UK EDGE to any innovation-driven growth business Our dedicated specialist has made a decisive contribution to our success.