Venturefest Yorkshire

Major regional event with overseas focus

The spotlight was on overseas markets at a major business event which took place in the region recently.

Venturefest Yorkshire, held at York Racecourse on Wednesday 7 February, had three main themes, or ‘tracks’, as well as a general exhibition area.

Track three, ‘Global Opportunities and Technological Innovations’ featured several informative speeches and presentations all aimed at business people interested in taking their service or product to an international level.

‘How to sell to and work with global partners’ was one such presentation, delivered by Simon Bedford, UK Trade & Investment’s regional international trade adviser for overseas joint ventures and investment.

Simon spoke of the potential risks and rewards of setting up a joint venture and highlighted the help and information available to businesses in the region.

“I really cannot underestimate the importance of contacting UK Trade & Investment for advice prior to taking any steps towards working with a global partner,” said Simon. “UKTI can assist with many aspects of a joint venture, including carrying out initial market research, helping to identify potential partners and putting companies in touch with similar businesses who have been in the same situation before.”

Ken Hunt OBE, the deputy regional director for UKTI, delivered a presentation entitled ‘Focus on India as a global opportunity’. Ken explained that his role is to work with businesses who want to access the Indian market and gave an overview of India, a country which he said had ‘really come of age over the last five or six years’.

He highlighted some of the key sectors in the Indian market, which included aerospace, business and consumer services, engineering, healthcare and medical equipment, construction and mining, amongst many others.

He also referred to ‘business etiquette’ and the way that doing business in India varies with doing business in the UK, or indeed many other countries.

“There are many international companies in India, which generally operate on international standards,” said Ken. “However, the majority of companies you are likely to be dealing with will be ‘old India’, or family businesses – possibly for example run by three brothers. Everything they do is for the benefit of the family.

“You have to bear this is mind when dealing with them. Their decisions may not make sense to you from a business point of view but they might from a family point of view.”

Other presentations taking place in track three included ‘Intellectual property in the global market’ and ‘Global cultural barriers in the global market’.

Also at Venturefest – which this year attracted more than 2,000 people – five of the region's most innovative businesses scooped more than £60,000 worth of prizes.

Sheffield-based Kirkstall Ltd won the Investment Competition for its ‘electronic rat’ which has been designed for cosmetic and pharmaceutical testing. The prize was a £29,775 package of support including cash, business accommodation and expert advice, to further develop the technology.

The GSPK New Product Award comprising £20,000 worth of business advice, management consultancy and support went to York-based Paraytec for developing a patented miniature scientific instrument, the ActiPix D100. The instrument incorporates the company's detection technology and will be used to test liquid samples for analytical and life sciences applications.

Carolyn Parkinson, of Paraytec CEO, said: "We are absolutely thrilled that the ActiPix detector has been recognised by this prestigious award. We are so proud to have developed this globally significant technology right here in Yorkshire. Throughout the development of the ActiPix, from prototype to production versions, we have benefited greatly from the excellent, high-tech development and manufacturing providers in the region."

Venturefest Yorkshire chairman, Professor Tony Robards OBE said: "Venturefest Yorkshire has fast become a must-attend event for the region's business talent and this year was no exception. Attracting even more visitors, exhibitors and speakers we are already planning further advances for next year – put the 6th February 2008 in your diaries!"