UK Market Entry Competition Sees Australian Companies Honoured for Fast Growth and Business Acumen
(News4us.com) November 23, 2010
Some of Australia’s fastest-growing and most innovative companies were recognised last week with honours in the UK Market Entry Competition (UK-ME).
The competition encourages business growth, exporting and entrepreneurship. It has been developed to identify Australian companies with high-growth potential and give them guidance on how to establish a presence in the UK.
The competition consisted of two main awards: the British Airways UK Expansion Award for companies with annual revenue exceeding $2 million; and the British Airways Entrepreneur Award. The winning companies fought off strong competition to take out their prizes.
The winners were:
British Airways UK Expansion Award:
Rutherford Global Power (NSW)
Lite Industries (Vic)
Noja Power (Qld)
British Airways UK Entrepreneur Award:
Iris Interactive (NSW)
PHM Technology (Vic)
In Business Systems (Qld)
The main prizes included British Airways return airfares to London, accommodation with Marriott hotels, a free company registration with UK Trade and Investment (UKTI), introductions to potential business partners and networks and ongoing UKTI support in Britain.
Jolyon Welsh, Acting British High Commissioner to Australia was impressed by the calibre of the entrants. He said, “We look forward to working with these Australian companies as they expand their businesses into the UK, Europe and the world.
“With the UK economy growing after recession, a very favourable exchange rate for Australian companies and affordable real estate — now is a great time for Aussie companies to expand to the UK.
“Sixty-eight Australian companies expanded their presence in the UK last year and we are expecting many more than that this year,” Mr Welsh said.
Austrade’s UK-based Senior Trade Commissioner, Kym Fullgrabe sat on the judging panel and will be helping the companies with their plans for expansion to the UK. He said, “Britain is a global business centre where decisions are made for investments in the UK but also for Europe, the Middle East, Africa and the rest of the world.
“Austrade is using these natural business linkages – or ‘London Bridges’ as we are calling them – to provide access to global decision-makers for Australian companies and to generate regional business opportunities,” Mr Fullgrabe said.
The competition is backed by UKTI, the British Government’s trade and development arm, with support in Australia from Austrade – a Gold Sponsor of the awards – and state development agencies.
The UK is Australia’s fifth largest two-way trading partner and last year Australia ranked seventh globally for the number of businesses which expanded their presence in the UK.
About the winners
- Rutherford Global Power provides temporary electrical systems for the construction and tunnelling industries.
- Lite Industries is an aluminium design and manufacturing company which makes its own specialised range of products including shoring systems, pallets and tow-trailers.
- Iris Interactive helps bio-pharmaceutical and healthcare companies commercialise new products and bring medicines to patients quickly.
- PHM Technology is a software company that has developed advanced modelling and analysis tools for the design and operation of some of the critical systems that form the backbone of a range of industries from aerospace to oil and gas.
- Noja Power is an exporter of market-leading circuit breakers, which increase the reliability of electricity supply and conform to the latest environmental standards.
- In Business Systems uses a revolutionary new method of connecting the framework for structural steel buildings, eliminating the need for engineers; drafts people, estimators and a manufacturing plant because the steelwork is connected on-site via a unique connecting system, saving both time and money.
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