Examine feasibility of client's expansion to China via Taiwan, develop an effective, financially supported market entry program
About this Solution:
Hygimed is an echo friendly Bio-Medical Waste (BMW) disinfectant machine developed and produced by Maabarot Metal Works. It is designed to be placed in hospitals and medical centers eliminating the need for a costly BMW transport to remote incinerator facilities. When Maabarot decided to examine feasibility of expansion to China via Taiwan they turned to the Export Institute seeking an effective, financially supported, market entry program.
Through the New Market Entry Support Plan, the Israel Export Institute linked Maabarot with Anemone Ventures, an authorized Business Development Partner located in Asia. Anemone Ventures was tasked with implementing the Support Plan in Taiwan and China. Support Plan steps included:
Step 1: Market feasibility assessment including, market potential, competitors landscape, sales channels and products, price recommendations, and suggested adaptations needed for the local market.
Step 2: Search and identification of relevant partners. A thorough search and selection process of relevant distributors who are able to reach the market full potential.
Step 3: Contract and order discussions with selected distributors and partners.
Serving as Maabarot Business Development arm on the ground, and working in collaboration with Maabarot management, Anemone Ventures approached key market segments, including; Government agencies, hospitals and distributors. These efforts led the Environmental Protection Agency (EPA), several local hospitals and potential distributors to realize Hygimed’s clear environmental benefits and its cost saving opportunity over existing solutions.
As a result, a prominent hospital in Taiwan launched advanced discussions to purchase its first Hygimed machine; and a regional medical equipment distributor has confirmed its willingness to become Hygimed official representative in Taiwan and the rest of Asia-Pacific. Throughout the process Maabarot management was involved in all steps of work and arrived to Taiwan to meet with selected partners to finalize and negotiate a contract. Due to Anemone Ventures pre meetings and business development groundwork Maabarot was able to launch concreate business discussions including expansion to China, prices, technical support model and delivery lead times according to the 3rd step of the work process.
Amit Sheleg, Maabarot’s Business Development Manager: “The Exports Institute’s New Market Entry Support Plan is tailor-made to our needs. The plan assisted us both with locating the right Business Development Partner and with actual funding of the initial market study process. I have examined several Business Development Partners recommended by the Institute. Finally we chose Taiwan based Anemone ventures. It is our impression indeed that Anemone Ventures are doing great work for us. We were able to develop excellent relations in both professional and personal levels with Anemone ventures (common language and culture play key role). We have made great progress in short time, and we have met several relevant potential distributors. It is my impression that Anemone Ventures was the right business partner for this task in Taiwan”.
This Solution is most applicable for the following stages and categories:
- Market entry
- Health Devices