Conquering global markets is neither a sprint nor a solo race, but is rather akin to running a marathon and it requires the involvement of very different partners at each step in the process. 25 high-tech companies came to present their innovative value proposition to a number of potential investors   during the fourth edition of PwC’s Accelerator's “Local to Global” Expo which was held on Thursday 24 October at LuxExpo. Those innovative companies hail from Europe, Asia, North and South America and can all build on their established success in their domestic markets to set their sights on global expansion.

“The objective of this bi-yearly event is to speed up the process of forging relationships and multiply business opportunities by enabling world-class companies which have created a ground-breaking product or service to have access to investors and multinationals from Europe, the Middle East, Russia and the United States. The building of networks and partnerships must be accelerated in both Luxembourg and the rest of Europe to support the growth of innovative companies,” says Laurent Probst, PwC's Accelerator partner.

Gaining access to valuable partners
Going global is no small feat. Companies need to make themselves known and join the right networks that will support their plans. They also need to find the right partners who will help them develop. The fourth edition of the event connected 25 carefully chosen innovative companies to the ecosystem developed by PwC’s Accelerator. Even before the event started, those companies had already fired the enthusiasm of potential partners. During individual sessions, investors, major companies, political institutions, seasoned entrepreneurs and universities analysed the solutions presented by those businesses to extract new business opportunities. Over 150 meetings took place and dozens of business deals have been initiated between companies which would not have met otherwise.

“Entrepreneurs can’t remain isolated. To grow on global markets, small and medium-sized businesses need to build ties with financial and institutional partners who will be able to help them gain a global reach. Building a network is a prerequisite to conquering international markets and there are many advantages to be had, including fast access to business opportunities, new areas of expertise on a global scale and diversified sources of financing. With the Accelerator, entrepreneurs have access to a new network of partners in whom we already have confidence,” states Laurent Probst.

PwC's Accelerator has built its own global network. For instance, PwC Moscow's Accelerator adopted the PwC Luxembourg methodology and focuses on promising areas such as e commerce, cloud computing and the internet. As the innovation leader in Europe, PwC Sweden has also set up its own accelerator. Last but not least, PwC Singapore opened its own accelerator last April, which is a centre for excellence in information and communication technology. Having made the trip to Luxembourg to share his experience of doing business in Asia, Greg Unsworth – a partner and Technology, Media and Telecommunications Leader at PwC Singapore – was able to see how much PwC's Accelerator had developed. Mr Unsworth reiterated to European SMEs that unmissable development opportunities abounded in Asia and that Singapore – which is home to over 7,000 regional corporate headquarters – was the perfect place to seize those opportunities.

Zoobe, Digipay and Ennesys rewarded for their innovation
The day ended with the Local to Global prize-giving ceremony, where the three most promising projects were rewarded.

The Best Elevator Pitch prize, which goes to the best presentation, was awarded to Zoobe, a German company which has developed a mobile entertainment application. The application turns a voice message into a shareable animated video.

The Most Promising Company award went to Digipay, a Luxembourg company created in 2010. Using Digipay technology, a payment card can be identified by its number and by a sound identifier (double identification).

The “Coup de Cœur” award was given to Ennesys, a French company which has developed a process that transforms wastewater and organic waste into energy by degrading them using microalgae. Treated water can then go into sanitation systems while the refined biomass is used to produce energy. Ennesys was thus able to create a self-sufficient phytoplankton culture system which enables urban areas to meet their energy needs themselves.

The next “Local to Global” Expo will be taking place on 2 April 2014.