27 Jun Developing Unique Business Export Program
Nova Scotia Business Inc. (NSBI) is taking the first step in creating a unique business export development program to help Nova Scotia companies tap northeastern U.S. markets.
A tender for proposals issued today, June 27, seeks a consultant to develop a detailed plan to assist with the design, execution, and the monitoring of a pilot program called the NSBI Scale-Up Lab to be based in Cambridge, Massachusetts. The highly innovative economy in Cambridge and the greater Boston area is worth $360 billion and is ranked 12th in the world.
“With this new initiative, government and industry will continue to build on business success and aim for achieving higher levels of growth,” said Geoff MacLellan, Minister of Business. “Driving export growth within the private sector is essential to creating jobs for young Nova Scotians and more opportunities for the middle class.”
This lab is intended to fill a gap in support for Nova Scotia businesses that have achieved stability and want to go further in export development. It will reduce participating companies’ exposure to risks associated with market expansion and facilitate longer-term relationship sales on the ground in Massachusetts.
In the high-growth service sectors, building longer-term relationship sales is the challenge, requiring more frequency and communication than attending a sales event or trade mission.
It is expected the 12-month pilot will begin with a maximum of five Nova Scotia businesses. They must be technology-enabled, high-growth Nova Scotia firms possessing distinct innovation.
“NSBI Scale-Up Lab will provide eligible participating Nova Scotia exporting companies with access to co-working space in Cambridge, Massachusetts,” said Laurel Broten, president and CEO, NSBI. “Our clients will have full access to the dedicated services of an in-market business development professional working on their behalf to drive strategic lead generation and market development activities.”
The deadline for tender submissions for consulting services on pilot project design, execution and monitoring is July 17. Details of the tender are available at http://novascotia.ca/tenders/tenders/ns-tenders.aspx.
The cost estimate for the pilot project is between $272,000 and $285,000.