Added: Jesselyn Routh - Date: 10.01.2022 11:28 - Views: 18133 - Clicks: 6634
Traditional trade mission functions are becoming obsolete. Over hors d'oeuvres, business cards are exchanged, elevator pitches are delivered but, in most cases, entrepreneurs leave with empty promises to stay in touch and no useful contacts. The reasons for business matchmaking have not changed much either. In South Africa, green small and growing businesses are often under-resourced or inexperienced when attempting to access the global assets required to build a competitive advantage. The traditional matchmaking provided through trade missions is not focused at the firm level; there is no trusted intermediary to play the facilitation role, and private consultants are unaffordable.
GreenCape and CTP have launched a cross-border business matchmaking facility that links global companies to local green businesses in South Africa.
By facilitating partnerships and the diffusion of innovative green business models, the project aims to stimulate and catalyze the growth of local and regional green markets. After conducting a first-level due diligence on the local companies identified, the facility provides interested foreign firms with curated lists of potential business matches and proceeds to facilitate connections through events, meetings, seminars, and direct introductions.
For example, in January, the matchmaking facility co-created a trade program for a clean-tech business delegation from Finland. The program offered market insights, provided curated list of local ventures, facilitated partnership opportunities, and organized a tailored industry seminar. Over 80 local stakeholders — including companies and municipalities — attended and over connections were made between Finnish and South African firms.
The so far have been very positive. During its first four months of activity, the facility has assisted more than five clean-tech delegations and 60 green companies.
Three letters of intent between businesses and a formal partnership agreement between an Italian photovoltaic company and a local energy savings firm have been ed. Consequently, the inbound solar PV firm has already ed a Technical Partnership Agreement with one of the matches provided from the cross-border facility.
Published on Private Sector Development Blog. The future of business matchmaking. Share Tweet Share Comment. How a new green business facility in South Africa is connecting local companies to the global green economy Traditional trade mission functions are becoming obsolete. Climate Change. Macroeconomics and Fiscal Management.
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