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Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen,

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Presentation on theme: "Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen,"— Presentation transcript:

1 “Conquering foreign markets - the German and the Scandinavian Medtech Markets"
Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen, In2LifeScience Consultant Partner SØRENSEN – Connecting Markets

2 Agenda 20th June 2013 Short presentation SØRENSEN – Connecting Markets
Introduction: Lower Saxony as a gateway to Germany Lower Saxony a strong Life Science location Introduction: Denmark as a gateway to Scandinavia Medicon Valley – a top medtech region Practical guidelines to successful internationalization Practical cases Questions/ Discussion

3 Connecting Markets GmbH
1. Short presentation SØRENSEN – Connecting Markets Our Organisation SØRENSEN ApS SØRENSEN e.K Connecting Markets GmbH Sales, Marketing, lead-generation DK Sales, Marketing, lead-generation DE Project Management

4 1. Short presentation SØRENSEN – Connecting Markets
Our Services Coaching & Strategiy development Market research Partnering Assistance with own set-up

5 1. Short presentation SØRENSEN – Connecting Markets
Selection of Life Science reference projects 5

6 1. Short presentation SØRENSEN – Connecting Markets
Selection of public cooperation partners – Germany 6

7 36 1. Short presentation SØRENSEN – Connecting Markets
Selection of IHK‘s Germany IHK Braunschweig IHK Stade IHK zu Hannover IHK Lüneburg-Wolfsburg IHK Osnabrück-Emsland IHK Oldenburg IHK zu Münster IHK Rostock IHK Berlin IHK Essen IHK Köln IHK Kassel Etc. Selection of public cooperation partners – Germany 36 7

8 1. Short presentation SØRENSEN – Connecting Markets
Selection of public cooperation partners – Denmark 8

9 2. Introduction Lower Saxony as a gateway to Germany
82 m citizens Nominal GDP per capita (2012): EUR 32,276 Main religion: Christianity, 30% Catholics (South+West), 29,9% Protestants (North+East) Head of state: Federal president Joachim Gauck Head of government: Federal chancellor Angela Merkel Annual real GDP growth (2012): 0,7% Major Trading Partners: France, the United Kingdom, the Netherlands, the United States and China Languages: German. 67% of German citizens claim to be able to communicate in at least one foreign language and 27% in at least two languages other than their own

10 2. Introduction Lower Saxony as a gateway to Germany
Federal State Areal km² Citizens, total Citizens/ km² Berlin 891,54 3.849 Hamburg 755,16 2.347 Bremen 404,28 1.637 Nordrhein-Westfalen 34.088,43 526 Saarland 2.568,65 401 Baden-Württemberg 35.751,48 301 Hessen 21.114,75 287 Sachsen 18.419,48 228 Rheinland-Pfalz 19.853,70 203 Schleswig-Holstein 15.799,22 179 Bayern 70.551,58 177 Lower Saxony 47.626,60 167 Thüringen 16.172,14 140 Sachsen-Anhalt 20.447,64 116 Brandenburg 29.480,97 86 Mecklenburg-Vorpommern 23.186,29 72 Germany, total ,91 230 Source: Statistik Portal der Statistischen Ämter des Bundes und der Länder Germany 82 m citizens Regional differences between North, East, West and South

11 2. Introduction Lower Saxony as a gateway to Germany
Lower Saxony – a gateway to Germany and a gateway to Europe An industrial location with a great future The second-largest German federal state The fourth-largest population (approx. 8 m) Geographical location in the heart of the European Union Exceptional infrastructure: central hub linking northern and southern, eastern and western Europe  Lower Saxony – a gateway to Germany and – a gateway to Europe

12 2. Introduction Lower Saxony as a gateway to Germany
Strong sectors Lower Saxony is home to almost every sector of industry and commerce and many sectors are at the forefront. These include: - The automotive industry including - The maritime industry - The automotive supply industry - The steel industry - The chemical industry - The aviation industry - The agricultural and food industry - Machine-building - Solar and wind energy generation - The healthcare industry - The life science and medical sectors - The insurance and tourism branches

13 2. Introduction Lower Saxony as a gateway to Germany
Life Sciences in Lower Saxony Life Sciences and Biotechnology take a top position in Lower Saxony More than 260 companies with almost 20,000 employees work on enzymes, vaccines, innovative medicines and seeds Extensive research landscape with many first-class research facilities Area of life science: 18 universities and technical colleges Area of biotechnology: additional 80 research institutions and 230 working groups

14 2. Introduction Lower Saxony as a gateway to Germany
Life Sciences in Lower Saxony Companies, universities and institutes within the fields of biomedical technology and biotechnology are spread out across Lower Saxony However, they are particular concentrated around the agglomerations of Hannover, Göttingen and Braunschweig

15 2. Introduction Lower Saxony as a gateway to Germany
Life Sciences in Lower Saxony Lower Saxony has special potential and unique features within: Infection research Genome- and proteome based diagnostics Biomedical engineering Biomaterials, biotechnology Regenerative medicine Neurobiology Nutrition and agricultural biology

16 3. Introduction Denmark as a gateway to Scandinavia
5.5 m citizens Nominal GDP per capita (2011): EUR 40,200 Religion: Evangelical Lutheran Head of state: Queen Margrethe II Head of government: Prime Minister Helle Thorning Schmidt Annual real GDP growth (2011): 1.0% Major Trading Partners: Germany, Sweden, the Netherlands, China, the United Kingdom, Norway Languages: Danish. 86 % of the Danes speak English, which is the predominant second language

17 3. Introduction Denmark as a gateway to Scandinavia
Through the bridge to Sweden, Denmark has become a gateway to Scandinavia The region Malmø Copenhagen has become an important trade and service center of Northern Europe  Øresund region Attractive test market: Use Denmark as a gateway to Scandinavia Danish consumers are the fastest in the world to adopt new products Tech-savvy consumers Optimal market size Work culture that supports innovation Scandinavia: A market nearby ! Source: Copenhagen Capacity 2008

18 3. Introduction Denmark as a gateway to Scandinavia
Country Population Denmark Copenhagen Sweden Stockholm Norway Oslo Finland Helsinki Scandinavian population Attractive concentration of citizens  25 m consumers Source: Copenhagen Capacity 2008

19 „Those who seek security, should go to the North!“
3. Introduction Denmark as a gateway to Scandinavia ConsistentlyTop-Ratings for Scandinavia  growth with stability Source: August 2012 „Those who seek security, should go to the North!“ (http://www.format.at, Bloomberg/Jochen Hahn, )

20 1997 2013 3. Introduction Denmark as a gateway to Scandinavia
Medicon Valley – one of Europe’s most successful Life Science Clusters 1997 2013

21 3. Introduction Denmark as a gateway to Scandinavia
Medicon Valley – a TOP Medtech Region in the Øresund Region Cluster Facts Population is approx. 3.6 m with a work force of approx. 1.5 m people Companies with R&D and/or production: Approx. 200 medtech companies, 150 biotech companies and 25 pharma- ceutical companies Approx. 44,000 employees in the private life science sector 15 Clinical Research Organizations and 13 Contract Manufacturing Organization 12 Universities, 5 of which supply life science related educations 150,000 students and 10,000 scientists 7 Science parks with significant focus on Life Science

22 3. Introduction Denmark as a gateway to Scandinavia
Medicon Valley – a TOP Medtech Region Your benefits in Medicon Valley Highly skilled employees – crucial to knowledge based companies A well-established medtech, biotech and pharmaceutical industry Medicon Valley is a gateway to the Nordic medtech market Access to capital - finance your development from Medicon Valley Unique interplay between universities, hospitals and industry Excellent in combining different areas of technologies and competences Attractive environment for clinical trials and development with focus on user involvement

23 3. Introduction Denmark as a gateway to Scandinavia
Further attractive general conditions in Denmark TOP rankings in the last years within the ”Ease of Doing Business” by the World Bank Attractive general conditions: Easy to set up a business (and close down) High flexibility of the labour market and no dismissal protection Low labour costs Low corporate tax Low risk – low start-up costs (low equity) Etc. Source: Copenhagen Capacity 2013

24 4. Practical guidelines to successful internationalization
Independent of your starting point – CULTURE matters: Germany – sixteen states – sixteen “cultures” Scandinavia – four countries – four cultures

25 10% 4. Practical guidelines to successful internationalization
Example: The German Ice Berg vs. The Danish Ice Berg High population density Many citizens History Performance society High competition Highly specialized Regional diversity Multiethnic state Hard working ”Ordnung muss sein” Punctuality Perfection Cleanliness Thorough planning Reliability Central position Low population density Few citizens History Welfare society Outskirts Relatively homogenous population Easy going Tradition and modernity Family orientation The law of jante Strong women Openness towards new things Humility is positive Justice All are equal(ly good) Consensus “Laissez fair” 10% Urban structure

26 4. Practical guidelines to successful internationalization
Successfully expanding to new markets It is not just about explaining your product – it is about positioning and finding the right way into the market New and foreign markets are foreign and different markets: Market size Health care systems Decision makers (centralized vs. decentralized) Reimbursement and financing systems Routines Customers Certificates and approvals Sales channels (distributors, own salesmen, etc.) Sales arguments It is essential to gather local market information ! Find your local USP’s, that match to market conditions !

27 4. Practical guidelines to successful internationalization
Your succeful market entry – the choice of market entry strategy Direct Sales Agent Distributor Joint Venture Strategic alliance Representing office Branch Subsidiary  Risk and investment increase  Control and market knowledge increase

28 4. Practical guidelines to successful internationalization
Your succeful market entry Production or manufacturing The choice of your individual market entry strategy should be dependent on: + Present market situation + Timing + Your individual situation + Your company's export preparedness + goal oriented planning = Differentiated market entry strategy Market commitment Establishment of sales subsidiary Export via independent representatives No regular export activities Market knowledge

29 5. Practical cases Lina A/S
A medium-seized danish company that develops, produces and sells person lifts After focusing on the Danish market they turned their gaze beyond the borders – towards Germany A market analysis showed that it was an absolute requirement to be present in the market if a market penetration was to be guaranteed Approval from the German Krankenkassen (health insurance companies) to reimburse the products Sales via distributors and “Sänitätshäuser”/ “Orthopädiehäuser” (special medical supply stores) Here patients were advised and counseled The market strategy was first applied locally in Lower Saxony and later expanded to the whole of Germany

30 5. Practical cases Anonymous
Development and manufacturing of medical devices for aortic and peripheral vascular diseases Product portfolio includes conventional grafts and interventional implants for cardiovascular surgery, radiology and cardiology For many years the company followed the market strategy to use partnerships abroad Since the product required a lot of explanation it was very difficult to achieve the wanted market penetration In the end, the company terminated the partnerships and hired their own employees

31 De Koningh Medical Systems
5. Practical cases De Koningh Medical Systems De Koningh Medical Systems develops high tech mechatronic instruments and systems for the medical market The company aspired to grow internationally and had several positive feedbacks from Scandinavia A marked research was conducted to get a feeling about standards and recommendations about market entry modes in Scandinavia Due to market size (25 mio. Inhabitants) and market conditions, the company got recommended to establish an own set-up on the market This was positively decided and as a first step, the company had to build up internal competences to secure a long term market entry

32 Vodisys Medical Software
5. Practical cases Vodisys Medical Software A Dutch Company who produces a high dedicated medical software for hospitals and universities Company is used to invest 5-6 years to get access into the first concrete customer-discussions During the research on the Scandinavian Vodisys got in contact with 4-5 hospitals and universities  first orders were already given on the first meeting A sales office was founded immediately in Denmark "It was just because I was curious I came to the Chamber of Commerce to meet Sørensen, now it is serious business."

33 5. Practical cases Polytech
POLYTECH Health & Aesthetics is a German manufacturer of soft-tissue silicone implants One of the market leaders for silicone implants in Europe POLYTECH’s products are used worldwide in more than 60 countries for reconstructive and aesthetic plastic surgery Based on a market research the company find out that they had to work with high dedicated partners in the market Sweden offered a unique market opportunity and a partner was found, who was able to further develop the market in Scandinavia

34 5. Practical cases Conclusion
Be aware of local conditions: culture, market structure, pricing etc.  knowledge is essential The choice of sales strategy in new markets is not always the same as in the home market New markets are more interested in the hands-on advantages that your product can provide in their system than in long technical descriptions  find your local USP’s

35 6. Questions/ Discussion
Just get started ! Let us talk about your company‘s individual possibilities We can also arrange a telephone/Skype meeting, in order to discuss your individual situation

36 Thank you for your attention!
SØRENSEN – Connecting Markets Germany Denmark: Sørensen e.K. Connecting Markets GmbH Sørensen ApS Podbielskistr Nerongsallee 9 Centervej 2 E D Hannover D Flensburg DK Kolding Tel: Tel.: Tel.: Web: Mr. Benny Egholm Sørensen


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