The Kick-Off Meeting of the European Medtech Alliance dedicated to support SME Internationalisation was held on September 8-9th.
The Kick-Off Meeting of the European Medtech Alliance dedicated to support SME Internationalisation was held on September 8-9th. MAGIA2Market follows the first phase of the MAGIA project which ended on December 31, 2019. The second phase, MAGIA2MArket brings together again the four European leading MedTech clusters: bioPmed (coordinator, Piedmont), BioWin (Wallonia), Life Science Nord (Northern Germany) and Lyonbiopole (Auvergne-Rhône-Alpes) joining forces to continue the successful European Strategic Cluster Partnership on MedTech.
The MedTech sector is highly innovative and ever-evolving. Despites the current COVID-19 crisis, developing strategic technological, industrial, and commercial partnerships as well as getting into investors’ and experts’ networks at international level remains crucial for actors in MedTech. It allows them to be at the forefront of innovation and to generate maximum benefit for patients in Europe and around the world. However, it is a very competitive sector for SMEs and entry points in the leading countries are difficult to create.
During the first phase, the MAGIA Alliance has built a comprehensive market knowledge base and an in-depth understanding of two global MedTech markets: USA and China. The partners have established a strong network of key counterparts such as Medical Alley in the United States, along with Tsinghua University, the ICI co-incubation network, and the China Association for Medical Devices Industry (CAMDI) in China.
These partnerships are an excellent basis to expand in both target countries and driving a deeper integration between the clusters and counterparts.
In the first phase, SMEs that have participated in the project have received an excellent preparation in terms of market opportunities and requirements. They have had a chance to get in touch with the MAGIA partners in the target countries and have gotten to exchange experiences with like-minded SMEs.
As a logical next step, MAGIA2Market, the implementation phase, will provide SMEs the opportunity to meet with potential partners, laying the groundwork for potential cooperation, both in terms of business agreements but also co-development or research collaboration. The four project partners will also explore a third target market, Japan. The aim is to establish strategic partnerships with organizations of the Japanese MedTech innovation ecosystem.
Hence, over the next two years, the overall goal of the MAGIA Alliance is to pursue its primary objective: the building and reinforcement of strong networks in three target countries, the USA, China and Japan to provide efficient and long-term gateways for SMEs to penetrate these target markets successfully.