What business opportunities are there in Los Angeles?
This is a project-related funding measure within the framework of the BMWi market development program for SMEs. The five-day trip on the topic of Smart City takes the participants virtually to the cities of San Francisco and Los Angeles in the state of California.
The United States is the largest regional market for smart city technology initiatives in the world, accounting for 26% of global spending. The trend is upwards, as forecasts show that the US smart city market is expected to grow by 24.7% by 2027. From a sales perspective and as a key technology location or as a procurement market / production location, the USA is one of the most important target regions outside of Europe. The business trip is intended to make it easier for German companies to enter the market and provide support for the targeted initiation of new business opportunities in the US target market.
California, especially the cities of San Francisco and Los Angeles, offer significant market opportunities, as a so-called “early adopter” culture can be found there. Due to the openness to new trends and change, as well as the economic strength of California, innovative technologies and solutions find support quickly. In particular, there is a high level of interest in “Smart City” solutions in the areas of mobility, cleantech and energy efficiency, since heavy traffic and high power consumption represent hurdles for achieving the federal state's ambitious climate targets.
In addition to individual virtual business meetings, the trip program also includes market briefings for the Smart City locations in San Francisco and Los Angeles. Market experts such as Germany Trade & Invest, Plug & Play Tech Center, World Trade Center LA or Center for Cyber-Physical Systems and the Internet of Things will give an insight into the US market.
8 to a maximum of 12 companies can take part in the business initiation trip. Registration closes on June 18, 2021. Registrations will be considered in the order in which they are received, with SMEs having priority over large companies.
The company's own contribution for participating in the project is between 250 and 500 EUR (net), depending on the size of the company. The project is part of the BMWi market development program for SMEs and is subject to de minimis regulations.
Further information can be found in the project flyer
An overview of other projects of the BMWi market development program for SMEs can be found at www.ixpos.de/markterschliessung.
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