[ Back to EurekAlert! ] Public release date: 12-Feb-2003
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Contact: Jenny Connorton
jconnorton@mww.com
212-827-3762
British Information Services

UK unveils 'global partnerships' program to foster transatlantic business relationships with the US

New initiative to promote science and technology partnerships and advancements

Denver, CO - February 12, 2003 - The British Government today announced a sweeping new initiative in the United States aimed at promoting research and development and commercial partnerships across the Atlantic. The Global Partnerships program, spearheaded by Invest.UK in partnership with sister agency Trade Partners UK, is being formally unveiled during the American Association for the Advancement of Science (AAAS) Annual Meeting in Denver. Representing a shift in economic development policy, Global Partnerships addresses specific market demand that will allow UK and US businesses to co-develop technologies or products through transatlantic partnership before committing to direct investment.

"We developed the Global Partnerships program in response to the need for knowledge driven companies, particularly in biotechnology and information technology, to establish a presence in the UK in a challenging economic climate," commented Alastair Newton, Director of Invest.UK USA. "For US entrepreneurs, a successful transatlantic alliance can reduce risk, shorten time to market, and set the foundation for expansion into the European market. We expect the formation of new partnerships to play a significant role in future wealth and job creation in both the US and the UK."

The Global Partnerships program incorporates the expertise of three divisions of the British Government in the US - Invest.UK, Trade Partners UK and the UK's Science and Technology Network. The three divisions will be working closely to identify and advise clients in the US.

Now rolling out on a global basis, the US pilot program alone has yielded more than 20 partnership projects over the last six months despite the downturn in the business cycle. The announcement at the AAAS conference in Denver marks the official national launch of the program.

"It is only fitting that we launch the Global Partnerships program during the prestigious AAAS Annual Meeting, as it offers us a platform to foster relationships with prominent knowledge-driven companies in the US and around the world," Mr. Newton remarked.

How Global Partnerships Works in the US
A free and confidential service, Global Partnerships works with US-based companies to identify a list of prospective UK partners which possess comparable and/or complementary skills and objectives based on customized research from within the UK's Department of Trade and Industry.

The list of potential candidates is normally produced in 10 working days from the time that the US firm briefs Invest UK on its partnering needs- demonstrating a commitment to responsive and expeditious government in keeping with business cycle demands. A summary report on potential UK partners (e.g. number of employees, history, level of interest) is included.

Next, with close involvement of Invest.UK, the US company is encouraged to contact the short list of UK candidates who have specifically expressed an interest, and the process of building a partnership can begin.

Getting Involved
US companies interested in exploring the Global Partnership Program further should contact Invest.UK representatives at the British Consulates-General around the US.

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About Invest.UK
Invest.UK (http://www.investuk-usa.com ) is the British Government's worldwide economic development agency, helping US companies set up in the UK or expand from a British base swiftly and smoothly. Invest.UK's headquarters in the United States is in New York City with regional offices in Atlanta, Boston, Chicago, Houston, Los Angeles, San Francisco and Washington DC; and branch offices in Phoenix and Seattle.

Invest.UK provides information on all aspects of establishing a presence in the UK; arranges site visits; advises on local, regional and national incentives; provides information on the availability of labor, transport, proximity to customers and to suppliers etc; facilitates contacts with key private and public sector companies; and saves potential and current investors valuable management time and costs through its free and confidential service.

About Trade Partners UK
Trade Partners UK (http://www.tradepartners.gov.uk ) provides assistance to UK companies exporting goods and services to the United States, and assists US companies to source goods, services and business partners from the UK. With 14 US offices drawing on specialist professional experience, Trade Partners UK is ideally positioned to answer US-UK trade enquiries speedily and effectively.

About the UK S&T Network
The British Government's White Paper on Science and Innovation "Excellence and Opportunity" (July 2000) called for a network of 30 full-time science and technology advisors to be attached to British overseas offices around the world. Six are in North America with offices in Boston, Washington DC, Los Angeles, Houston and San Francisco and Ottawa.

Their purpose is to report on policy developments, strategy and emerging priorities and to facilitate international negotiations; to promote the UK's science and technology achievements and to report on overseas research and technology developments; to encourage collaboration, inward investment and trade and to develop links for the benefit of the UK research community and industry.


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