NIHAK helps navigate new markets
As economic cycles change and global markets fluctuate, it takes courage to look for new business opportunities. NIHAK helps businesses in the region network and create competitive solutions for a changing world.
Companies’ operating environment in the last few years has been in constant change. Economic slump, geopolitical tensions, and changes in international trade relations have brought with them both challenges and new opportunities. In the midst of turbulence, companies need to renew their strategies and actively seize new market opportunities.
“When the world around us changes, it also means opportunities for companies. It is essential to identify the requirements related to the new markets”, says Ari Alakangas, Head of Internationalization Services at NIHAK. In response to the needs of businesses, NIHAK launched a new project in the summer of 2024 to support SMEs in the region in finding new markets. The opening of new paths is also reflected in the name of the project, Dr. Livingstone – New Business in a Turbulent World.
The project gathers business networks and creates partnerships so that companies in the region can jointly offer larger service packages to international markets. In practice, it involves scenario development, networking events, participation in fairs, and the utilization of expert services. NIHAK and the region of Raahe work side by side, which provides a broader regional base for corporate collaboration.
For example, the reconstruction of Ukraine requires long-term work and creation of networks from companies involved. NIHAK prepares an overall picture of the situation and preliminary estimates, after which the building of the consortium and identification of partners will start. The groundwork has already been ongoing for several years.
“We have been ahead of schedule by two to three years in terms of both the reconstruction of Ukraine and the defense industry. Now these themes are very topical”, Alakangas says.
NIHAK’s internationalization services have long supported companies in the region in the mapping of new markets, network building, and business development.
As with expeditions in the past, the mapping of new market areas requires the building of understanding, as well as time and resources.
“NIHAK’s role is to serve as a catalyst for businesses and a driver of change. We walk alongside the companies and help find the right networks and opportunities”, Alakangas summarizes.
Dr. Livingstone – New business in turbulent world
Objective: Supporting the internationalization of companies in new emerging markets and recognizing their capabilities to identify business opportunities.
Duration: 06/2024–06/2026
Budget: 390,853 euros
Lead developer: NIHAK, in collaboration with Raahe Region Development
Funded by: Ely Centre for Northern Ostrobothnia / Business Environment Support
