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For immediate release
Alan Fogg, FCEDA
703-790-0600; 571-213-5065; afogg@fceda.org
Fairfax County competition to help local tech firm conquer British/European market
Winner would get place in UK incubator; UK companies to vie for place in Fairfax County's new bioscience incubator
Fairfax County, Virginia, May 1, 2002 — The Fairfax County Economic Development (FCEDA) is spearheading a competition to help a local technology company land a place in a business incubator in the United Kingdom. At the same time, the FCEDA is running a competition to give a British company free rent and business services in a bioscience incubator that will open this summer in Fairfax County.
This is the second year that the FCEDA has sponsored a competition to bring a U.K. company here to expand into the American market. It is the first time a competition has been organized to send a U.S. company abroad to expand into the British and European marketplace.
Companies will be able to enter the competition through July 1. Judges on
both sides of the Atlantic will examine the entries and rank their recommendations. Winners will be announced in November.
"This competition gives companies on both sides of the Atlantic the
opportunity to continue to grow at home and expand into new and potentially very lucrative markets abroad perhaps years earlier than they otherwise would," said Gerald L. Gordon, president and CEO of the FCEDA. "It also ensures that Fairfax County will become home to more overseas businesses."
Detailed information and application forms are on the FCEDA Web site (www.FairfaxCountyEDA.org), and there will be links to the forms on Web sites of other competition organizers:
U.K.-to-U.S. competition details
A panel of British judges will rank the UK applicants interested in coming to the U.S. The British company that lands in Fairfax will win free rent for a year and $50,000 worth of business development services at the BioAccelerator, the bioscience incubator that the FCEDA will open this summer. ANGLE Technology Group, an international technology management company, will operate the BioAccelerator. The competition to send a U.K. company to the U.S. will be coordinated by the FCEDA with the U.K. Science Parks Association, U.K. Business Incubation, and BritishAmerican Business Inc. Other sponsors are South East England Development Agency, Cyril Leonard & Co., Penningtons, OFEX and Taylor Joynson Garret.
U.S.-to-U.K. competition details
A panel of British and American judges will rank the U.S. companies interested in landing in a U.K. incubator. The American company can work in any technology sector and will be able to pick a location from several British incubators that are participating in the competition. The UK has an extensive network of business incubators and science parks.
The competition to send a U.S. company to the U.K. will be coordinated by the FCEDA and British Trade International, the Confederation of British Industry and the British-American Business Association.
2001 competition details
Last year' competition winner—AB Technology Cambridge Ltd.—is moving ahead with plans to move into Fairfax County. Companies in the U.S. and Europe have expressed interest in the product the company has developed. AB Tech Chairman David Peall recently returned from Washington where he demonstrated his Gaslok ™ invention before world environmentalists and industrialists at the Earth Technologies Forum. Gaslok ™ monitors leakage from commercial refrigeration units and has big energy saving and environmental implications.
"Without the competition I simply would not have had this chance, or be at the stage I am today with some incredibly exciting possibilities," said Peall. "It has provided a fantastic opportunity and I am looking forward to actually setting up in Fairfax."
About the FCEDA
The Fairfax County Economic Development Authority provides a wide array of services and information designed to promote Fairfax County, Virginia, as a leading business location and technology center. The FCEDA has marketing offices in London, Frankfurt and Tokyo. For more information call 703-790-0600.
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