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 IT  Business Development Program (2003-2004)

Recently JOBS has successfully completed the IT Business Development Program, designed to assist the Small and Medium Sized Exporters (SMEs) working in the Software and Information Services sector in their international business development effort.

This new program was developed with the assistance of USAID/ANE Bureau and conducted by a US based Venture Capitalist (Abhishek Jain of Washington Technology Partners, Inc). The following activities were undertaken in close collaboration with Bangladesh Association of Software and IT Services (BASIS) to achieve the objective of the program:

  • Provide updates of the US market by distributing a resource Guidebook for the ICT executives on how to do business in the USA. The guidebook covers issues such as; preparing a business plan; analysis of the private equity/venture capital market in the USA and associated trends; analysis of current market opportunities in the USA that are appropriate for companies from the target country and preparing a market penetration strategy. The guidebook is written with country specific information so that it is appropriate for the industries and business models that are most prevalent in the target country.

  • Assess the basic potential of the ICT companies to market their products and services in the U.S market. It was done by distributing a questionnaire to ICT executives that request basic information about their companies. The questionnaire requests information regarding revenues, profitability, management biographies, track record, major customers, product/service information, and other relevant data. Additional coaching and follow up interview by VC was scheduled for the top thirty companies that was judged based on: strength of management team, track record, technology capabilities, presentational style, size, and applicability to the US market.

  • Conducted a Two day workshop on Strategic Business Development in the United States–an Interactive Workshop. The workshop provided training to more that 50 Software companies on developing strategic relationships with US companies.

  • Conduct multiple private coaching/interview session with the senior executives of approximately 35 ICT companies. Each session was approximately one hour in duration. These sessions were designed to provide direct feedback to senior executives on the strengths and weaknesses of their specific companies in connection with doing business in the United States.

  • Identified eight companies that are best equipped to join in the US Linkage Tour in Washington DC metropolitan area for business development purposes.

  • Provide a comprehensive coaching program for selected the delegates. The coaching program includes assisting each company in drafting an executive summary of corporate capabilities (1-2 Pages); drafting a comprehensive marketing plan (15-30 Pages); developing an “elevator pitch” for the US Market; preparing sales/marketing collateral for the US market; implementing internal quality customer support processes; and developing effective presentation skills for the US market. This process was highly interactive and required significant interface between the VC and each company. Substantial effort was required on the part of each delegate, as through research was conducted and extensive drafting of documents was involved.

  • Assisted the selected companies in the US Linkage Tour by identifying appropriate corporate contacts for each delegate and arranging meetings with senior executives of potential customers and strategic partners. Two business networking receptions were organized in the Washington, DC metropolitan area.  One reception was large (about 115 attendees) and one small (about 37 attendees). In addition, the delegate each had at least three private meetings with senior executives for local technology companies. These business contacts typically is senior executives or CEOs  of technology companies with over $ 10 Million in annual revenues in order to ensure that contacts are credible.

  • The large networking reception was held for the Bangladeshi delegation at the Mclean Hilton hotel in Tysons Corner, Virginia (the heart of the technology corridor in the DC metropolitan area) from 6:30 PM until 9:00 P.M on Tuesday, February 24th. This event was coordinated with the ICEO Council, which is the largest network of the East Coast of the United States, featuring over 3000 executive members. The ICEO has been described as “networking nirvana” by the Washington Post and “the singular best networking organization ever” by Governor Mark Warner. It has been regularly featured in the Wall Street Journal, Forbes, Fortune and other publications.

  • The small luncheon reception was hosted in Reston, Virginia on Thursday February 26th from 12:00 PM until 2:00 PM for the delegates. This event featured a luncheon panel discussion, after an hour of networking, on international business for the ICT sector. Speakers from Accenture and Perot Systems were selected to address this topic.

  • Each company was provided with an opportunity to meet at least three senior executives of local IT companies at their offices on a personalized basis to explore potential business opportunities. Some delegates had as many as five private meetings. Every meeting was tailored to the specific business needs of each delegate based on information obtained through the companies marketing plan. In order to maximize the potential for business development, the VC has send background information about the delegates to the various local senior executives prior to the meetings. A total of 28 companies agreed to have private meetings with specific Bangladeshi delegates. The delegates were provided with background information about each company with which they were scheduled to meet when they arrived in the United States so that they could properly prepare for the meetings.

We believe the participating companies got benefited from the IT Business Development Program. Some of these benefits come from direct business relationships that have been established through the events and meetings in the United States. Other benefits come from the rigorous preparation work that each delegate has undertaken prior to the trip to United States.  In order for this tour to be truly successful, though, significant follow-up work must be conducted by each delegate. Post-event follow-up is as important as pre-event preparation. The VC will assist each delegate in their follow-up process for some time in the future to ensure long-term results. 

We are thankful to Abhishek Jain, USAID, BASIS, SETA Corporation and the Bangladeshi ICT companies that participated in this program.

 

                         A Project of USAID Bangladesh Implemented by the IRIS Center at University of Maryland

                              Job Opportunities and Business Support (JOBS)
                                House No. 1A Road No. 23 Gulshan -1, Dhaka-1212, Bangladesh
                 Phone: 880-2-9885141, 880-2-9895218, 880-2-8826154, 880-2-8829037  Fax: 880-2-8826154  Email: info@jobsiris.dhaka-bd.net