THU, MAY 11, 2023 08:50 CET
BPC Instruments AB (“BPC” or the “Company”) announces that the Company has been approved for Global Innovation Accelerator (“GIA”) program. BPC has recently ramped up its business development in North America by establishing a Service Center in Boise, Idaho, and the GIA program is the next step in the Company’s strategy to expand its business network and increase its physical presence in the region. GIA is a tailor-made business accelerator program run by the Swedish Energy Agency and Business Sweden that will prepare BPC for establishing its physical presence in the USA in 2024. The program runs from the beginning of May 2023 to the end of April 2024. With access to resources and networking opportunities, BPC will gain valuable insights and connections to help accelerate its business expansion in the North American region.
CEO at BPC, Dr. Jing Liu comments:
“I am thrilled that BPC has been approved for the GIA program, which will help BPC establish our physical presence and business team in the USA. The demand for our products in North America is increasing rapidly, making it crucial for us to expand our business network. Our recently signed service license agreement with Digester Doc LLC for a new Service Center in Bosie, Idaho, is a significant first step. The GIA program will further provide us with valuable resources, mentorship, and networking opportunities to help us achieve our goals and I am grateful for this opportunity and look forward to the benefits it will bring to our business expansion in North America.”
As BPC’s products continue to gain increasing interest in North America, the Company’s strategy is to strengthen its business network and establish its own physical presence and local business team. The Company recently communicated its first significant step by establishing a new Service Center in Biose, Idaho together with Digester Doc LLC. The GIA program, which runs from May 2023 to May 2024, is the next step in the Company’s strategy and will provide BPC with a valuable opportunity and context to further develop its business and pave the way for a future establishment in the USA.
Through the program, BPC will receive a grant of 240 000 SEK from the Swedish Energy Agency with a grant component requirement of 60 000 SEK match funding from the Company, making the total amount 300 000 SEK. The funding will be paid out in two separate payments, 114 000 SEK in 2023 and 96 000 SEK in 2024. The funding will be used to engage international industry experts and business consultants. By leveraging available resources, mentorship, and networking opportunities, BPC stands to benefit from valuable insights and connections that can aid in expediting its business expansion plans in the North American region.
GIA is a tailor-made accelerator program for Swedish companies that contribute to the Swedish and global transition towards a sustainable energy system and that are ready to internationalize. The goal of the program is for the participating companies to get access to an international market or value chain chosen by the company and to find potential customers, investors, or partners. The Swedish Energy Agency provides on-top support for business development and commercialization of innovations and new technologies and ensures that good solutions can be exported. The agency works on behalf of the Swedish Government and is a responsibility of the Ministry of Infrastructure. Business Sweden is jointly owned by the Swedish state and the Swedish business sector with a mandate and a mission to help international companies gain access to the Swedish market and help Swedish companies utilize it as a platform for expansion.
About BPC Instruments AB
BPC Instruments is a global Swedish-based pioneering technology company developing and offering analytical instruments enabling more efficient, reliable, and higher quality of research and analysis for industries in renewable bioenergy and environmental biotechnology. The result is not only higher accuracy and precision, but also significant reduction in time consumption and labour requirement for performing analysis. BPC Instruments’ innovative products offer high quality hardware and software based on deep knowledge and experience of target applications. The solutions are the first of their kind, making the company a pioneer in its field. Today, BPC Instruments exports to 60+ countries around the world. BPC is listed on Spotlight Stock Market in Sweden. For more information, please visit BPC’s webpage: www.bpcinstruments.com