Services and technology sectors account for nearly half of foreign direct investment projects globally in the first 8 months of 2019. Knowledge-based and high tech service industries can make a huge contribution to economic development and job creation as well as to helping to achieve sustainable development goals.
With a global search for talent and markets and with growing volumes of funding, the opportunities for investment in services and technology has never been stronger.
Wavteq has extensive global experience and expertise across services and technology sectors including:
Wavteq, working with ICA, was awarded a contract by CORFO Chile, the national economic development agency of Chile, to attract US R&D investment to Chile and to promote to investors a new $70 million R&D incentives program. Wavteq developed the R&D value proposition for Chile (a PPT presentation) and an introductory letter to use with investors. Our team were fully briefed in the new R&D incentives policy and we identified the 60 largest R&D spending companies in the US in target sectors.
In each company we identified key decision makers for both R&D (e.g. SVP technology) and for Latin America (e.g. SVP, Latin America) and directly engaged with decision makers using social media, email and telephone. For opportunities identified, we coordinated closely with CORFO to prepare responses for investors and set-up initial calls with CORFO. The lead generation campaign was very successful, with three companies announcing operations in Chile within 12 months of the completion of the project.
As well as the Pfizer project, Emerson announced a 70 person Centre of Excellence in Chile.
Wavteq India approached the company to understand their expansion plans for North America as part of our lead generation contract with Virginia Economic Development Partnership. We identified that the company had a clear expansion plan for the US and was planning to establish a shared services centre.
Wavteq organized a site visit to Virginia and coordinated with Virginia Economic Development Partnership the provision of detailed information on Virginia and the incentives packages available. The company selected Virginia and established a 60-80 person shared services centre in Greater Richmond, Virginia.
Changan is one of the biggest state owned car manufacturers in China. It has nearly 50,000 employees worldwide. Wavteq China team met the company and discovered that Changan planned to establish a permanent R&D Centre in the UK. We introduced Changan to Marketing Birmingham emphasizing the strength of the automotive sector in the region.
Wavteq organized a senior delegation from Birmingham City Council to meet with Changan at their HQ in Chongqing. Wavteq then assisted in formal discussions with Changan, including translation support and provided professional advice at each stage. We also organized the first site visit of the Head of Changan UK R&D to visit Birmingham and meet with Marketing Birmingham.
The company started up operations leasing 24,000 sq. ft. of space at Birmingham Business Park. Over 110 R&D jobs are being transferred to Solihull with further growth to 300 jobs and 80,000 sq. ft.