UCLA’s Anderson School of Management’s Global Access Program (GAP) assists six Lithuanian companies to enter the US market. Spanning fields from medical technology to IT solutions, these companies are poised to leverage GAP’s resources and expertise for a successful market penetration strategy. Over an intensive six-month period, these companies will collaborate with an assigned MBA team to carry out market analysis, develop a marketing strategy, and create a business plan.
PALO ALTO, Calif., July 19, 2024 /PRNewswire/ — UCLA Anderson MBA students in six-month time will craft GAP’s market entry plans. InnoHub Lithuania, an entity of Innovation Agency, a non-profit organization under Lithuania’s Ministry of Economy and Innovation will fund the project.
Karolis Karalevičius, Business Community Manager at InnoHub Lithuania, expressed his enthusiasm for the program, highlighting its potential to provide US market-specific insights. “We aim to relay learnings to inform other Lithuanian companies about US market preparation and strategic approaches, supported by our education and mentor network.”
From 2018 to 2023, 18 Lithuanian companies participated in GAP with help from the Consulate General of Lithuania in Los Angeles. Laima Jurevičienė, Consulate General, noted that these programs equip companies for smoother entries into the competitive US market, enhance their international growth, and boost Lithuanian exports.
“We are excited about the six new companies joining in 2024” said Ms. Jurevičienė.
This year’s participating companies are:
- Doclogix
- Feetsee (Diabetis JSC)
- Oixio
- Optoman
- Reiz Tech
- TeleSoftas
Mantas Kondratavičius, Director of Diabetis JCS, emphasized the significance of the US market for their remote-monitoring medical innovations due to its early adopters and large consumer base. “We seek the expertise of US business schools and the drive of California to advance our business,” he said.
Oixio’s Customer Experience Manager, Andrius Martinonis, looks forward to fresh perspectives and actionable feedback from the GAP. “It’s about transforming our approach and thinking about expansion. Collaborations like these help us refine strategies, overcome barriers, and build strong US market relationships,” he said.
Reiz Tech CEO Valdas Šimas expects the program to provide detailed US market insights, aiding in developing a strategic business plan for their B2B product, Reiz Studio and Skillit. “This knowledge is crucial for our success,” he stated, anticipating valuable networking opportunities and expert feedback.
GAP has a 24-year history of helping companies form strategic partnerships, secure financing, and establish distribution networks, benefiting 820 companies to date.
SOURCE Innovation Agency Lithuania
