Market Opportunities and New Business for Advanced Manufacturing Companies

Overview

Discussion on market opportunities for companies in advanced manufacturing, especially Canadian businesses.
Key events impacting the industry: the pandemic, supply chain disruptions, war in Ukraine affecting commodity markets.
Introduction of the term VUCA (Volatility, Uncertainty, Complexity, Ambiguity) from Cornell University to describe current business environment.
With risks, new market opportunities arise, including for Canadian companies as exporters and suppliers of innovative products and services.

Export Development Canada (EDC): Sponsor of the session. Provides export and financial services for Canadian exporters. Noted for its risk insurance and financial services for international trade.
Mike Brown: Commercial Account Director at EDC.
Kurt Devite de Vries: Canada's Trade Commissioner covering the automotive sector. Focuses on innovative automotive technologies.
Industry speakers:
- Luigi Andecerio: R&D Manager at Axiom Group, specializing in automotive plastic parts and assemblies.
- Barry Hunt: President and CEO of Prescient X, focuses on medical devices and PPE manufacturing.

Luigi Andecerio:
- Emerging markets in electric vehicles (EV) and Industry 4.0 (data-driven AI based technologies).
- Nano materials, 3D printing, and robotics as growth areas.
- Importance of investing in technologies to improve production efficiency and quality.
Barry Hunt:
- Growth in medical front due to the pandemic.
- Importance of comfort and convenience in PPE for better export potential.
- Canada's advantage in quality and service combined with innovation.
Kurt Devite de Vries:
- Emphasis on clean technologies and the regulatory framework around it.
- Opportunities in light weighting and innovative manufacturing for electric vehicles.
- Critical need for knowing customer problems and offering solutions.
Mike Brown:
- Importance of knowing the physical logistics and regulatory environment of new markets.
- Diversifying into new use cases for existing technologies can create new opportunities.

Barry Hunt:
- Understanding barriers to change and competition.
- Importance of collaborating with champions and early adopters to drive change.
- Risks include being undercapitalized and timeline overruns.
Luigi Andecerio:
- Significance of prototyping and proving concepts before large investments.
- Adapting and building on existing infrastructure can be cost-effective.
Mike Brown:
- Under-preparation and misunderstanding of local regulations as big risks.
- Importance of knowing who your business partners are.
- Avoiding over-extension when entering new markets.
Kurt Devite de Vries:
- Experts can help identify risks specific to a market.
- Clear distinction between exporting directly vs local investment entry.

Mike Brown:
- Leveraging local chambers of commerce, CEO clubs, associations like NGen, and professional services firms.
- Utilizing EDC's revamped website for free exporter information.
Luigi Andecerio:
- Using StatsCan data and Canada Buy Sell database to gauge market trends.
- Importance of knowing industry trends and the regulatory environment.
Barry Hunt and Kurt Devite de Vries:
- Networking through agencies like EDC, Trade Commissioner Service, and industry associations.
- Can Export and other government programs can significantly offset market entry costs.

Hydrogen Supply Network: Growth opportunities in both fuel cell and hydrogen combustion applications, especially in rail, trucking, and mass transit sectors.
MedTech Sector: Acknowledged growth potential but noted for complex procurement chains and regulatory approvals.
Clean Technologies and Carbon Cost: Growing importance of clean manufacturing technologies and potential regulatory carbon costs.

Engage with local and international industry experts and government agencies to navigate new markets effectively.
Be open to networking, sharing ideas, and collaborating for innovation and market entry.
Utilize available government programs for financial support and risk mitigation.

Reach out to Kurt Devite de Vries through Twitter, My TCS account, or email for specific sector advice.
Contact Mike Brown at EDC for export and financial services support.
Utilize professional networks, local chambers of commerce, and government programs like Can Export for guidance and financial assistance.