Don't take her time away.
Evidence of meeting #49 for International Trade in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was smes.
A recording is available from Parliament.
Evidence of meeting #49 for International Trade in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was smes.
A recording is available from Parliament.
4:05 p.m.
Director, Legal and Business Strategy, Figure 1
Hopefully that won't happen to us. We have no intention of being acquired right now.
4:05 p.m.
Conservative
4:05 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
Thank you, Mr. Chair, and thank you to the witnesses as well.
Ms. Ramji, I'll start with you.
You made a comment about interaction. I agree with you 100% that business-to-business interaction is very important for new SMEs to move forward. That is why our government, specifically the Minister of Trade, takes a business delegation with him when he travels.
I had an experience when I went with him to England a few months back. We took a few businesses from all areas. Believe me, I asked quite a few business people and everyone was very happy to have new connections even in advance of the CETA, which we hope to see in the coming years.
As part of the global markets action plan, this government is emphasizing the role of small and medium-sized enterprises. Specifically, we are looking at how many SMEs export and trade internationally and what we can do to bolster the numbers.
When Figure 1 expanded its operations into Europe and Asia, did it take advantage of any federal programs like the trade commissioner service's expertise in foreign economies?
4:05 p.m.
Director, Legal and Business Strategy, Figure 1
We did. We took advantage of the trade commissioner service, and some of the people from the consular offices in India introduced us to a number of people in the Indian market—companies, hospitals, health care professionals. Similarly, in our access to Germany and France, and a lot of the other European countries, we had someone from the consular office in contact with us.
We were also the recipient of a soft-landing grant, some $4,000 to aid our travel to launch in-country in India. That made it possible for us to go overseas and launch directly there.
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
Besides TCS, do you have any experience with EDC, CCC, or BDC, or other agencies to assist SMEs in foreign countries?
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
What, if any, would be the primary barriers to expansion and export from the Canadian side? How did Figure 1 get around them? What kind of legislative or regulatory changes would reduce these barriers from the Canadian side?
4:10 p.m.
Director, Legal and Business Strategy, Figure 1
Like I said, so far, I'm not sure that there have been any barriers from the legislative side. It's complying with laws on the other side to make sure that we're privacy compliant, health care law compliant in all of the other jurisdictions, which is our primary barrier to getting to market faster. We want to do this in a step-by-step manner, making sure that we are compliant with all laws around the world.
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
My next question is for both Mr. Walker and Ms. Ramji.
Are you aware of our Go Global workshops, and what do you think of this initiative?
The minister initiated Go Global: Supporting Export Success. It is having workshops in numerous cities on numerous days. Are you aware of that?
4:10 p.m.
Director, Legal and Business Strategy, Figure 1
I am.
One of the things that is difficult about these Go Global workshops is that they are for before you've entered markets. As we're already in the market, the type of assistance that we need or could use right now is help meeting the individuals and players in that market. That's the difference for us particularly.
4:10 p.m.
Managing Editor, SocialFinance.ca, and Communications Associate, MaRS Centre for Impact Investing
With MaRS, more specifically, a couple of months ago.... We do this stuff relatively regularly, taking entrepreneurs to global workshops that are formal and then through the trade commissioner, or through the consulates office, for example.
We just went down to San Francisco with a slate of 20 impact entrepreneurs to introduce them to folks in Silicon Valley, both for export purposes and for being acquired.
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
So both B corps and Figure 1 are touching the Asian markets.
Which Asian markets do you believe provide the best opportunities for our SMEs?
Ms. Ramji.
4:10 p.m.
Director, Legal and Business Strategy, Figure 1
From my end, India was our first entry into the Asian market. We strongly believe that India has a lot to provide with regard to health care professionals. We're also looking at China, Japan, and other larger markets.
4:10 p.m.
Conservative
4:10 p.m.
Managing Editor, SocialFinance.ca, and Communications Associate, MaRS Centre for Impact Investing
With regards to the work that we do with SMEs, because of the fact that a lot of it is impact-based, India is a big player for us. On the B corp side of things, because of the high value added, as Mr. Davies mentioned before, we are looking more at developed countries in that region. We are looking at Japan, South Korea, that sort of thing.
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
Ms. Ramji, what are the target markets for SMEs in your sector?
4:10 p.m.
Director, Legal and Business Strategy, Figure 1
In our sector, I think any of the large global markets are going to be the target. Any of the BRIC countries, and of course Canada and the U.S., are great markets because there are people there with access to technology.
March 23rd, 2015 / 4:10 p.m.
Managing Editor, SocialFinance.ca, and Communications Associate, MaRS Centre for Impact Investing
I would echo what Ms. Ramji says.
4:10 p.m.
Conservative
Devinder Shory Conservative Calgary Northeast, AB
Ms. Ramji, my colleague Mr. Leung talked about barriers in Asian countries, specifically with [Inaudible—Editor]. It seems that you've been to India very recently. When you talk about a 1.2 billion population, of course, it's a huge market, but at the same time I believe SMEs need foreign partners to be successful in those kinds of markets. What is your strategy to find those partners?
4:15 p.m.
Director, Legal and Business Strategy, Figure 1
We went with a delegation from Ryerson University on our last trip to India and our in-country launch, and they helped introduce us to some of the strategic partners that we should have in the countries. We also worked with the trade commissioner service to find some strategic partners. The partnerships that we are looking for are with respect to hospitals and health care organizations, and not necessarily companies that might want to acquire or want a piece. That's not what we are looking for. That's not the type of strategy we are using in that market.
4:15 p.m.
Conservative
The Chair Conservative Randy Hoback
Okay, Mr. Shory, we'll call it quits there.
We'll move on to the NDP. I have Mr. Morin and Ms. Liu.
Ms. Liu, I understand you are going first.