Electronic trade missions involving Irish software companies and companies based in Massachusetts are expected to result in a number of distribution and strategic partnership arrangements between the companies involved. The second trade mission in a series of six took place yesterday when five Massachusetts-based companies in the Internet field made presentations through a video-link conference to eight Irish companies.
The trade initiative, launched by the Massachusetts Office of International Trade and Investment and funded by the Boston-based State Street Bank, started last June when four Irish companies made presentations to 12 US companies. Of the four companies, two are currently in active negotiations with US companies.
An electronic trade mission is based on the use of high-tech video-conferencing equipment to link companies based in the US with participants based in Ireland. Participants are able to discuss industry issues and investigate potential joint ventures by attending a designated conference centre.
Mr Maurice Weinberger, a business consultant brought in to advise the State of Massachusetts on new trade initiatives, said he expected at least one or two new contracts from yesterday's conference. He declined to disclose the names of the companies currently in discussions.
Irish companies who have taken part in the video conferences include IT Solutions, CHL Software, Webfactory, Internet Business Ireland and New Century Media.
