Prospectus, an Irish-based strategy consultancy, has signed a joint venture agreement with international consulting company COBA Technology to provide a new service to help Irish software companies get their products to international markets quickly.
COBA Technology, part of the Nasdaq-quoted COBA/Renaissance group, has pioneered a service which allows software firms to exploit new markets by setting up worldwide licensing agreements and identifying profitable joint ventures.
A recent joint survey of the Irish software industry by Forbairt and Prospectus found that access to suitable distribution channels was the primary barrier preventing indigenous software firms with less than 50 employees from growing their international activities.
For software firms with between 21 and 50 employees, this was identified as even more of a barrier than skills shortages.
"For many Irish software companies, the creation of an international expansion programme requires a significant capital and management commitment," said Mr Tom O'Connor, manager of Prospectus.
"However, establishing licensing programmes, joint ventures or strategic alliances can provide a more rapid and lower cost route to accessing new markets."
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)