Estudio 7, International Group from Canary Islands to the World
This International Group has more than 40 years´ experience in Spain, but they have also developed some protects in other European countries, Africa and Latin America. During these years they have built up their service portfolio and they have acquired a solid experience in their sector.
"...it is even harder in the service market because to take part in any official procedure in which certifying is required, it is necessary that the company is registered in the country, so many times it is necessary to find alliances with local companies."
It is a company that provides professional services in the engineering sector and the energy sector, and it is also a consulting firm for the touristic sector, specialized in the creation and development of touristic products. It has acquired a good reputation in the market by offering a multidisciplinary guidance to each client and by offering and integral vision to each project. Having a vision defined by its seeking for innovation, Estudio 7 has gone on one side for the design of new technological tools which help in the design and monitoring of works, by registering a patent for an app included in their service portfolio, and on the other and they have gone for the internationalization of their services.
Having developed their career in such a particular place as the Canary Islands, Estudio 7 has gained a valuable experience because they had to adapt to a complex environment due to the orography of the islands and its distance from mainland Spain, which implied the necessity of generating self-sustaining energetic and water supply systems, but above all they had to learn to combine the development of their products with the huge amount of tourists that visit the islands every year. The islands ´reality is closely linked to those tourists, almost 13 millions, and their necessities. For example, when planning the city it was necessary to take into account how the tourists were going to get to the commercial areas, that means that for each action it is necessary to have into account touristic criterion, which is not the case in other cities.
This especial characteristic has prepared this company in such a way that they can now export their knowledge to other places with similar necessities regarding energy, water, tourism and coastlines. For that reason Estudio 7 decided to include the international expansion in its business strategy two years ago.
Initially, it was very demanding to delimit the proper markets and to define the right procedures for a well designed internationalization plan, and to make a good use of their knowledge and experience as a consulting firm specialized in this industry, and using that knowledge to face the economic and financial challenges across the world. But eventually, with the support of the Canarias Aporta program in 2016 they managed to reach markets in Mexico, Panama, Los Cabos and Cuba.
They are currently developing three projects in Mexico, one in the pacific coast and two in the Caribbean. In Panama, Estudio 7 is in the middle of a project for the creation of a cruise terminal, and in Cuba, they are one of the main candidates, together with some other companies, for the concession of the old Hemingway Marina project.
Evidently, we found some problems when taking the leap to other markets. Actually, it is even harder for a company selling services because to take part in any official procedure in which certifying is required, it is necessary that the company is registered in the country, so many times it is necessary to find alliances with local companies. In any case, the internationalization has been worthy because the new markets offer new challenges to face and to learn from, and of course it offers new market niches to expand your business.
Agustín Roso Hernández
Senior Consultant and Chief Executive
Tel: + 34 928 29 13 08
Translated by Daniel Palacios Martínez, March 9th 2018