Marine Instruments: Spain
Winner of the the ELITE Award for Growth Strategy of the Year
Marine Instruments is a Spanish company focused on the design and manufacture of electronic equipment mainly for the fisheries sector. From its beginnings in 2003, it has experienced constant growth positioning themselves, in less than a decade, as the first manufacturer of tuna satellite buoys worldwide, with presence in over 25 countries.
1. What does it mean to you to win the European Business Award?
To win the European Business Award is a fantastic recognition for the whole team, an acknowledgment to our work and to our business growth strategy. It’s a great honor to our company to have won this award.
2. Has it changed anything for your business - will it change anything in the future?
It has changed the image and visibility of our business. Many companies in Europe know now what we do and how we do it and we firmly believe that the visibility of this award will help us find more new clients worldwide and accelerate our diversification strategy into new vertical markets.
3. What did you gain from going through the Awards process? For example, did writing the application focus you on your business strategy?
The award application made us focus on the strengths of our business, focus on the key aspects of our business strategy that brought us here and that made us grow exponentially over the last five years. We always articulated a very clear business vision but the award helped us to validate and emphasize the importance of maintaining that strategy in order to sustain our growth in the future.
4. Did the networking opportunities during the completion allow you make any new relationships/contacts/partnerships or clients?
We met a lot of interesting companies and businesses that will definitely help us broaden our network, and who knows if in the future there are potential opportunities arising from some of those contacts.
5. Would you recommend other businesses in Europe to apply? If yes why?
Yes. We would recommend it 100%, the entire process is an amazing experience. The Awards let you showcase your company at a European level and help you increase your brand value. What we really like about this award is that it is not only limited to big companies but small and medium sized companies like ours can also apply and win, getting instant visibility all throughout Europe.
6. What top tips would you give to a new company regarding:
- the entry form: focus on the strengths of your company, what makes you stand out from the rest, your values, your goals.
- the video: Make it simple and easy to follow. Just tell your story in a way everyone can relate to.
- the public vote: Share it in social media and other platforms.
7. What is the key to your success?
The key to our success is to focus on innovation, a constant desire to control the complete customer experience and our insourcing strategy. In times like these where everybody is betting on best cost countries for their manufacturing, we chose a very different path and decided that we wanted a tight control of the whole manufacturing process, including our main suppliers, from the idea designed by the engineer to the assembly of the final product.
8. What is the greatest lesson you have learnt in business?
The greatest lesson we have learnt in business is to listen carefully to our clients and try to develop solutions that allow them to work more efficiently, thus saving them time and money. We work hand in hand with our clients and we use all their feedback to develop our new products adapted to their needs.