According to estimates, the public sector accounts for nearly 10-20% of the world’s GDP. While there are projects and opportunities aplenty in the public sector, making headway into the bureaucratic red tape isn’t an easy task for many companies. A search engine designed especially for public sector tendering is out to change that. The portal, called Oppex, has been officially launched this week by a team of Helsinki-based professionals. With the launch comes the announcement of US$1.5 million by way of seed funding, which is being invested by multiple companies.
The companies investing in Oppex are: Alma Media (a media company), Veturi (a startup accelerator), Tekes (a Finnish fund), and seven angel investors.
Speaking of the idea behind this portal, CEO of Oppex, Ville Heinonen, said that the public sector has massive sales opportunities that aren’t even known to a number of companies.
Heinonen said that companies often fail to bid for promising public sector projects even in their home countries, because of this lack of awareness. Needless to say, cross-border deals are even harder to negotiate. This is where Oppex hopes to bring about change by helping companies find new businesses and earn higher revenue from projects that exist in the public sector worldwide.
The portal allows companies to search for tenders and sales opportunities. In addition to this, the portal also comprises a database of public sector tenders that is updated continuously. According to the latest figures, the search engine had about 3.5 million listed tenders for the public sector. All of these tenders are translated into English, using specially-designed software. This, the company feels, will open up many new opportunities for companies located across the world.