http://www.techcelerate.venturesHelping tech companies raise equity investmentWhile its dominance in global VC funding is being curtailed, the US is still a leader in innovation investments. In 2017, 53% of the $160 billion venture capital invested globally was invested in the US.
Question the Questions
Applying some Socrates to your US expansion plans
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Who is leading your team?
Who is on your US advisory board?
How do you set up in the US?
How do you protect your IP?
Where will your office be?
Which taxes are you liable for?
How do you build a talented team?
How can you successfully fundraise in the US?
Who is leading your team?
If the US is your most important market, it merits a key member of the
core team. Who will you send over from Europe to build up culture?
"Americans love an underdog story, but they want to hear it from the hero's mouth."
The choice of US lead is critical: You need someone trusted by the CEO to build, sell and have complete dedication
to the effort. We've written before about the various lessons learned by over 50 VC-backed CEOs in the US, and the
consensus around one particular issue is clear: CEO and/or Founder
DNA is a necessary - if not sufficient - condition for success in the
US. When asked about the #1 insight the CEOs tell other
entrepreneurs about entering the US, the most cited phrase was
a variation of "a founder has to move to make it work."
It's a point worth emphasizing, given its importance to your
success at home and abroad: If you cannot spare a key member of the team, the domestic business is likely not
ready for the expansion; if you cannot have a key member of the team on the ground, the US operation is likely to
suffer on a variety of fronts:
US customers will be less likely to trust
your commitment to this market.
Market credibility and signaling commitment are
important given the level of competition in the US.
purchase products and services from local companies.
The internal culture is likely to diverge -
and suffer.
Culture is critical for hiri