Regulation · Fundraising

Advice for bringing a company to the USA?

Nick Gray Co-Founder / Sales / Data Architecture

January 26th, 2016

I'm the co-founder of a B2B company with a unique tech. product for the Recruiting industry. 

We have developed our product from our base in the UK over the past three years and think it to be both highly investable and relevant to the U.S. market. 

Can anyone please offer any advice as to the best way to get into the US? We are specifically worried about U.S. regulations, working Visas, plus finding & dealing with Investors. 

Thanks for your suggestions. 
As a founder, you’re always in fundraising mode (whether active or passive). In this course, we’ll teach you how to successfully raise follow-on capital, establish a valuation for your company, build an investor pipeline for your next round, and more.

Hai Habot Growth | Business | Marketing

January 27th, 2016

Based on my experience helping a large number of startups that were founded outside the US (mostly in EUR and Asia) with their US market penetration - the answer really depends on your specific needs and what you define as "get into the US". 

Operating in different markets has implications around legal matters (IP, tax, ownership, subsidiaries, control, immigration), financials (tax again, hiring locally, costs, etc.) and most important growth and go-to-market (i.e. what it would take to grow your business from a marketing/bd stand point and what talent/support you need to get there).

The key is to first understand why you want to "operate" in the US (is it because your customers are there? because you prefer US based investors? want to hire key employees? ,etc.)? and what "operation" really means in your specific case, since there is an entire spectrum between having a US address on your site (and maybe a local contractor doing some BD work for you) to changing the corporate structure of the company, taking money from US investors and hiring local team members on your payroll. 

In most cases it makes sense to take things a step at a time, first answer these two main questions and then figure out the right structure an go-to-market plan. without it, you might end up spending too much time and money with lawyers (if you are already there, glad to recommend a few names who will gladly use your money and time).  

Feel free to DM with more info or specific questions and I'm glad to help or point you in the right direction.

Patrina Mack Experts in global commercialization

January 26th, 2016

A good way to come to the US is to join a mission sponsored by one of the country’s trade organizations or local incubators.   You will come over, be introduced to a number of resources locally and decide who might work for you.   These resources will range from attorneys, accountants, marketing experts, and VCs.   There are a number of law firms that specialize in immigration - www.mj-law.com is one of them.

 

It’s unrealistic to expect that you will find a “marketing” resource who will want to invest cash or sweat equity in your company so it’s critical that you have funds to bankroll your expansion to the US.   We’ve benchmarked (http://www.slideshare.net/visionandexecution/entering-the-us-survey-resultsv4) this and the companies who are most successful get funds for expansion in their home country and then raise more funds after they’re here and have US sales traction.  In other words there’s a poor likelihood a US investor would invest until you have US sales.

 

For market expertise they are tons of consulting firms/consultants who focus on exactly what you need:  local market expertise to gain traction in the US.   In our benchmarking study we found that companies who hired local resources (paid their consulting fees) fared the best.  My firm is one of those consulting firms specializing in helping companies come to the US.

 

Good luck!

 

Hai Habot Growth | Business | Marketing

January 31st, 2016

Nick - I happen to be in London this week, ping me via email in case you want to catch up

Nick Gray Co-Founder / Sales / Data Architecture

February 1st, 2016

Many thanks Josh - LI request sent and I'll be in touch. We need some good links with Recruiters in the U.S.

Michael Cappucci

January 26th, 2016

Hey Nick, There’s a firm in Boston that specializes in helping foreign firms navigate market entry in the US. Could be worth a conversation and happy to intro it if it’s of interest. Thanks, Mike

Scott McGregor Advisor, co-founder, consultant and part time executive to Tech Start-ups. Based in Silicon Valley.

January 26th, 2016

I work with companies that can help you sign up US distribution partners. Contact me if this is of interest. Scott McGregor, mcgregor94086@me.com, (408) 505-4123 Sent from my iPhone

Scott McGregor Advisor, co-founder, consultant and part time executive to Tech Start-ups. Based in Silicon Valley.

January 26th, 2016

I work with a couple of companies who bring innovative products like yours to new markets. One, Center for Innovation Comercialization brings a lot of International Companies to US C-suite execs. The other, PointGreen Business, helps US companies get started in Europe and the Middle East. If you would like to explore partnering with their one, contact me and I will get you connected. Scott McGregor, mcgregor94086@me.com, (408) 505-4123 Sent from my iPhone

Gary O'Neal Austin HR Recruiting Director | Executive Recruiter | Technical Recruiter | Talent Acquisition | gary@austinhr.com

January 26th, 2016

Hi Nick,

We have a great network of entrepreneurs, investors, business professionals, technologists and startups here in Austin. There's no doubt that you'll find friendly people who will help. 

If you have plans to travel to the US, then come visit Austin, Texas. I'm happy to help you get connected. 

Best,
Gary O'Neal

Lucie Newcomb Global Marketing & Business Development Leader | Founder| Strategist | Board Member | Advisor | Trainer | Diplopreneur

January 27th, 2016

We generally work according to Patrina and Hai's advice. In fact, we generally build inbound trade missions around an anchor event, such as DreamForce. But your activities seem to have progressed beyond these preliminary investigations and the space you're working in is highly regulated on a per State basis; California, perhaps the most.

We would recommend additional, regulatory research with a view to launching on a pilot basis, well before establishing a presence here. Of course, we at NewComm Global would be happy to help. Great luck!

Nick Gray Co-Founder / Sales / Data Architecture

January 30th, 2016

Damir - thanks for the advice, I'll check it out.