Starting an IT Global Company From Latin America Constanza Nieto Founder and CEO Globaltech Bridge
Starting an IT Global Company From Latin America
Constanza Nieto Founder and CEO Globaltech Bridge
About Globaltech Bridge
• Based in Silicon Valley, California • More than 7 years in business • Helping 100+ Latin American companies
• Build strategies to expand • Get clients and partners in the US • Get funding
• Helping US companies • Get partners in Latin America • Get Investment opportunities
3
The Silicon Valley
Starting an It Global Company The Process 1. Make innovative products 2. Monitor the Global market 3. Identify your competitive advantages 4. Choose a market 5. Build a go to market strategy 6. Validate the opportunity 7. Get a team 8. Get your first customers 9. Plan to scale 10. Get the funding
1 Ideal Product or Service
Must solve a big problem To a big market With sustainable competitive advantages ( Innovative ) Big problem: Must have / nice to have Big market: Billions of dollars Innovation: Product / business model / segments/
distribution, etc
1.1 Finding Innovation
Some Sources of innovation • Solutions already made • Identify new problems
• Talk to Your customers • Talk to other industries: health care / retail / agriculture
• Talk to smaller / larger clients
Make multidisciplinary teams open innovation
..
1. 2 Look for Solutions
All over the world !! • Are they solving the problem? • Partially ? • How much penetration? • Other segments? • Patents? • Is the market big enough? And growing?
1.3 Build Sustainable Competitive Advantages
Compare your solution Identify your competitive advantages How hard is for your competitors to copy you? ( Price is not sustainable) High entry barriers • Intellectual property protected • Market share : Grow as fast as you can • Your Team: Protect your team- Share your
company
1.4 Test your ideas
Prototype
Talk to Customer
Improve/Prototype
Get the first users
Improve again
Launch in your local
market
As soon as you can ( Lean Start up- Model)
2. Monitor Global Market
• Identify new trends • Key players and main solutions
• Big solution providers • Competitors • Channels • Influencers • Clients
• Where to find them • events / blogs / Linkedin groups
3. Competitive Advantages
• Make a competitive chart • Product • Segments • Business models and pricing • Channels • Company
• Oportunities and treaths
• Identify the segments • events / blogs / Linkedin groups
4. Choose a market
Easy to penetrate / more need/
more competitive advantages Cloud = USA?
Create a Global company 1. R& D ( in your home country) 2. Manufacture ( China) 3. Customer support (remote- cloud) 4. Market and sales strategies ( USA)
5. Initial Go to Market Strategy Business Model Canvas
Initial segments Value proposition for each segment Business model and pricing/segment Channels : internet, direct sales , distributors How to reach them
• Events, Web sites- SEO, Blogs. • Marketing on line : Google adds, Twitter,
Facebook, LinkedIn , etc.
6 Validate in the New Market
Adapt
Talk to Customer
Improve/Product
Get the first users
Improve again
Get the first customers
7. Get a Global Team
Get partners - Not employees 1. Local VP of Marketing and Sales 2. Lawyer 3. Engineering ( Colombia) 4. Board of Advisors 5. CEO? Share the company!
8. Get your First Customers
• Protect your IP • Create a legal structure • Alfa and Beta- reference • First channels • Get some traction • Get the first revenue
.
9 . Plan to scale
Tune your marketing strategy Tune your products and services to scale - Cloud • Automatic sales • Delivery • Training (e-learning) • Customer support Make a product road map Make the number ( $$$) Look for the right funding
10. Get The Right Funding Alternatives for Colombian Companies
• Seed: Prototype- local validation: Friends &Family – Colciencias- Wyra- Innpulsa)
• First customers USA ?? Angels Colombia??? • First round traction USA: Angels USA • Worldwide growth: VCs-USA Grow as fast as you can!!
VC Investment by Industry
Copyright Globaltech Bridge 2009 19 Source: Price Waterhouse Money Tree Report Q2 2012
Total Q2 /12 = 7 B$
The Process
Home country 1. Make innovative products 2. Monitor the Global market 3. Identify your competitive advantages 4. Choose a market 5. Build a go to market strategy Global Market 1. Validate the opportunity 2. Get a team 3. Get your first customers 4. Plan to scale 5. Get the funding