Harrison Duhr’s Post

When and how UK and European founders should expand to the US? By Sara Rona, MD, Head of Europe, MENA & ANZ, Global Gateway at SVB & Daniel Glazer, Managing Partner, Wilson Sonsini Goodrich & Rosati Our key takeaways: ⏰ Timing is crucial: "Go early or go late... A SaaS company might want to get their service in the US market early, while a consumer company may wait until they have significant revenues and product/market fit in their home market at the onset." 🌎 Cultural differences in Pitching: "US investors are interested in a clear story about ‘how’ the business is going to achieve unicorn status, and what KPIs they’ll meet to get to a path of profitability." 💰 Cost considerations: “By far the biggest expense in the US is talent... UK and European businesses expanding to the US will find the cost of doing business to be higher, but if they have US product-market fit the commercial upside typically far exceeds those incremental costs.” Read the full article here: https://lnkd.in/eSw8Z-E3

I am thrilled to share the second part of my series on US Expansion! A huge thank you to Daniel Glazer from Wilson Sonsini Goodrich & Rosati and David Rose from US Expansion Partners for sharing their strategic insights on this topic. Some key takeaways: ⏱️ Timing and Strategy for US: It's essential for UK and European entrepreneurs to determine the right time to enter the US market, whether early or late, depending on their industry and market conditions. Timing should be strategically aligned with product-market fit and funding requirements. 🤝Building Relationships with US Investors: For those looking to raise venture capital in the US, developing strong networks and getting warm introductions to the right investors is a game-changer. Understanding how to pitch to US investors, who often look for bold growth plans and are willing to take bigger risks, is vital for success. 💲Navigating Higher Costs and Legal Considerations: Entering the US market comes with increased costs, especially in hiring talent and adhering to local employment laws. Setting up a US subsidiary can help mitigate risks and ensure compliance with US tax laws. Seeking expert advice is important to manage these challenges effectively. Check out the full Silicon Valley Bank article here for more details: Chad Williams

An excellent event on Wednesday at Garage Society, hosted by Angelflow and featuring Sean Greenhalgh, TJ Yen and Lui Tong. Turn out was immense - I am reliably informed they had to deny some people! - and the content was meaningful. In my experience, the angel situation in Hong Kong has seemed dire. Hong Kong gives off the odour of a risk-averse Series A town despite the push to encourage start-ups here. That never made sense to me, as Hong Kong is still one of the best jurisdictions in which to start a business. Both TJ and Lui gave meaningful insight into the angel process, how they approach risk and reward, access deal flow, and a little history into how they ended up as angels. I made plenty of notes in the form of Notion to-do items as I prepare to return to the gate later this month on an investment push (now I have a product in the market, entirely bootstrapped). There were some things I thought were missing. I would have liked a little more nitty-gritty on subjects such as typical investment amounts and valuations and, for syndicates, how these deals are structured, for example, whether they use Special Purpose Vehicles. This event is being held because Sean, whom I am privileged to consider a friend and a named advisor to meed is launching Angelflow, a platform that allows for the easy creation of angel syndicates. This is beyond welcome. We need more early-stage pathways for businesses with investment structures that allow for inherently greater risks - and rewards. If Hong Kong is to be a start-up town, then it needs more genuine start-up capital options. Photo courtesy of Eric Tong.

Sydney: Leading the Way in Business, Startups, Innovation, E-commerce, and the Stock Market Have you ever wondered how Sydney maintains its edge as a global city in the competitive worlds of business and innovation? Our comprehensive Business Case Study on Sydney explores: 💼 Financial Hub: Discover how Sydney contributes over 25% to Australia's GDP and hosts major financial institutions, including the Australian Securities Exchange. 🚀 Startup & Innovation Scene: Learn about Sydney's booming fintech and AI startups fueling economic growth. 🌐 E-commerce & Digital Transformation: Understand how the city embraces technology and smart city initiatives to stay ahead. 📈 Stock Market Influence: See how Sydney plays a pivotal role in the Asia-Pacific financial markets. 🌿 Sustainability Initiatives: Explore Sydney's investment in green energy and environmental sustainability. Can Sydney's strategic focus on Business, Startups, Innovation, E-commerce, and the Stock Market keep it at the forefront of global cities? 👉 Read the full case study here: https://lnkd.in/dnxFzkeX #Sydney #Business #Startup #Innovation #Ecommerce #StockMarket #CaseStudy #BusinessGrowth #Sustainability

Fully agree with Victor Zhang P.E.: "It’s important to understand that most PropTech customers are looking for technologies that aggregate processes and cut down their tech stack rather than adding new layers. Many of these customers don’t have the people resources to deal with new software implementations. They are looking to buy one new software that can replace two others. It’s critical for founders to cultivate a deep understanding of competitive landscapes and get familiar with customers’ current tech stacks and integrations."

📰 Just Released: MetaProp’s Mid-Year 2024 Global PropTech Confidence Index Sponsored by PwC and presented by REBNY (Real Estate Board of New York), and RICS, this bi-annual report highlights key trends shaping the global PropTech landscape, offering insights to investors, entrepreneurs, and real estate executives on the sector's evolving challenges and opportunities. In a recent interview with Commercial Observer, MetaProp Co-Founder and Managing Partner Aaron Block discussed the report’s findings and shared his outlook for the industry in the coming year: “There’s a lot of watchful waiting from the investment community that is neither super-bullish nor super-pent-up. In fact, it can act a bit more rosy than one might expect if you’re an outside non-venture observer, and certainly if you’re a real estate observer." On the prospect of entrepreneurial growth, Block added, “I expect it to be robust. From a new startup creation perspective, we’re seeing folks who are technologists jumping in and building companies. We’re also seeing many real estate folks peel off their legacy roles and create tech-driven solutions to problems that they know better than anybody else." Read the full interview here: https://lnkd.in/eSfTCGMY 🔗 Download the Global PropTech Confidence Index here: https://lnkd.in/e4muq_eT #PropTech #VC #venturecapital #insights #realestate #realestatetech #globalproptechconfidenceindex #GPCI

Miami is now competing with — and in many respects surpassing — global markets. It has become a destination where business owners, investors, and industry disruptors can collaborate, grow, and thrive together. This is reinforced by multiple rankings and awards including the recent designation as a national ClimateReady Tech Hub by the U.S. Department of Commerce’s Economic Development Administration, or Miami’s #16 ranking in Startup Genome’s Global Startup Ecosystem Report 2024 (up 7 spots year-over-year). Lauded for the welcoming, collaborative nature of its pro-business community, high-net-worth individuals are finding financial success in Miami while actively contributing to its evolution as a world-class business and innovation hub. Citadel’s founder and CEO Kenneth C. Griffin, Related Group’s founder, Chairman, and CEO Jorge M. Pérez, businessperson and philanthropist Adrienne Arsht, Lennar’s Executive Chairman and Co-CEO Stuart Miller, healthcare investor, inventor, and founder Dr. Phillip Frost and Governor Patricia Frost, and others have all made transformational investments in this community. These gifts have changed Miami’s DNA, accelerated its growth, and established it as a place to thrive, succeed, and shape the future of global business.

Why the US…? What’s all the hype? Well if your startup is built to scale. That world can be your oyster. Great to go 'On Tour' to New York with Howard Dawber Deputy Mayor of London for Business & Growth courtesy of Grow London and hosted by CIBC, where we brought some of London's most ambitious AI & EnterpriseTech firms to meet some of NYCs finest investors and corporates. In one of our sessions, someone said something that stuck with me: “You won't be a big fish in a big pond, you might not even be a small fish in a big pond… you’re most likely a small fish in a raging ocean.” And it’s true! The US market is a beast, and the success rate for UK startups making it across the pond is no easy feat. But the challenges come with opportunities and the potential for incredible growth. Love our sales masterclass with Amy Kalokerinos, hearing from Micah Boster on adapting your operations to suite the market, and the infamous Daniel Glazer whose firm took Google from incorporation to IPO, on the pitfalls to watchout for. A few things that stuck with me: - On Selling in the US - Get ready for a rapid reply. Avr US sales rep responds to a lead within 60 mins, Avr UK rep is happy to wait until the next day. - On Operational excellence - Get off your high horse, US firms want want your operating model to be US centric, if you don't adapt, don't expect business to stick with you - On the pitfalls - Lawyer-up. The complexities of the legal system, plus the aggressive sue-culture makes it an even tougher battle ground. Lots of learnings. Frankly upskilling on AI is becoming more prevalent globally and US firms are catching up fast. These are Future Skills we'll continue to keep elevanting at UpSkill Universe. Thanks for pulling this together Richa Ghai Chauhan, Stephen Feline, & (host with the most) Ben Shephard. Great to hang again with Joshua Wöhle & Dami Hastrup. #Entrepreneurship #UKvUS #VentureConnect #GrowLondonGlobal

Embracing change. Thanks to Commercial Observer for this article. Our favorite part of this article: "Whatever strategic or technological approach these power startups take, what’s in the end really driving them are their founders’ reputations. They can get calls returned; they can land clients; they can lure talent." BKREA - BK Real Estate Advisors is in good company with Darcy Stacom and Marty Burger. The future is bright and we're leading the way. Onward and Upward! 🚀 #bkrea #nycrealestate

⏮ Event Recap ⏮ Yesterday we were honoured to host the #ScaleUpBritain Tyneside Roadshow at our #2050InnovationHub in collaboration with the London Stock Exchange, Innovate UK and the ScaleUp Institute. Following the North East's recent mayoral election, it was the perfect opportunity to spark conversation on how key industry stakeholders can unlock investment and scaling potential in the region. 🔓 We kicked the morning session off with 3 informative keynotes, including the Port's Deputy Chair, Julia Prescot followed by Genius Foods Founder, Lucinda Bruce-Gardyne and rounded off by London Stock Exchange CEO, Julia Hoggett. ✨ After a lineup of #VenetureConnect showcase pitches, we moved swiftly onto panel discussions that covered business success stories, net-zero regional opportunities, SME investment advice and current landscape perspectives from investors. These panels were expertly moderated by Stock Exchange colleagues Florence K. & Bod Buckby. 🤝 Our wonderful cohort of 9 Venture Connect entrepreneurs returned after lunch to deliver their investment pitches to a select group of 3 investors: Nick Lyth, Thomas O'Neill and Mark Stoner. 📈 We'd like to thank the Port's own Dr Jo North & Jack Farrington for facilitating the event and invite any insight or feedback in the comments section below ⬇ #ScaleUpBritain #ScaleUp #RaisingPrivateCapital #PrivateMarkets #NorthEastScaleUps #Innovation #Cleantech #GreenInvestment #Decarbonisation #Maritime #Devolution #Startup #SME #Finance #NoOrdinaryPort #NoOrdinaryRiver