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
Starting an It Global CompanyThe Process1. Make innovative products2. Monitor the Global market3. Identify your competitive advantages4. Choose a market5. Build a go to market strategy6. Validate the opportunity7. Get a team8. Get your first customers9. Plan to scale10. 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 haveBig market: Billions of dollarsInnovation: 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 CompetitiveAdvantages 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 As soon as you can ( Lean Start up- Model) Prototype Launch in your Talk to local Customer market Improve Improve/ again Prototype Get the first users
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 company1. 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 CanvasInitial segmentsValue proposition for each segmentBusiness model and pricing/segmentChannels : internet, direct sales , distributorsHow to reach them • Events, Web sites- SEO, Blogs. • Marketing on line : Google adds, Twitter, Facebook, LinkedIn , etc.
6 Validate in the New Market Adapt Get the first Talk to customers Customer Improve Improve/ again Product Get the first users
7. Get a Global TeamGet partners - Not employees1. Local VP of Marketing and Sales2. Lawyer3. Engineering ( Colombia)4. Board of Advisors5. 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 scaleTune your marketing strategyTune your products and services to scale - Cloud• Automatic sales• Delivery• Training (e-learning)• Customer supportMake a product road mapMake the number ( $$$)Look for the right funding
10. Get The Right FundingAlternatives 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 Total Q2 /12 = 7 B$ Copyright Globaltech Bridge 2009Source: Price Waterhouse Money Tree Report Q2 2012 19
The ProcessHome country1. Make innovative products2. Monitor the Global market3. Identify your competitive advantages4. Choose a market5. Build a go to market strategyGlobal Market1. Validate the opportunity2. Get a team3. Get your first customers4. Plan to scale5. Get the funding