How to Make It in the U.S.! | Wayra Germany | Summary and Q&A

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January 20, 2021
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Wayra
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How to Make It in the U.S.! | Wayra Germany

TL;DR

Learn how to successfully enter and build a business in the U.S., the world's largest market, with the assistance of the German Accelerator program.

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Key Insights

  • 🌍 The U.S. offers a larger market and easier scalability compared to Europe.
  • ✋ Cost of living, salaries, and expenses are higher in the U.S., especially in cities like Silicon Valley and New York.
  • 🏛️ Building relationships and networking are vital for success in the U.S. market.
  • 👨‍💼 Startups should focus on metrics and understand their key business metrics to attract investors and scale their businesses.
  • 😘 While Silicon Valley is an innovation hub, startups can also find opportunities in other U.S. cities with less competition and lower costs.
  • 🧑‍💻 Industries such as SaaS, fintech, short tech, and sustainable products are currently gaining traction.
  • ❓ The U.S. market is attracted to startups with unique, innovative offerings.

Questions & Answers

Q: What support does German Accelerator provide to startups?

German Accelerator offers market knowledge, networking opportunities, and benefits such as AWS credits and co-working spaces in the U.S. and Southeast Asia.

Q: Is it necessary to go to Silicon Valley to succeed in the U.S. market?

While Silicon Valley is a hub of innovation, it is not necessary for all startups. Other cities like New York, Atlanta, and Miami offer opportunities with less competition density and lower costs.

Q: How important are relationships in entering the U.S. market?

Relationships are crucial in the U.S. market as it is a relationship-driven environment. Building a network and cultivating relationships with potential partners, investors, and customers is essential for success.

Q: What industries or business models are currently gaining traction in the U.S. market?

Software-as-a-Service (SaaS), fintech, short tech, and sustainable products are some of the industries experiencing growth. Investors are also interested in cutting-edge technologies like blockchain and artificial intelligence (AI).

Summary & Key Takeaways

  • German Accelerator has helped nearly 300 startups, which have collectively raised almost $5 billion in funding, enter the U.S. and Southeast Asian markets.

  • They offer programs that provide market knowledge, networking opportunities, and benefits such as AWS credits and co-working spaces.

  • It is recommended to go to the U.S. as soon as possible if your product or service has potential there, as the market is much larger and offers greater scalability.

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