In fall 2019, Business Finland’s US team grew with two practitioners focused on helping Finnish startups enter and thrive in the US. The size of the market and the availability of capital attracts a continuous flow of companies, but there is a high demand for a helping hand in entering the market, known for its unique business culture and for the potentially large price tag.
The new Senior Advisor for Startups & Digitalization, Niklas Kiviluoto, now explains how the team can help FiBAN investors’ portfolio startups successfully enter the US market.
Market Entry Coaching and Advising
We’ve been there ourselves and seen it over and over again. Because of this, we can help the startups get ready and highlight the things where doing business in the US differs to that of home - the do’s and don’ts so to say. We are happy when our Finnish startups grow and thrive over here.
Regardless of the problem, we will help the startups find the right experts to solve it. Whether it´s about simple things as incorporation, taxation, healthcare, or contract localization to more complicated industry-specific matters, we have the right contacts. Some of these can be found directly on the Expert Search platform, but it’s always good to check directly with the team.
Depending on the startup’s focus, we might be able to introduce them to potential customers, partners, thought leader, and investors. Give us a shout-out of any potential startups in your portfolio and if they are also looking to fundraise, make sure they have a profile on Dealflow.
These take no equity, but instead offers the program for a fee of around €25-40k for a 3-4-month full-time program. A program focused specifically on US fundraising is also planned for the first half of 2020.
Funding for internationalization
There are several funding options available for the startups to use for internationalization. For example, Tempo offers up to €50k for participating in an accelerator program, Market Explorer offers €10k for hiring local market experts, e.g. for conducting a market study, and the Exhibition Explorer offers up to €30k to exhibit at a trade fair to market-test the product and to build those valuable personal networks.
We hope we get to work with you or some of your startups here in the US, do not hesitate to reach out if there is any way we can help.
Business Finland’s US startup team