Many start-ups fail because they don’t consider business opportunities outside their domestic market early enough in their development. This fact is especially germane in today’s rapidly transitioning global economy.
Emerging businesses often believe they don’t have the resources to expand effectively. They lack information about international processes and market research, and they experience difficulties obtaining financing and overcoming strong foreign competition. Incubation programs are uniquely positioned to address such challenges because they already provide frameworks for business mentoring and counseling. Incorporating international assistance is a natural extension of valuable services for your client companies.
If you would like to learn more about developing programs to prepare client companies to enter foreign markets, either from abroad into your domestic market or vice versa, you won’t want to miss Business Incubation in a Global Market, a new workshop developed for NBIA’s Training Institute. This workshop will show you how to leverage critical resources, evaluate clients, gauge market conditions and determine whether your program is best suited to launch companies, receive them or both.
Entering international markets requires companies to have a well-executed plan and to leverage existing resources – two areas where incubator managers can help. This workshop will help managers identify programs and incentives available in various countries to support global initiatives as well as services they can provide to help companies go global. Using these resources, you can minimize the time and money it takes to help clients learn how to navigate international markets or policies.
Incubator assistance with international expansion varies from no direct assistance with an emphasis on referrals to broad direct assistance with selecting foreign markets, protecting IP and financing export growth.
NBIA’s Soft Landings International Incubator designation signifies incubators that provide comprehensive services to nondomestic firms. This workshop will describe specific criteria to earn NBIA’s Soft Landings designation and ways to leverage the NBIA Soft Landings network and other similar organizations to help you build a robust program faster by learning from existing successful programs.
Workshop trainers Tom Strodtbeck, NBIA’s director of events and international programs, and Ana Greif, NBIA’s international programs development officer, will help attendees analyze client needs and evaluate regional market conditions to determine whether companies in a small domestic market would benefit from global outreach or if nondomestic companies could fill a gap in the domestic market.
Business Incubation in a Global Market will be held Tuesday, Oct. 2, from 9 a.m. to 4 p.m. at the InterContinental Hotel in Milwaukee as part of NBIA’s 22nd Training Institute. For more information or to register, visit www.nbiatraininginstitute.org.—Bridget Lair
Keywords: International incubation, Seminars and training programs, Professional development – general, Incubator management – general, Leadership development, NBIA programs, Soft landings
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