The US is not only tempting startups with the myth of Silicon Valley, but also with a lot of risk capital and a very large unified market. For more and more Austrian start-ups, the next logical step for expansion is not necessarily a neighboring country.
But the jump over the pond. Außenwirtschaft Austria supports startups in this step with, among other things, a market entry program, the Pitching Days New York.
Onward journey to SXSW possible
For the multi-day trip to the US city, the foreign trade and the aws (i2 Business Angels) organize a lavish program of lectures and coaching sessions by US founders and startup experts. At the end, there is a pitch event ahead of US investors. And anyone who wants can travel on directly to the big innovation festival SXSW in Austin.
The costs for the program in New York are borne by the Young Economy of the WKÖ for the selected participants. The travel expenses and the possible participation in the SXSW are to be paid by yourself.
Legal Foundations, Fundraising, Growth
The trip will start on March 4 and includes visits to Accelerators, Incubators and VCs. According to foreign trade, a BIS boot camp at the renowned venture capital law firm McCarter & English, which will also be on this third trip to New York, was particularly well received. The program also includes an introduction to the startup ecosystem in New York, fundraising and growth strategies for the US, and the presentation of VCs.
The program is aimed at startups that already have a mature business concept, a certain track record and now plan the US market entry. Thematically, the focus was on Software-as-a-Service, Fintech, Adtech, Media, Life Sciences & Medtech, E-Commerce-Tech and Edutech. The eight participants in 2019 were determined on Wednesday evening at a pre-pitch event by an expert jury.