{"id":779,"date":"2017-04-11T15:45:17","date_gmt":"2017-04-11T13:45:17","guid":{"rendered":"https:\/\/www.textmaster.com\/blog\/?p=779\/"},"modified":"2018-04-19T15:45:01","modified_gmt":"2018-04-19T13:45:01","slug":"internationalization-startups-worldwide","status":"publish","type":"post","link":"https:\/\/www.textmaster.com\/blog\/internationalization-startups-worldwide\/","title":{"rendered":"International Success of Startups Worldwide"},"content":{"rendered":"

There are thousands of new businesses created each year all over the world. While lots of them don\u2019t make it in the long run, there are some beautiful success stories that we can learn from. Let\u2019s take a quick look at how ambitious startups handle their internationalization!<\/strong><\/p>\n

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\"Startups<\/h2>\n

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1. Startups are highly internationalized compared to older businesses<\/strong><\/h2>\n

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According to a recent report from Crane Venture Partners on the internationalization of high-growth startups (more than 88% being funded or headquartered in the US), almost 90% of them have an international presence<\/strong>. Even if takes 5.5 years on average for those companies to launch internationally, we have noticed that the more recent the startup is, the sooner it accelerates its global presence. It took more than 10 years for a company established before 2000 to go global, while businesses funded between 2006 and 2011 only waited 3 to 4 years.<\/p>\n

What\u2019s also very interesting is how US and non-US companies approach internationalization very differently<\/strong>. Non-US companies take between 1 and 2 years on average to expand globally! This can be explained by both the smaller size of their home markets and a typically longer technology adoption curve. It\u2019s no surprise that the United States still leads the market for tech startups.<\/p>\n

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\"English-speaking<\/h2>\n


\n2. English-speaking countries are top-ranked when it comes to global expansion<\/strong><\/h2>\n

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Whether those startups were funded in the U.S. or elsewhere, they all choose a city in an English-speaking country to launch their international business<\/strong>. U.S. companies have a strong preference for London: 80% of them pick the English capital as their international starting point. London\u2019s Irish neighbor Dublin comes next, and third place on the podium is taken by Montreal in Canada.<\/p>\n

Moreover, non-US companies don\u2019t even hesitate: San Francisco, New York or Boston seem to be the obvious choice for them. This shows how English still has a huge hegemony over business worldwide<\/strong>, particularly within the domain of tech startups. English is indeed the dominant language on the Internet<\/a>: almost 26% of online users speak English, 53% of website are available in English, and it\u2019s also the language with the highest purchasing power online.<\/p>\n

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\"Why<\/h2>\n

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3. Why do new companies take the risk of internationalization?<\/strong><\/h2>\n

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Yes, going global as a young company can be risky<\/strong>. Sometimes startups don\u2019t know how to sell their service, efficiently communicate it or handle the laws and regulations in their home country so expanding to a foreign market may seem like an insurmountable challenge. So why even try? Because big rewards come with big risks.<\/p>\n

Global expansion represents a huge revenue growth opportunity for companies<\/strong>, and that\u2019s the main reason why startups take the chance. It also allows them to diversify revenue sources, and therefore, the risks. Finally, companies that go global quickly can keep their strategic position as a technical leader and sustain their competitive advantage in an increasingly aggressive market.<\/p>\n

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\"Startups<\/h2>\n

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4. What your startup should think about when going global<\/strong><\/h2>\n

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As previously mentioned, internationalization comes with its own risks<\/strong>. A young company must find a balance between its core values and culture and the need to adapt all of those to every market. Customer requirements, costs, resellers, political and economic context are different in every country, and you can\u2019t expect everything that worked at home to translate everywhere else. Everything needs to be thought through in advance with patience and consideration of every detail:<\/p>\n