International expansion may sound expensive, complicated, and too risky. But in today’s world some of these mindsets have been putted behind by several good cases showing that internet and technology are breaking all geographic barriers. StartUps are going global earlier, and if you are reading this article you probably want to know why! So stay with us, it is a 3 minutes worth-it reading!
You must heard about Uber, Buzzfeed, Spotify or Telegram right? Well, what these StartUps have in common is that they went global very fast! Uber, for example, is already present in 60 countries, and it is just 6 years old. Telegram was born in Russia and nowadays has over 100 million monthly active users! Spotify is a Swedish startup, but the majority of its customers is now in the USA. So why and how it happens?
Technology connects markets and turn them culturally agnostic. There’s a global culture propelled by the internet and it makes easier especially for technology companies to enter foreign markets. And thanks to automation, they also need less resources and capital than other industries to scale up.
The emerging markets offer scale! An example is the most popular ride-sharing startup in China: Didi Kuaidi. They have a market share of 78% and have 3 million daily car requests, while Uber has 1 million each day.
Some StartUps have found in international investors the solution for expanding. They already know the local law and have also better know-how regarding the market. And if you need some help on choosing the right country, this article from Velocity Global can certainly be useful!
If you are thinking about going international, you are probably doing some research before taking the first steps. So how about having somebody at your team that actually knows the market in the country or region you want to expand to? Or people with more facilities on researching about it as they can have access also to information in the local language? Imagine how would it be to have a Brazilian or Mexican to help you expand to Latin America, or a Chinese that really understand business culture in orient? All these options are possible with AIESEC, if you decide to open an opportunity to have an international intern at your company. By reading this material you can have all basic information about how we make it to be as easier for you as hiring locals!