Want to expand to Asian markets (Taiwan/Japan/Thailand/India), and not sure what is the best strategy suited for your startup company in your particular situation? How to quickly launch into a new market and get the result of making the 1st sales or finding the right partner/channel?
Why building such a program and who is the program designed for?
- who is the program designed for?
- The program is designed for startup companies already funded at seed/angel round, with strong desired to access Asian market and scale and plans to fundraise in the next 12 to 16 months.
- why building such a program?
- When it comes to market entry and scaling in Asia, there are probably a million questions that come to mind as each country in Asia may be similar but yet different in so many ways. In the digital economy where opportunities are immense for entrepreneurs and startup companies to take on and explore, new challenges arise beyond simply the need to understand and learn the local culture and business conduct. The startup policy and support from each country for new products/services in a new industry (e.g. fintech/edutech/020/digital health/ecommerce/..) may be in the range of not regulated to heavily regulated.
- what is iiiNNO approach?
- At iiiNNO, we understand that startup companies in our iiiNNO launchpad do have a similar objective, but every company is very unique in its way. We seat down with each team to carefully develop a sound market entry plan in order to maximize company value/evaluation by building a scalable company while facing challenges of limited resources/time.
- what are the challenges of today for market access?
- The challenge is never the dedication and devotion of entrepreneurs wishing to build a product/service solving problem for more or bigger markets, but with the fast-changing environment and policies/regulation on how to assess the market go-or-no-go to the best ability and deliver success become one of the biggest challenges.
What are the common challenges or questions we are asked?
- Which market should we enter first? what is the resource available? and why this market/country over another one?
- note: to answer this question, one needs to be aware and knowledgeable for multiple markets and develop an in-depth partnership to facilitate fast-track service
- What resources including funding, community and government resource available? What is the conditions/criterion? Can you help us?
- note: the market access program needs to stay up-to-date with government incentive and policy program and develop co-collaboration capability in order to truly successfully launch into a new market)
- How to set up an R&D team in Taiwan? Is there any R&D or market access subsidy or matching fund?
- answer: there is an R&D subsidy and market access subsidy program for both international and local companies, 50% matching up to the amount of 150K USD. The R&D program covers salary & consultant fees (employee, consultant), outside vendor assistance, patent application, IP acquisition, testing material used for prototyping. The brand expansion program covers market access for attending a trade show, hiring of crowdfunding outside consulting service.
- Do you have a track record or experience in a particular industry?
- answer: yes we have track records, and we focus on the teams in the digital economy space.
- note: a track record of successfully launch into multiple markets from a higher angel from an Asia /APAC view becomes critical in developing a multiple market access strategy that saves time/resources and generates real success.
- Do you actually invest?
- answer: Yes, we invest 25K to 50K to a team committed to generate sales and acquire customers in more than 2 countries within 10 months.
What is the focus of iiiNNO launchpad program?
iiiNNO is dedicated to co-create with international startup companies to achieve 10X growth by accessing multiple Asian markets. If you are a highly market-driven / customer-driven team / R&D-driven team with a strong desire to make sales and grow the company, this program is a perfect fit for you.
Our program consists of 3 key elements:
- business development
- making 1st sales and finding the right partner in a new market is #1 priority of iiiNNO launchpad program. Together with startup companies, we strategize, provide options and clarity and pivot with immediate market feedback with measurable results.
- market access partnership
- one of the key components is to find a group of people who loves and passionate about working with an international startup, especially the one in the new business model and the digital economy. iiiNNO is committed to working very closely with central/local government, startup service provider, ecosystem builders, investors, startup conference organizer and other, so that when a new startup entering into a market, all the help and focus will be there ready for iiiNNO launchpad. (e.g. stage #1, stage #2, stage #3)
- early-stage investment
- invest 25K to 50K USD to startup team with strong execution and agility in co-creating a scalable business model for Asian markets
What are the actual services/benefits from the launchpad program?
- STAGE #1: Market Research (program fee: 1500 ~ 3000 USD)
- market research for justification and feasibility analysis for Go/No Go for a new market (Japan / Taiwan / Thailand / India)
- power business matching to gain local market in-depth knowledge.
- startup exhibition and local ecosystem discovery visit
- STAGE #2: Prototyping & Validation (program fee: 5000 ~ 15K USD)
- co-business development and sales support in making 1st sales in a new market.
- local talent acquisition and hiring
- local government resource (e.g. matching funding/tax benefits/subsidy) research, analysis and roadmap planning
- application to startup visa/residence to Asia program (Japan / Taiwan / Thailand)
- startup exhibition & roadshow
- building strong network locally
- STAGE #3: Scale & Operation (program starting 5000 USD ~ 20K USD)
- hiring local talent and building a local team to support sales/operation / R&D
- setup a subsidiary in Taiwan or other markets to grow company revenue and R&D
- application to government subsidy and resource in Asia markets
- building a strong network and be part of the startup ecosystem locally
What are the steps to enroll in iiiNNO launchpad program?
- Step 1: launchpad inquiry:
- Step 2: 20 min 1-to-1 conference call
- how to contact >> we will schedule a call via google meet / whereby / zoom
- activity: free chat to ask any question about things you want to know about Asia market access or about a specific topic of a particular market or simply about how to enroll in our program
- next step >> decide if there is a good fit for the program or if we are the team that can assist in the time frame or status of the situation from both sides.
- Step 3: application form
- where to fill >> https://iiinno.pse.is/iiiNNOLaunchPad-Application
- activity >> scope/duration of program/resource required to meet the objective and goals for Asia expansion
- next step: once filled, we will begin the confirm the SOW (statement of work to confirm the service item in our launchpad program)
- Step 4:
- activity >> confirmation of budget and time-schedule
- Step 5:
- activity >> on board and execution
Which international startup companies have attended the program and what do they have to say about the program?
- 1Export (Philippine)
- Aniware (HK)
- Automated (HK, Cyberport)
- Minidragon (HK, Cyberport)
- ORII (HK, Cyberport)
- Sygency (New Zealand, GEN New Zealand)
Who are our Asia working partners?
- Japan: JETRO / Fukuoka City government / Startup Cafe, Fukuoka / Startup Go!Go! / Startup Lagoon Koza / ISCO / Nulab
- Taiwan: Central (SMEA, NDC) and Local government (Taipei City government) / Taiwan Startup Hub
- Thailand: DEPA / GEN Thailand / Techsauce
- India: GEN India / CoWorkin