US MAC: Success Stories

Transcription

1 US MAC: Success Stories A brief overview of companies that have become successful as a result of working with US MAC May 15, US Market Access Center Think Big. Start Smart. Scale Fast.

2 US MAC: Your Gateway to the US Market US MAC is a non-profit business accelerator located in Silicon Valley. We give International tech companies a fast and successful access to the US Market. Since 1995, the US Market Access Center (US MAC) has helped over 800 companies from over fifty countries get started, grow and succeed in Silicon Valley. US MAC is supported by the San Jose State University Research Foundation. Our only focus is to help emerging technology companies from other countries who seek to begin doing business in the United States. US MAC functions both as a soft landing and a launching pad for emerging tech companies from overseas. Like all accelerators, we provide the basics virtual and physical office space in several locations in the Bay Area, in the most relevant location for your tech company, conference rooms, shared use of offices machines and Internet and phone connectivity. But that s just the beginning. We also provide Startup Camps and Startup Workshops to emerging entrepreneurs worldwide. Our instructors are certified Kauffman FastTrac facilitators, both in TechVenture and GrowthVenture curricula. In addition, US MAC offers workshops inspired by Steve Blanks & Eric Ries Lean Startup methodologies, which are being adopted by Silicon Valley and global startups today. Following the essentials, US MAC provides business development support, mentoring, marketing & sales consulting, and access to VCs, business angels, legal, financial & accounting expertise, market research all the essentials for an emerging business. More importantly, we provide relationships we have an extensive database of contacts throughout Silicon Valley, and an enormous network to draw upon. We can, and do, help our clients get into almost any Silicon Valley corporation or venture capital firm.

3 1: SkyDoor Pty SkyDoor, a Singapore company, graduated from a US MAC Go Global Boot Camp in January, 2011 Overview: Founded in 2009, SkyDoor is a Singapore based company that has developed a patent-pending technology for the rapid production of 3D videos for online advertisers and mass consumers. SkyDoor is a truly global company with the founding team comprising of US, Italian, French and Singapore nationals. The company maintains operations in Singapore and Thailand. Although the company had very strong technology, they lacked a clear business focus. US MAC Involvement: In the fall of 2010, SkyDoor participated in a startup competition in Singapore and won a spot in a US MAC Startup Camp. During the January 2011 camp, SkyDoor founders attained an accelerated learning of Silicon Valley best practices, followed by intensive coaching by US MAC mentors to simplify and clarify their business model. As a result of the Camp, SkyDoor decided to focus on one of three different business lines. Results: As a result, one of the business lines was discontinued; a second was sold to a group of European investors in December 2011; and the remaining product line raised $4M in A Round financing two months later. US MAC facilitated an acquisition of SkyDoor, valued at $17M, to a New York media company in December, 2012.

4 2: Heptagon Heptagon Advanced Micro Optics was founded as a spin-off from Helsinki University of Technology by world-leading experts in diffractive optics in Overview: With limited growth potential in the Nordic countries, Heptagon s original target market was greater Europe and Japan, and then the USA. Heptagon identified that there are many companies worldwide needing their solution but very few players in the world offering it. Thus, they needed a strategic location in the world to attract investment, top talent and to spearhead global growth. US MAC Involvement: Opened first US office with US MAC in San Jose in 2007, leveraging the community of US MAC mentors, and direct access to industry experts and investors. Results: Heptagon raised $22M in venture capital in 2008 from GGV Capital in Menlo Park, and from other syndicates based in Stockholm and Shanghai. Venture capital has been mainly used to expand business to new market segments, more production capacity etc. and to attract experienced management team members. The San Jose offices has further helped Heptagon to significantly increase sales in the United States. Jyrki Saarinen, Heptagon s co-founder and senior vice-president presented to Neelie Kroes, VP for the Digital Agenda, European Commission, at an event organized by US MAC in October 2011.

5 2: INCA Internet INCA Internet is a Korea-based Internet security company founded in 2000, with offices in Malaysia and China. Overview: After ten years of seizing 80% market share in Korea and 40% in the rest of Asia, INCA management decided it was time enter the US market. US MAC Involvement: In the spring of 2011, INCA participated in a business plan competition in Korea and won a spot in a US MAC Startup Camp. During the July 2011 camp, INCA s assigned mentor, Antonio Espinosa, quickly realized INCA s potential and worked diligently over a twomonth period to refine the value proposition and sales pitch. Results: INCA conducted successful meetings with executives at Google, Apple, Union Bank, BridgeBank, Square 1 Bank and Bank of America, pitching its new Nprotect anti-fraud detection/protection solution. As a result of these meetings, INCA is in contract negotiations with three of these corporations and has a term sheet agreement in place with Bank of America. INCA has also established its first US office at US MAC in San Jose.

6 Results from Lean Market Entry Programs 11 tech companies from Sweden, France and Korea participated in US MAC s Lean US Market Entry programs during A summary of their experience and outcomes is listed below: Visiofair (France): Validated its go-to-market strategy in meetings with 20+ US endcustomers, partners and investors, entered into go-to-market partnerships with key players, and estabished a presence in the US Djengo (Belgium): Tested its business model/business plan through discussions with leading Silicon Valley companies including Google, Apple, Facebook, Safeway, PG&E and others and made critical adjustments to its go-to-market strategy Be-bound (France): Engaged in validation of its business plan through discussions with corporate customers (Barnes & Noble), potential partners (Travelocity, Concur, Mobissimo, Castro Travel) and insightful venture investors (Partech, ATV). Namo Interactive (Korea): Established sales office in Silicon Valley and increased US customer based by over 50% within 6 months. Jiransoft (Korea): Launched US version of flagship product Direct Reader, and in partner discussions with several Silicon Valley corporations including Samsung, PowerCloud and Oracle. WareVally (Korea): Currently establishing their Silicon Valley sales office and are in partnership negotiations with two corporations Symantec and McAfee.

7 Performance Metrics: Performance Metrics Summary (Jan to Jan. 2013) Companies that have been housed at US MAC San Jose/San Francisco 122 US MAC companies that have raised venture capital in last 36 months 11 Capital raised by US MAC companies from Silicon Valley investors in last 36 months 108M Companies with Virtual Offices at US MAC 66 US MAC companies that have generated $1M+ in sales within last 24 months 17 Metrics from Acceleration Programs (Jan to Jan. 2013) US MAC Bootcamps held in Europe-Asia-Russia-Latin America 17 Number of foreign startups that have participated in US MAC bootcamps 169 Bootcamp participants that are conducting successful business in the US to date 44 Number of startups that US MAC has evaluated to qualify in US MAC programs 320+ Total mentoring hours delivered by US MAC mentors to international startups 760+

8 Client Testimonials from Previous Programs This program has shaved 4 years off my business plan! The Program was well thought out, well organized, and the follow-up documents are excellent! This program is a home-run by US MAC! This is clearly an opportunity you can't buy. I feel privileged to be able to get the assistance. Every dime we spent was very valuable. You delivered more than was in the contract, and I learned more in a few months than I had in the previous year." That is so good you couldn't even make it up if you tried! Thank you all for the kind support and know-how about the harsh reality we need to face.

9 Active Global Programs: Estonia Benelux Ireland Sweden Finland Russia Japan France Poland Catalonia Spain Czech Republic Pakistan Korea Colombia Algeria Singapore Soft Landings Zones in Silicon Valley Acceleration Programs

10 San Francisco Palo Alto Let s Connect linkedin.com Groups US Market Access Center San Jose Our Headquarters US Market Access Center 10 South Third Street, 3rd Floor San Jose, CA Contacts Alfredo Coppola President & Executive Director +1 (415) alfredo@usmarketaccess.com Chris Burry Senior Vice President +1 (214) cburry@usmarketaccess.com