The US is one of the world’s most difficult markets to enter and navigate, particularly for biosciences and MedTech firms. But it is also among the most lucrative if done correctly. Karina Sotnik of Philadelphia-based WorldUpstart explains the many issues that even the most seasoned global executives don’t realize: venture funding, regulations, managing the 52 possible governments to deal with, the huge amount of competition, talent acquisition, employment law, working with insurance companies in a multi-payer system, visas, distribution channels, and some cultural and regional issues. Karina also highlights the assistance her firm and states’ economic development agencies provide and explains the many location criteria that inbound firms should consider. She also gives some non-medical examples of how foreign companies failed by not considering some basic factors … lessons for any company expanding to any overseas market.

Highlights:

{02:50} Tips for bringing overseas companies to the USA. 

{06:52} Misconceptions about the U.S. market

{10:20} Issues manufacturing companies face when they come to the U.S.

{19:00} Start-up challenges vs. established firms

Karina Sotnik bio:

Karina Sotnik is CEO of WorldUpstart, a Philadelphia-based firm that empowers overseas tech companies, especially in the Biosciences and Medtech, to enter the US by optimizing strategies and connecting prospects with players, partners, and investors. 

WorldUpstart also works with universities and government agencies internationally to build commercialization programs to foster the creation of innovative, viable, and scalable startup companies, based on academic discovery and research.

Karina is a serial entrepreneur, mentor, and advisor with over a decade of experience creating entrepreneurial ecosystems through innovation programs with significant economic impact. She has extensive experience in academic innovation, incubation, acceleration, and global soft-landing programs for startups, universities, and international organizations.

Connect with Karina:

LinkedIn: https://www.linkedin.com/in/karinasotnik 

Website: https://www.worldupstart.com 

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