EXPORT ASSISTANCE FOR TECHNOLOGY ENTREPRENEURS BEST PRACTICES AND CASE STUDIES

EXPORT ASSISTANCE FOR TECHNOLOGY ENTREPRENEURS BEST PRACTICES AND CASE STUDIES

Sandra Marin Director Technical Assistance International Trade Specialist University of Missouri Extension Missouri SBDC Columbia Center Pablo Arroyo Ast. Extension Professional & Business Development Specialist Franklin County, East Central Region Missouri SBDC - @ M O b u s i n e s s N e t

TECHNOLOGY ENTREPRENEURSHIP Definition, dominant themes and distinguishing aspects. Role within national, regional, state & local economic development. Challenges faced: raising capital, climbing the entrepreneurial ladder/pipeline. Types of products and services Missouri SBDC

TECHNOLOGY ENTREPRENEURSHIP IN MISSOURI Innovation & Entrepreneurial Ecosystems. St. Louis Columbia Rolla Kansas City The Global Cities Initiative

INTERNATIONAL ENTREPRENEURSHIP Definition: process of an entrepreneur conducting business activities across national boundaries (Hisrich, 2013) Exporting, licensing, having a sales office in another country Why the need for special assistance when entering international markets?

MU INTERNATIONAL TRADE CENTER MU ITC helps to effectively evaluate global market opportunities in a timely, meaningful and affordable way.

Missouri SBDC support Tech-Entrepreneurs with International Trade Assistance

THE MO SBTDC STRATEGY FOR TECH ENTREPRENEURS TECH-ENTREPRENEURSHIP EVENT SERIES Project Description Plan and Objectives Build the bridge Stimulate technological innovations Increase the economic output of Missouri and the United States Stage two company's will receive tech-commercialization assistance Establishing markets for the new technology Training the tech-entrepreneurs in "why to export Provide opportunities for marketing networks through the Columbia SBTDC partnerships in Guatemala, El Salvador, and Colombia Assist in connecting "clients with clients", and also serve as an opportunity to provide open "cross-counseling" services to the firms MOBEC Program Stage 1 Current Implementation 23 promising technologies attended by a MOBEC program reached the proposal/funding level. MOBEC Stage 2 Proposal Q4- FY2015 Year 1-3 Improve the entrepreneurial infrastructure in mid-missouri to positively impact economic development 50 promising technologies supported and generated economic impact MOBEC Vision (Year 4-5) Create a hightechnology accelerator system in mid-missouri New markets for tech-entrepreneurs support growth and sustainability

PARTNERS FOR IT ASSISTANCE SENASoft Colombia, 2015 Connecting internationally with similar organizations to support tech-entrepreneurs and manufacturers spin-offs

IMPLEMENTATION Demonstrated the successful implementation of our strategy (cases) : 1. Company A: Cell cryopreservation methods seeking for licensing and commercialization 2. Company B: Software services seeking for corporate clients, prototyping and investors 3. Company C: Digital marketplace for farmers and food buyers seeking for agribusiness Missouri SBDC supported 50 tech-entrepreneurs using international trade assistance, with $14M impact by SP2016

WHY INTERNATIONAL TRADE ASSISTANCE:

Company A: Novel Cell Cryostorage Media It is an innovator for biomedical and agricultural cryostorage market, will disrupt current technologies by eliminating the need for liquid nitrogen Company A before SBDC business assistance Case study in turning technology into successful business Missouri SBDC programs: Grants International trade assistance Next steps

Company B: Complete SaS Solution for Independent Financial Advisors and Advisory Firms It provides technical consulting and support to improve your organizations business process, automation, workflows, reminders, and data management.. Before SBDC business assistance Case study in turning technology into successful business Missouri SBDC programs Funding International trade assistance Next steps

Company C: Digital marketplace for farmers and food buyers. It changes food supply chains into food value chains because we create accessibility, visibility, and traceability in real time. Before SBDC business assistance Case study in turning technology into successful business Missouri SBDC programs Funding International trade assistance Next steps Business Model: 1. Build critical mass of farmers, buyers and transporters 2. Aggregate data and subscription model

RESULTS CLOSING THE GAP BETWEEN INTERNATIONAL TRADE ASSITANCE AND TECH- ENTREPRNEURSHIP SBDC PROGRAMS For our clients For our centers Missouri SBDC

REMARK - IMPLICATIONS Both the digital and infrastructure industries will be major economic drivers in the global economy By Stefan Selig, The Undersecretary of Commerce for International Trade. At The Global Infrastructure Leadership Forum (February 25th, 2015) In support of our analysis of the need for promotion of technologies and services

LESSONS LEARNED Areas for improvement Insights & discussion Feedback from Clients Impact Next Steps

BROADER GOALS Fill a gap in supporting the digital and technological driver Develop and export technology and services Offer the opportunities in the Trans Pacific Partnership (TPP) for the U.S. Service Sector for tech-entrepreneurs Telecommunications Software licensing Retail Entertainment Logistics Insurance

BROADER GOALS Ensuring that our clients have the support they need to export new services and technology developed This trade agreement will set forth a precedent in terms of rules regarding digital trade, Internet-based commerce and the flow of information This plan will promote global sales and development, in a currently untapped area of our market

GENERATIONAL CHANGE From Which Generation Are You? From Which Generation Are Most Technology Entrepreneurs? What Challenges Could Arise in Business Settings? G.I. Genera tion (1928 and before) Silent Genera tion (1928-1945)- 5% The Boomers (1946-1964)- 45% Genera tion X (1965-1980)- 40% The Millennials or Genera tion Y (1981-1996)- 10% Genera tion 2020 or Net Generation (1997 -current) http://www.digitalistmag.com/finance/2013/11/06/cfo-multi-generational-finance-team-0979055

GENERATIONAL CHANGE How generational change impacts the technology entrepreneur? Strategies to leverage generational change for business growth. Role of MO SBTDC in bridging the generational gap at the international level.

Sandra Marin University of Missouri Extension Missouri SBDC Columbia Center MarinRuizS@missouri.edu @SandraDMarin Pablo Arroyo Franklin County, East Central Region Missouri SBDC ArroyoP@missouri.edu