One of the keys to harnessing the advantages on the horizon for expansion-minded Australian tech firms is mindset. Now is the time to be future-focused, taking the data from the past several quarters and leveraging it to lock in next year’s target. At Kettering we know successful Australian tech firms have the flexibility to investigate data and welcome a pivot where needed to meet benchmarks, along with the courage to leap into opportunity. We specialise in helping firms strike the balance of informed action that lands opportunities.
This article is the fifth in a series exploring Kettering’s sophisticated, research-backed prospectus on the viability of international market expansion for Australia-based technology firms. Here we’ll discuss what they can expect in the U.S. market, and how to utilise partners like Kettering as a resource in the remainder of 2023 and beyond.
Be Inspired By Others and Harness Success for Your Own Vision
Seeing what other successful Australian tech firms achieved throughout the U.S. can serve as powerful inspiration for your future efforts. Let’s look at a few 2023 success stories:
On the top of the list is Regrow, a company that operates a science and technology platform to help reduce carbon emissions in plants. AusTrade heralds Regrow’s success: “Regrow’s innovative technology has attracted $55 million in venture capital to date. It was named one of Fast Company’s 50 most innovative companies and the number one most innovative company in agriculture in 2023. Time Magazine also included Regrow in its list of 100 most influential companies of 2023.”
Talk about wild success. Regrow is positioned in two of the verticals most noted for potential for exponential growth: sustainability and technology. Knowing which quadrants of business to align your expansion efforts with can be advantageous for tech firms – and not knowing can be a serious setback waiting in the wings.
Another exciting example is PAM, a “digital wayfinding platform” combining QR codes and live interactive maps to assist users in real time. In 2018, PAM’s U.S.-based account manager helped secure a $6 billion project with the Hollywood Park sports and entertainment campus in Los Angeles – including the Superbowl. “Over the next 5 years, PAM’s technology will guide millions of spectators at the FIFA World Cup in 2026 and the Olympic Games in 2028.”
The Allure of the U.S. Market for Australian Tech Firms: What to Expect
Australian technology companies generally go global because the Australian market is not competitive enough for them to build large tech companies. The U.S. is often viewed as the most attractive international market, and there is a good reason for it. Let’s take a look at three of the top reasons to expand your tech business into the United States:
Firstly, there are over 330 million people living in the United States; they have a comparably high level of disposable income coupled with a strong desire to adopt new technologies. Consequently, Australian technology companies can access a broad range of customers.
Secondly, NASDAQ, the primary listing venue for technology companies, is one of the largest stock exchanges in the world. As a result, Australian technology firms have access to a large pool of capital for their growth.
Last but not least, there are similar regulatory environments in the United States and Australia, which makes it easier for Australian technology firms to expand into the US market.
Maximizing the Benefits of Kettering as Your Next Generation Consulting Partner
These benefits, while substantial, do not, however, automatically equate to international expansion success. That’s where Kettering comes in. The rich, practical, and broad commercial experience of the Kettering team in critical global markets such as the U.S. enables Australian tech companies to achieve their objectives.
Kettering’s international expansion services include the following:
- Developing effective and efficient solutions for Australian Small to Medium Enterprises (SME) qualifying to apply for Export Market Development Grants (EMDG).
- Establishing your U.S. corporate and business strategy including market discovery, signing post business development agreements, and business roll-out.
- Interconnecting business opportunities at various levels across geopolitical boundaries and cultures using economic diplomacy.
- Identifying and improving your organization’s performance across seven key areas; vision, leadership, communication, accountability, innovation, engagement, and growth in the United States.
- Developing your U.S. business growth processes that are measurable, accessible, and repeatable.
- Utilising our corporate parachuting services focusing on filling vacancies in a variety of industries and business sectors.
Leverage In-Market Support with Kettering International
Australian tech companies eager to begin an international expansion effort to the U.S. market can do so confidently with Kettering. Kettering knows the keys to market transition success at an integral level. Whether it’s avoiding commonly-encountered pitfalls, matching your market analysis to your strategy, or getting boots on the ground in the U.S., now is the time to book a consultation to ensure that your international rollout has all the support it needs.
Contact Kettering International for more information or to expand your tech firm’s viability and funding for your U.S. market launch. Now is the time to make the connections that will usher in opportunities for quarters to come.