Session 5 - Global trends in fintech and blockchain
Investment NSW providing support to NSW founders looking to scale – discussing the tech services team and how we provide free, confidential support to tech founders from NSW. Also we are running a number of free Going global programs to the US and UK over the next year covering SAAS and Fintech/Cyber.
Common misconceptions about scaling globally:
Global environment – driving forces like Inflation impacting funding, Crypto Winter, Venture Debt rather than equity, and fintech layoffs. We work with founders that have global aspirations from day one and this current economic cycle is seeing a number of challenges with scaling and raising funding.
Product Market Fit - often founders find success in their home market automatically defaults to success overseas, but this is not the case. Also is it the right time to scale? Servicing clients abroad also means taking on technical debt
Market commitment – flying in and out doesn’t equate to winning over customers and investors
Partnering is not always the answer to enter into a market.