Hana Milanov, TUM Professor of International Entrepreneurship, moderated the panel of the TUM San Francisco Dialogue. The expert further round included Kinexon GmbH Co-Founder and CRO Maximilian Schmidt, Expert Dojo Venture Partner and Head of Europe Thomas J. Richter, and GrowthX Founding Partner Max Menke.
Prof. Milanov posed a series of challenging questions to the panelists, who gave the audience many powerful insights. You can watch the full recording of the event. However, here are three important takeaways the panelists gave on a glance:
“Do not worry about losing traction in your home market, go where the market is right for your product and build a network there.” – Maximilian Schmidt
“Entrepreneurs seeking funding in new markets must understand the approach favored there. For example, in the US it helps to concentrate on the positives and create a bit of FOMO (fear of missing out) when seeking venture capital. At the early stages, the product/market fit isn’t always clear, so you have to sell your vision.” – Thomas J. Richter
“The formula for internationalization is no different than acquiring your very first customer. We don’t sell things to markets or to companies, we sell to people. Your go-to-market strategy in a new market should simply be to identify people - the characteristics and behaviors of the 50 people most likely to buy your product.” – Max Menke
We invite you to learn more and benefit from the experiences of these experts: Watch the recording of the TUM San Francisco Dialogue 2021 here.