The business world is becoming more and more intertwined and connected with every passing year. Though cross border commerce has been prevalent for many years in manufactured goods or agricultural products, it has now also become necessary and prevalent in the IT (information technology) generation. Technology companies globally have realized that their products and services are universal and that they can reach their peak impact only if being able to serve people around the world.
Today’s entrepreneurs cross global boundaries for two main reasons. First, they realize that new ventures often span global boundaries and that their products or services are universal. Second, they want to stay competitive and today that means acquiring talent, capital sourcing, service delivery, and manufacturing in other countries.
There are often challenges to overcome with new ventures taking on global operations. Physical distances create time differences that must be worked with. Greater yet are challenges that come with working with different cultures, political and economic systems, and educational systems.
Countries’ political, judicial, tax, regulatory, environmental, and labor systems vary. Also, the choice of where to locate a company’s headquarters will often affect its ability to raise capital and will affect shareholders. These systems must all be navigated carefully in choosing where to launch one’s company and then how to strategically expand to other countries.
Silicon Valley in California has been a technology hub and source of venture capital and technology talent for several decades now. However, now several other global locations ranging from Mexico, Brazil, India, to several European countries all have their own IT hubs and are using their local talent to start companies and find innovative ways to provide financing.
Global entrepreneurship is important today in technology like never before. Venture capitalists in the US are starting to embrace the idea of investing in companies launched outside the US, though still mostly funding domestic companies. As the business opportunities in investing globally become more apparent, there will be less hesitation in providing funds to start-ups located throughout the world.
TiEcon 2021 Global Connect Track
The TiEcon Global Connect track will explore some of the issues facing global connectivity in today’s business ecosystem. It will explore how investors and entrepreneurs are connecting globally to solve some of today’s most universal and pressing problems. It will also address how countries are adapting politically and culturally to embrace these universal partnerships and associations and building the frameworks to allow them to flourish.
TiEcon 2021 will once again be a virtual event as it was last year due to the global pandemic. This will encourage and allow entrepreneurs, business executives, or students to attend from their homes in whichever country that may be. It will be held on May 6, 7, and 8th US Pacific time. It surely will be an event not to be missed.