How should a foreign startup prepare for their trip to Silicon Valley?

Photo credit: Andrew Ruiz

You’re a budding startup, growing from strength to strength. You’ve captured your market and the heart of your customers.

However, even with your achievements at home, your ambition and quest for success does not let you settle. Where next? Where do the successful and elite play? Your thoughts and curiosity turn to the land of the tech titans – Silicon Valley.

Your time and budget is limited, and your connections to the Valley are virtually non-existent. How can you capitalise on any potential opportunities and make the most of the time you have there? How do you pave the way to start getting some visibility in the right circles?

I caught up with Karim Nurani, the Executive Director and Partner of Bay Angels, and asked him how a foreign startup should prepare to break into Silicon Valley.

I’ve just landed in SFO, what homework should I have already done before arriving?

“Before arriving, clearly define why you’re coming to Silicon Valley,” said Karim, “Too often, foreign startups only hear about how Valley startups are getting funded, that there’s a lot of money and they believe it’s easy to get funded.”

It’s imperative to understand how you fit in to the landscape.

According to him, it’s imperative to understand how you fit in to the landscape: identify who you are, what you’re doing and who your competitors are. Specifically, understand how you are better than your competitors, what value are you bringing here, and determine what the others don’t already have. First understand that, and then you can create the value proposition in your messaging.

Secondly, be specific in targeting who you want to meet, be clear why you want to meet them, and consider why they should even meet you. Once you have your message down right, it’ll be much easier to say ‘I’m coming to Silicon Valley, this is who I am, this is what I’m doing. I want to understand the landscape and get educated on the competition and potential customers’.

“If your potential customers are early startups, consider asking to meet their investors too,” he said.

As a foreign startup with no connections in Silicon Valley – what’s the best way to start building my network?

Karim advises founders to first identify all possible leads and connections to Silicon Valley and seek to build them out from home. “You need to be absolutely relentless in finding all possible pathways,” he said, “Once you establish one or two connections willing to help, you’re on your way.”

Are there any government or trade associations that you can connect with? Are there any schools or universities that have affiliates or partners in Silicon Valley? Would your bank have any possible connections to a Silicon Valley counterpart, or would any banks in Silicon Valley have affiliates in your native country? Would local incubators or accelerators have any leads?

Consider speaking to professional service providers that have an active interest in the startup space, such as law firms, accountancy practices or consultancy firms.

Also, what events are happening during the dates of your trip? There are so many events happening, register or get invited to as many as possible that are relevant to you.

What are some strategic approaches to increase my visibility and company profile among potential customers and investors?

What are the most common mistakes a startup makes venturing into Silicon Valley?

What would spark your interest in considering funding a foreign startup?