he US is one of the world’s most difficult markets to enter and navigate, particularly for biosciences and MedTech firms. But it is also among the most lucrative if done correctly. Karina Sotnik of Philadelphia-based WorldUpstart explains the many issues that even the most seasoned global executives don’t realize: venture funding, regulations, managing the 52 possible governments to deal with, the huge amount of competition, talent acquisition, employment law, working with insurance companies in a multi-payer system, visas, distribution channels, and some cultural and regional issues. Karina also highlights the assistance her firm and states’ economic development agencies provide and explains the many location criteria that inbound firms should consider. She also gives some non-medical examples of how foreign companies failed by not considering some basic factors … lessons for any company expanding to any overseas market.
{You can hear the full episode on Friday June 9th}