The Global Marketing Show

Wendy Pease is President and owner of Rapport International, a translation and interpretation services provider. In this episode of The Global Marketing Show, she serves double duty, serving as both host and guest and sharing her vast experience with helping US companies export. Did you know that 93% of small international businesses export, while in the US, only 5% of US companies export? The US imports tons of containers full of goods and ships empties back to countries around the world. Imagine how much revenue our economy would produce if small- and mid-sized US companies started selling internationally! It could, arguably, solve several of the country’s fiscal problems. When asked why they don’t export, entrepreneurs and business owners alike say they simply lack the knowledge; they don’t know where to start or how to handle regulatory and payment issues. The US federal and state governments continuously strive to correct this trade imbalance, offering resources to help companies export; trade advisors, in-country attachés, research support, and grant monies are just the beginning of an extensive support network designed to help even the smallest American companies compete on the global stage. In addition, there are industry organizations, trade centers, chambers of commerce, and service providers willing to help. In this episode, Wendy lists the 7 main sources of exporting support. Pick one and reach out. Links: Resource Center - https://www.rapporttranslations.com/learning-center Book – The Language of Global Marketing - https://www.rapporttranslations.com/the-language-of-global-marketing-book Website: https://www.rapporttranslations.com/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Maria Shepherd is the founder and CEO of Medi-Vantage, which helps companies develop disruptive medical devices and marketing strategies. Every strategy is designed to decrease risk, disrupt existing markets, and drive market share while improving patient outcomes. With clients from Japan, Australia, several EU countries, and the United States, Medi-Vantage has developed a comprehensive approach to global market entry, with services encompassing everything from developing engineering marketing specifications to conducting clinical due diligence for acquisitions. As a guest on The Global Marketing Show, a Rapport International podcast, Maria shares her best advice from over 16 years of medical device strategy research, covering the commercialization continuum from marketing specifications through reimbursement, pricing strategy, and go-to-market planning. She also provides a roadmap for bringing medical devices to global markets: careful research and strategic pricing built upon a deep understanding of local healthcare systems. The Complexities of Global Medical Device Pricing Maria reports that thanks to increased transparency in the digital age, the days of setting different prices for different regions are essentially over. When a medical device is sold at a significantly lower cost in India, for instance, in the US, Germany, France, or Japan, economic buyers can easily access that information. Transparency has forced companies to develop more sophisticated approaches to market entry in different regions. Some strategies include providing complementary capital equipment with the purchase of disposables or the implementation of subscription models. These approaches must be carefully considered, however, as some markets (like US hospitals) are known to resist certain pricing models. The key is finding a balance across different healthcare systems while maintaining profitability and market access. Medi-Vantage develops budget impact models to help companies determine pricing and demonstrate value. Maria describes a recent project involving a device to help OB-GYNs make more informed decisions about C-sections. The model factored in: A comprehensive analysis quantifies immediate and long-term cost savings, making it easier for healthcare providers to justify the investment. Such models are particularly valuable when introducing disruptive technologies that require changes to established medical practices, Maria says, adding that: We quantified all of those and put them into the budgetary impact model because, oftentimes, nobody really sees an alternative to C-section. They don’t sit down and figure out, what if we didn’t have to do this C-section? Then there are the costs to the mother, of complications, death, extreme impairment, or long hospitalization. Clinical Due Diligence in Global M&A Medi-Vantage also conducts clinical due diligence for medical technology companies considering acquisitions. Maria says it’s not unusual for a surface-level appeal to fall short of reality, describing a rare instance in which she resisted an acquisition. A new technology promised to reduce a procedure requiring two in-hospital procedures to one hospital procedure plus one office visit, a clear win for efficiency and cost reduction. During the due diligence process, however, the Medi-Vantage team uncovered significant resistance from both physicians and hospital administrators. The physicians were concerned about losing control of the second procedure to another specialist; hospital administrators worried about lost revenue. The feedback proved invaluable to their client’s decision-making process, highlighting the importance of understanding local healthcare dynamics and stakeholder interests. Advice for Global Market Entry Medical device companies seeking global expansion face a complex web of challenges that extend far beyond basic market research. Standing out in a competitive market requires working with consultants who have...

Thorsten Waloschek is CEO of NeoPredics AG, a Swiss digital health startup revolutionizing neonatal and maternal care through predictive analytics. Its first product, BiliPredics, predicts neonatal jaundice progression and is already available in both European and U.S. markets. By analyzing biomarker data, BiliPredics can forecast a baby's bilirubin levels for up to two and a half days after hospital discharge, enabling healthcare providers to make more informed decisions about when to send newborns home. "The very last thing you want to do is rush back to the hospital within two days,” Thorsten explains. Such returns disrupt crucial parent-child bonding and lactation and can cause unnecessary stress for new families. Hospitals can provide preventive treatment by identifying at-risk infants before discharge, ensuring a smoother transition to home life. Building upon BiliPredics’ success, NeoPredics is currently in development of a similar solution for preeclampsia, a hypertensive disorder that affects 2% to 10% of pregnancies globally, according to the World Health Organization (WHO). The exact numbers vary according to geographic region, but on average, the WHO attributes 70,000 maternal deaths and half a million fetal deaths to the condition annually. (Khan B, et al. Preeclampsia Incidence and Its Maternal and Neonatal Outcomes With Associated Risk Factors. Cureus. 2022 Nov 6;14(11). PMCID: PMC9723483, PMID: 36483900.) NeoPredics’ technology aims to identify high-risk pregnancies as early as 12 weeks into gestation, prompting proactive medical intervention. In this episode, Thorsten describes the whirlwind process of building a global healthcare business, particularly when navigating regulatory environments and cultural nuances across different markets. Strategic Global Expansion Founded in 2020 in Switzerland, NeoPredics took an early international approach, establishing their U.S. subsidiary just one year later. This quick expansion into the American market wasn't merely opportunistic; it was strategic: Why the US? Because it's still the single, unified, biggest medical device market in the world. We entered the United States and then went back into Europe, which was the second step because of regulatory challenges. But in the end, it's global. We want to help every newborn baby, young family, and pregnant woman. It's not only about healthcare disparities and racial discrimination; it happens everywhere in the world. Pregnant women and newborn babies are always the least taken care of by the population, no matter where. In addition to strategic market selection, Thorsten emphasizes the importance of local partnerships, especially for startups with limited resources. "I would never try it on my own," he says about entering new markets. "I would always look for a partner that helps us as a company to enter that market." Local partnerships will help with cultural Integration, which is integral to global business success. Thorsten describes how different regulatory approaches reflect more profound cultural distinctions; for instance, the contrast between European "black and white" regulatory environments and the more negotiation-friendly American system reflects how each culture conducts business. Thorsten provides additional insight into managing cross-cultural communication, including translation. His approach combines several key elements: Navigating Regulatory Challenges Thorsten explains that regulatory frameworks worldwide were formulated primarily around hardware-based medical devices, creating unique challenges for software-based solutions like predictive analytics. "And suddenly, not suddenly, but for the last 10, 15, 20 years, more and more software is coming," he adds. This disconnect has led to interesting developments in market entry strategies. While Europe was traditionally considered an easier first market for medical devices, that dynamic has shifted, with many companies now finding the FDA process...

Maria Kondratyev is the founder and CEO of Aeterna Therapeutics, a San Diego-based biotech startup driving innovation in treating metabolic diseases, particularly in pediatric patients with growth hormone deficiency. The company’s technology transforms daily hormone injections into monthly treatments, a crucial step in refining patient care and compliance. “It is life-changing,” Maria adds. “I gave you an example of gross hormone deficiency, but really, there are a lot of different diseases, including oncology, obesity, and diabetes, where we can use this same concept, and we're going to expand there once we grow a little bit.” Maria's story is particularly compelling. Born in Moscow, raised in Tel Aviv, educated in Canada, and now leading a company in San Diego, Maria brings a unique perspective to international business development. She discusses how technical terms can vary significantly across languages and educational systems, even between herself and her mom: "My mom was also a scientist, a biologist... She got all of her education in Moscow. But when she speaks to me about things like PCR, which we see in the lab all the time, I have no idea what she means." Maria and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, an event hosted by Life Science Nation. (Wendy recently interviewed Dennis Ford, founder and CEO of Life Science Nation, which specializes in fundraising for life sciences companies.) In this episode, Maria describes how an international mindset and cultural intelligence create unique opportunities in the biotech industry. Building Bridges Across Borders As the company moved from research to commercialization, Maria's multicultural approach generated inroads into different business cultures, resulting in Canadian commercialization grants and collaboration with Brazilian investors. Maria encourages entrepreneurs to be open-minded: "Sometimes you're not sure how to talk to a person who was raised in a different environment," she admits. "What means one thing in one culture can mean something completely different in another." Over time, that international mindset evolves into a keen awareness of cultural nuances, creating opportunities that might never have materialized. The complexity deepens when dealing with scientific innovations that may not have equivalent terms in other languages. With patent translations, for example, sometimes there is no direct translation for new technical terms. In such cases, a professional translator must decide whether to create new terminology, keep the original language, or develop descriptive translations that accurately capture the concept. The Power of Cultural Intelligence Maria offers several key insights for entrepreneurs navigating international markets: 1. Rely on professionals even though you speak the language. Maria speaks four languages (English, Russian, Hebrew, and French); however, in her experience, technical and scientific communication require more than basic language skills. Professional translation services become crucial, mainly when dealing with specialized terminology that might not have direct equivalents across languages. 2. Pay attention to cultural nuances. Maria has seen how something as simple as smiling – or not smiling – can be interpreted differently across cultures. Once, while dining with Israeli visitors in a Chinese restaurant in Toronto, her Israeli guests initially interpreted the server's serious demeanor as rudeness. "But she's not rude," Maria explains. "It would be rude for her to smile at you because, in their culture, you smile at your very close family or friends. It's impolite to smile at a stranger." Maria suggests an unconventional but effective approach for those seeking to better understand different cultures: consuming media from target markets. Read literature, read fiction, watch Friends... When I met Brazilian people, I started to research what kind of books they read growing...

John Konsin is co-founder and CEO of Prapela, a company pioneering noninvasive stimulation to improve infant breathing and oxygenation. The company’s infant mattress technology has already received two Breakthrough Device designations from the US FDA, which expedites clearance for clinical usage. Prapela expects to debut an additional application based on the technology in 2025. John and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, which Life Science Nation hosted. (Wendy recently interviewed Dennis Ford, founder and CEO of Life Science Nation, which specializes in fundraising for life sciences companies.) In this episode, John describes three clinical applications for Prapela’s technology and outlines the company’s global expansion strategy, focusing on providing valuable insight into navigating international markets, regulatory challenges, and cross-cultural communication. The Science Behind Safer Sleep At the heart of Prapela's innovation is that 62% of healthy infants experience irregular breathing patterns and oxygen desaturation in their first three months of life. The Collaborative Home Infant Monitoring Evaluation (CHIME) study monitored over 1,000 healthy infants at home using hospital-grade equipment to track their respiration, cardiac activity, movement, and oxygen saturation levels. Episodes varied in frequency, severity, and duration among babies—some experienced them once, while others showed multiple occurrences. Most significantly, these breathing irregularities occurred not just in at-risk infants but in otherwise healthy babies, highlighting a previously unrecognized challenge in early infant development. (Ramanathan, R., et al. (2001). Cardiorespiratory events recorded on home monitors: Comparison of healthy infants with those at increased risk for SIDS. JAMA, 285(17), 2199-2207.) Prapela's infant mattress helps to regulate babies' breathing through a gentle, barely perceptible vibration. The innovation grew out of research by Dr. David Paydarfar, who, in the 1990s, discovered that a specific type of random vibration, known scientifically as "stochastic" vibration, could improve the “pacemaker function,” the neurons in a baby's brain that controls automatic breathing. The vibration is so subtle it moves less than half the diameter of a human hair, making it effective and non-disruptive to sleep patterns. The Hospital-First Strategy The company has secured over $8 million in funding through grants and awards, allowing them to maintain control while developing their technology. John says this will enable the company to seek equity investment from a position of strength, with FDA clearance on the horizon and a clear path to commercialization. Their market strategy began in hospitals, aiming to directly and immediately impact infant care in critical settings. This approach is grounded in decades of successful medical device launches, which built a foundation of clinical credibility before venturing into the broader consumer landscape. The technology has already demonstrated its potential, reducing reliance on supplemental oxygen and minimizing the need for traditional breathing interventions. John envisions a future where "Prapela Inside" becomes as recognizable in infant care as "Intel Inside" is in computers, starting with the 52 global manufacturers of hospital bassinets and incubators: [W]e we can make this mattress fit any infant sleep device worldwide. So it doesn't matter if it's an incubator, bassinet, crib, or cot, as they use the term in international markets, right? We can make it fit those products. So, our strategy is similar to that of Intel with the microchip. You'll see a little badge when you buy a computer from Dell or some other company. It says Intel inside. By positioning their technology as a vital component that transforms standard infant care equipment into advanced breathing support systems, Prapela aims to revolutionize hospital...

Mickael Dang is co-founder of Synakis, a biotech startup developing groundbreaking technology for the treatment of retinal detachment. Still in startup mode, the company is part of UTEST, the University of Toronto’s Early Stage Technology Program, which helps deep tech entrepreneurs go from lab to market. Mickael and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, where Synakis was among the highest-scoring companies in the Innovator’s Pitch Challenge. (The RESI conference is hosted by Life Science Nation and Wendy recently interviewed Dennis Ford, founder and CEO of Life Sciences Nation, which specializes in fundraising for life sciences companies.) Mickael’s journey is fascinating. When he arrived in Canada from France six years ago, he could barely string together an English sentence. Today, we find him at the intersection of scientific innovation, entrepreneurship, and global market expansion, having started Synakis while earning a PhD and serving as President of the Student and Young Investigator Section (SYIS) of TERMIS (Tissue Engineering and Regenerative Medicine Society). He is also multilingual; he speaks French, English, and some Mandarin. “The PhD is the same concept as being an entrepreneur,” he says. “You need to be very self-driven, very independent as well. You have to come up with your own experiment and come up with the next predicted results. I had this entrepreneurial mindset from the get-go and wanted to do a PhD for purpose, to really get the company out there." Incubated in the laboratory of renowned biomedical engineering professor Dr. Molly Shoichet, Synakis is developing a revolutionary hydrogel-based technology called SNK125. This innovation promises to transform the recovery process for patients suffering from retinal detachment, a serious condition that requires immediate surgical intervention to prevent permanent vision loss. Current treatments for retinal detachment involve using silicon oil or heavy gases to push the detached retina back into place. While these methods work, they come with significant drawbacks. Patients experience blurry vision during recovery and must maintain exhausting, face-down posturing for hours, sometimes for months. In addition, the materials used aren't biodegradable, requiring a second surgery for removal. Synakis's hydrogel technology eliminates all of these challenges, while reducing recovery time from months to just days. The Global Path to Market Equally interesting is the company’s approach to global market entry. Based in Canada, the company has already laid the groundwork for international expansion; in 2019, Mickael proactively filed patents across multiple territories, including Europe, Australia, Canada, and China, to ensure protection of its intellectual property globally. And rather than attempting to tackle multiple markets simultaneously, Synakis will initially focus on North America before expanding to Europe and China. This staged approach allows them to establish a strong foundation in their home market while building the partnerships and relationships required for international expansion. Throughout, Mickael and his team have been actively seeking partnerships with established industry giants like Alcon or Bausch & Lomb. There are high costs associated with clinical trials these companies – companies that "own the entire market," according to Mickael – have the expertise and distribution networks necessary for successful commercialization. Funding the Future Synakis is concurrently seeking seed investment and focusing on several critical milestones: Good Manufacturing Practices (GMP) setup, FDA regulatory filing, and preparation for clinical trials. While its primary focus is on North American investors for practical reasons like time zone alignment and ease of communication, they're keeping their options open for international investment, particularly in regions like China, which possess...

Emilio Sacristan is the chief scientific officer of Vacere, a company working to eliminate brain damage and death caused by ischemic stroke and vasospasm. The company's CEREFAST™ medical device proved successful in initial human trials, and the team is now conducting multicenter testing in the US via a National Institutes of Health (NIH) grant. CEREFAST™ significantly improves blood flow to the brain at the earliest interventional opportunity by stimulating facial nerves during a two-minute, non-invasive procedure. “Time is brain,” explains Emilio, and in addition to almost immediate treatment for stroke, the product has been shown effective for the treatment of vasospasm (a potential fatal result of post-aneurysm treatment), and migraines. Emilio and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, hosted by Life Science Nation. (Wendy recently interviewed Dennis Ford, founder and CEO of Life Sciences Nation, which specializes in fundraising for life sciences companies.) From “Crazy Idea” to Modern Medical Device Emilio is also a Professor of Biomedical Engineering at Universidad Autónoma Metropolitana-Iztapalap (UAM-Iztapalapa) in Mexico City. He holds dual Spanish citizenship and speaks four languages (Spanish, English, French, and German) and holds a Ph.D. in Biomedical Engineering from Worcester Polytechnic Institute (WPI). Yet even with such a storied background, Emilio found himself at first skeptical of the whole concept. When his partner first floated the idea, Emilio said “it’s never gonna work.” Stroke is the leading cause of disability and the second leading cause of death worldwide. In the US, at least 800,000 people suffer a stroke each year, resulting in over 140,000 deaths. Worldwide, those numbers reach 15 million and 7 million, respectively. And these numbers ignore the lifelong disabilities affecting the survivors. As such, the global implications of CEREFAST™ are profound, representing more than just a medical innovation; it signals a potential paradigm shift in emergency neurological care. In many regions, especially those with limited medical infrastructure, stroke patients often receive minimal treatment at the time of the incident and, as Emilio repeats, “time is brain.” Navigating Global Markets with Linguistic and Cultural Expertise And just as Emilio and his partner had to jump through interdisciplinary regulatory and engineering hoops to secure approval for human trials, the company’s go-to-market strategy was built upon a deeply nuanced cross-cultural understanding and attention to linguistic details. Emilio’s linguistic arsenal lends him a significant competitive advantage, allowing him to navigate complex international negotiations, build relationships, and understand subtle communication cues. Except in China, one of Vacere’s primary target markets, where even English-speaking colleagues can be unreliable in their written translation and spoken interpreting. Emilio admits that he works with a professional language services company for dealings in China, adding that he more than occasionally finds himself translating or reviewing documents in one of his three fluent languages, time that could be better spent on the company’s core competencies. “Of course we’re going to do this worldwide," Emilio says, starting with expansion into Europe and the start of a migraine study in Latin America next year. When approaching new markets and potential investors, he adds, follow a deliberate and thoughtful cultural playbook, strategically avoiding potentially divisive topics like politics and history, and instead focusing on universally engaging subjects that foster positive dialogue. "Innovation is a topic that everybody likes," he notes. "Everybody has their own definition, but everybody wants to talk about it." The Multilingual Entrepreneur's Toolkit For any entrepreneur looking to expand globally, Emilio suggests keeping these skills at the...

Catalina Vasquez is co-founder and COO of Nanostics Inc., a Canadian biotechnology company that develops and commercializes innovative diagnostic tests. Established in 2017, Nanostics leverages machine learning to generate biomarker-driven improvements to patient care. Its larger aim is to revolutionize personalized medicine through early and accurate disease detection. Catalina and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, hosted by Life Science Nation. (Wendy recently interviewed Dennis Ford, founder and CEO of Life Sciences Nation, which specializes in fundraising for life sciences companies.) At the heart of the company's origin story is Frank Sojonky, a visionary whose late-stage prostate cancer diagnosis proved a pivotal moment of transformation, both personally and professionally. His life’s work became an extraordinary commitment to advancing research to prevent other families from experiencing the same devastating experience. Through strategic fundraising and a partnership with the Alberta Cancer Foundation, Sojonky's vision took root. His legacy became the cornerstone of what would evolve into ClarityDX Prostate (known as CDX Prostate in the US), a blood test more precise and reliable alternative than existing methods. The Science Behind the Innovation At its technological core, Nanostics represents the cutting edge of medical artificial intelligence. The company’s proprietary approach harnesses machine learning to integrate complex clinical data with standard and proprietary biomarkers. The result is a sophisticated algorithm that generates a precise risk score, predicting the presence of clinically significant prostate cancer with unprecedented accuracy. So the advantage of ClarityDx Prostate is that it is a software as a medical device. It's an algorithm. What sets Nanostics apart is its ability to differentiate between aggressive prostate cancer and indolent forms of the disease, meaning cases that are asymptomatic or marked by slow progression. By providing a percentage-based risk assessment, the technology empowers both patients and physicians to make more informed decisions about potential biopsies, which come with “significant adverse effects,” even death. “For the family to find out later on that the patient did not have prostate cancer,” Catalina continues, “that's what we want to avoid.” Global Validation Through Rigorous International Research The company’s strategy included a comprehensive international validation strategy designed to recruit over 3,400 patients across multiple countries, including Canada, the US, and Europe. This ambitious approach involved collaborations with prestigious institutions like UCLA, Johns Hopkins University, University of Calgary, University of Alberta, and Thomayer University in Europe. As soon as the company launched its clinical trials, the COVID-19 pandemic happened, temporarily halting patient recruitment at multiple sites. Catalina and her team were unfazed, however, and she says: In reality, after COVID abated it was actually quite easy to recruit for this study because patients really, really wanted to help. So out of a hundred patients, 97-98 of the patients would agree to participate in the study. Because of that, the recruitment was super quick. We were able to recruit 1500 patients in less than a year. There is a worldwide need for improved prostate cancer screening. The company’s recruitment strategy originated in English only, but quickly expanded to attract participants from South America and the Middle East, concurrent with a search for more diverse candidates domestically. Marketing in different regions requires a nuanced understanding of cultural differences in healthcare. As such, the company doesn't simply deploy a one-size-fits-all solution but carefully adapts its technology and messaging to specific regional contexts: Catalina emphasizes that global expansion isn't just about scientific...

Akeem Gardner is the CEO of Canadian biotech startup Canurta, a Canadian-based biotech company that specializes in extracting and enriching rare molecules found in nature and developing them into botanical therapeutics to help patients who are suffering from major neurodegenerative and inflammatory diseases. More specifically, botanical drugs rely on a variety of technologies to gather and upcycle plant waste, and Canurta has created processes for creating purified standards and molecules that can eventually go to market: “But what many people don't know is that the FDA actually gives you a botanical drug development guidance of how you could handcraft or properly formulate molecules from plants to get specific ingredients that target specific mechanisms that can help patients with the neuroprotection that they need to extend their lifespan but also live more healthy lives across a longer lifespan.” Akeem and Wendy connected at the Redefining Early Stage of Investment (RESI) Conference in Boston, hosted by Life Science Nation. (Wendy recently interviewed Dennis Ford, founder and CEO of Life Sciences Nation, which specializes in fundraising for life sciences companies.) In this episode, Akeem describes how his company leverages global connections and diverse perspectives to drive growth and innovation, especially for its most advanced program, dedicated to the treatment of ALS, or Lou Gehrig's disease. Building International Partnerships Akeem has made it a priority to cultivate international partnerships, recognizing the need for a global patient pool. To facilitate these global connections, he tapped into resources available to Canadian companies: federal and provincial governments subsidize attendance at industry events and make introductions to key organizations. "They create spaces for Canadian companies, so that I just have to get on a flight, get to where the opportunity is, or the event is, and then they help us with matchmaking and making introductions to the organizations that we need to meet," he explains. Akeem's own diverse background also contributes to his global mindset. Having studied law in the UK before founding Canurta, he is comfortable navigating different cultures and languages, “always so excited about how people are living in different places in the world," he adds. Leveraging Language and Culture Akeem encourages his team to embrace existing technologies to mitigate the barriers that language and culture sometimes creates. He lauds the practical uses of generative AI and Google Translate, but only for translating signs or navigating public transportation in foreign countries. Clinical trials, regulatory documents, and sensitive information require professional translation, however, and Akeem relies on his experienced team for translation management so that he can focus on building relationships with key opinion leaders and patients. He has learned along the way that fostering that focus in other areas of the company is also important. For example, managing cash flow rather than chasing every opportunity that presents itself is key to long-term success, especially during difficult economic times when capital is scarce. Another lesson Akeem has learned is to trust his own instincts and his team’s capabilities, rather than relying solely on advice from outside experts. "Everyone has an opinion, but they're not always experts in the day-to-day of what you're doing," he said. Staying grounded in the realities will help you navigate the complexities of biotech development with confidence. The Power of Diverse Perspectives His background as a non-traditional biotech founder has also taught him the value of embracing diverse perspectives. With a background in law and agriculture, he initially grappled with imposter syndrome, feeling that he lacked the scientific credentials of his peers. Since, however, he has come to see his unique perspective as a strength: "I used to have a lot of imposter...

In this episode, we hear from Tom Gallagher, CEO of Diversified Automation and a former Penn State classmate. Who'd have thought we'd reconnect all these years later via a podcast? Listen for Tom's real-world insights and career advice shaped by his global business experience. Tom recently stepped into the role of CEO at Diversified Automation following its acquisition by Leadec, a German powerhouse in the automotive and manufacturing sectors. Their newfound, shared vision leverages Leadec’s international scale to develop opportunities for innovative and advanced automation in manufacturing and package handling. The companies have worked with Mercedes-Benz, Ford, Chevy, Amazon, DHL, FedEx, UPS, and more. Tom regrets not having learned German, though he couldn’t have predicted the country’s influence on his career at the outset. He explains how government-mandated work safety and life balance requirements mean German citizens can only work so many hours a day. During one visit, he and his associates were not allowed back in the building after an evening meal! His global experience yielded other surprising customs: Like many in global business, Tom grappled with common concerns: How do you pick the right partners in unfamiliar territories? How can you anticipate trade limitations varying wildly from country to country? He recounts instances where equipment from China was barred entry into Korea and Vietnam, causing unexpected delays. In every case, a good and knowledgeable partner will help to avoid these issues. Similarly, Tom's experiences underscore the value of expertise in translation, interpreting, and communication across language barriers. He found bilingual professionals with relevant industry knowledge invaluable for technical discussions and high-stakes negotiations. Their nuanced understanding of language and subject matter far outperformed general translators or AI solutions, especially in technically complex fields. His final, best advice: “If you have the opportunity to do international work, do not hesitate to say ‘YES!’” You will learn so much through travel, the interactions with local people, the experience of seeing how people live, and exposure to different cultures. Don’t worry about failing,” he adds. “You may. That’s OK. You will learn from it.” Links: Website: https://diversified-automation.com/ https://usa.leadec-services.com/ LinkedIn: https://www.linkedin.com/in/tom-gallagher-5b52934/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Dennis Ford is founder and CEO of Life Science Nation, a sourcing platform for market intelligence and prospect pipeline development for life sciences companies. An expert in the art of international fundraising, he is also the author of The Life Science Executive’s Fundraising Manifesto. In this episode, Dennis shares real-world insight into how fundraising in life sciences has evolved, and why you’ve got to “go global” to succeed in today’s competitive marketplace. The Four Pillars of Life Science Put simply, the life sciences industry can be broken down into the “four Ds”: Drugs, Devices, Diagnostics, and Digital Health. Each category has its own timeline and development path – from the lengthy 15-20 year process for drugs to the relatively quick development cycle for digital health solutions. Typically, startup companies need to target 600 to 800 potential investors to run an effective 9-18 month fundraising campaign. This number isn’t arbitrary – Dennis has seen even established health tech funds vetting 800 companies just to make three investments in a year. Similarly, the global life sciences market can be divided into three main regions: While there is activity in other regions like Africa and South America, these three markets represent the primary playing field for life sciences innovation and investment. This new reality means going global isn’t an option, it’s a necessity. Dennis explains: “There just aren’t enough investors in a particular region to allow them to play that numbers game.” Even in rich ecosystems like Boston/Cambridge or Silicon Valley, staying local severely limits opportunities. The Language Myth One common concern about going global is the language barrier. Dennis easily counters that notion as an obstacle, explaining that English typically serves as the universal language in the field, particularly among academic and research institutions. Investors, licensing partners, and other stakeholders are often comfortable communicating in English, “and I have not seen in my conferences or any of my trips that me not speaking the native language is a deal killer,” he adds. Interestingly, while language should never stop you from expanding globally, Dennis discovered an unexpected cultural challenge: the persistence required in following up with potential investors. Entrepreneurs from certain cultures are hesitant to make multiple attempts to reconnect, viewing it as inappropriate or “spammy.” Dennis emphasized that success often comes after numerous attempts – sometimes even on the twentieth contact. He describes in detail how syndicated investments typically work, with a lead investor taking primary responsibility for oversight and management of the company through regular meetings and milestones. Even with a diverse group of investors from different countries (e.g., Chinese, European, and American investors), the lead investor – often chosen based on geography or similar criteria – handles the day-to-day management while other investors participate at key milestones and funding calls. To facilitate these international connections, Life Science Nation holds RESI (Redefining Early Stage Investment) conferences every few months, providing regular engagement beyond one’s local region. Once a company secures international funding, Dennis advises companies to source investors from different regions because they have “footprints” in a particular region; more than just capital, diversity provides valuable regional expertise, connections to distributors, and insights into local markets when it’s time to commercialize. True Stories Translate Ultimately, what matters most to investors? While scientific validity is crucial, Dennis explains, investors are equally – if not more – interested in the human story behind the science. He shares a powerful story of an experienced pharma executive who was initially reluctant to share the story of how her son’s illness inspired her work. Once she finally...

Robert (“Bob”) Sinner is President of SB&B Foods, the largest grower of “identity preserved (IP), non-GMO food-grade” soybeans in North Dakota. In this episode, Bob tells us how his family’s 5th generation farm identified a need for soybeans in Asia and how he pursued and won that business. Bob’s father George served as governor of North Dakota from 1985 to 1992. During his tenure, George Sinner resolutely tried to attract Japanese investment into the state, which inspired Bob to help US companies export into Japan to develop relationships and accelerate the creation of new opportunities. To start, Bob embarked upon a trade mission to Japan, alongside a hired interpreter. Once there, he found mature markets looking for a consistent and reliable supply of soy beans, the agricultural product needed to produce uniform product like tofu and soy milk. At Rapport International, we encourage our clients to employ interpreters as “cultural conduits” – native-speaking interpreters are valuable sources of in-country information. In that vein, upon his return, Bob enlisted the help of North Dakota State University professor Dr. Sam Chang, originally from Taiwan, who had previous experience working with soybeans. Together with a visiting Taiwanese trade team, the group conducted sensory testing, a scientific method for evaluating a food's characteristics – taste, texture, odor, and appearance, for example – to determine which product was of the highest quality. After their visit, the Taiwanese group donated the sensory testing equipment to the N. Dakota State University, which is still in use today! SB&B is now operating in 16 countries, most of them within Asia because of the high per capita consumption of soybeans. Its customers manufacture over 25 different foods – including the Japanese “natto,” a healthy, fermented food that helps with heart and brain functioning. Bob says their success is due simply to always paying attention to what the customers want and catering to those wants. The best marketing, he adds, is accomplished by: His biggest, ongoing challenge involves shipping containers. Most containers coming into the US are 40 feet long and carry bulky yet lightweight consumer products into metropolitan areas. Shipping heavy agricultural products from a rural area to Asia, where they prefer smaller containers, presents a twofold problem. First, containers are parked in US metro areas and require transport to rural areas. Second, the smaller containers Asian buyers want are closer to 20 feet long, half the size of standard containers, because they unload within smaller and tighter spaces. Bob continues to work with US and foreign officials to find solutions. His best advice to new exporters: Listen to the full episode to learn more. Links Email: Rsinner@SB-B.com Website: https://sb-b.com/ LinkedIn: www.linkedin.com/in/bob-sinner-a058322a Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Andrew Jason is Director of Ecosystems at Grand Farm in Fargo, North Dakota, which describes itself as “a collaborative network of growers, corporations, startups, educators, researchers, government, and investors working together to solve problems in agriculture through AgTech and innovation.” Gone are the days when farming was synonymous with the image of a forlorn couple, pitchfork in hand, à la Grant Wood's American Gothic. In this episode, Jason explains how AI and innovation has inundated the farming industry as much as it has every other, spurring advancements in international agriculture, especially when it comes to sustainability, data collection, and the use of drones and robotics to increase efficiency and production. Farming is also near and dear to the host, Wendy Pease, whose father was a professor of international agriculture at Penn State in the 1970s. Then, “high tech” meant setting up a computer to monitor her father’s potato research storage facility at Black Moshannon State Park in Pennsylvania. If the temperature dropped, for example, the computer called him at home to alert him. Late one night, Wendy sleepily received a phone call from an old-fashioned computer voice saying: “There is a power outage at the Potato Storage area,” which she found amazing! Grand Farm sees vast potential in connecting global communities to share ideas and technologies, with the aim of advancing agriculture production. Of late, Andrew has seen a lot of development in AgTech out of Brazil, Ukraine, Europe, Australia, and Japan. In fact, Grand Farm recently announced a partnership with Fukaya City, Japan, whose Deep Valley Initiative is an AgTech thought leader. The collaboration marks a major step toward an international approach to innovation in agriculture. Every partnership comes with its challenges, and Andrew shares the ones he’s discovered that are particular to international connections: North Dakota Trade OfficeLearn more about Grand Farm and their initiatives by listening to the full episode. And click here to donate to this worthy organization. Links: https://grandfarm.com/calendar/ Website: https://grandfarm.com/ LinkedIn: https://www.linkedin.com/company/grand-farm/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Connect with Jason - https://www.linkedin.com/in/andrew-jason-09755161/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Navigating cultural differences while building a company culture or consistent brand voice can be challenging, but it is not insurmountable, says Carole Copeland Thomas, a recent podcast guest on The Global Marketing Show (episode 131), especially with support from knowledgeable experts and a willingness to learn. Carole is founder of C. Thomas & Associates, a full-service speaking, training, & consulting firm specializing in multiculturalism, diversity, and women’s issues (http://www.tellcarole.com/). In this episode, she outlines how culture – and cultural differences – affect relationships, and she provides real-world advice on successfully navigating and incorporating those differences into local and larger communities. Carole has found that the definition of “culture” can be nebulous; when asked, we all instantly know what it means, but it’s hard to define. By her description, the concept encompasses the social norms, behaviors, knowledge, arts, beliefs, customs, and habits of a group of people. As an expert in diversity, equity, and inclusion (DEI) for over 40 years, she likes to explain it using the “Iceberg Model of Culture” developed by Edward T. Hall in 1976. The top of the cultural iceberg stays visible to everyone. It contains the community’s fine arts, literature, music, food, games, and dress. People outside the culture see these superficial elements. The bottom of the iceberg, the biggest part of any culture, hides beneath the surface and influences less quantifiable aspects like: The examples above illustrate only a small number of all the cultural components that might affect company culture and co-worker relationships. Other areas of potential contention commonly include: Typically, people understand their own cultural norms yet underestimate how much cultural differences can affect relationships. Listen to the full episode for additional details on these real-world culture-clash situations Carole has managed. In one instance, a client company’s employee hailed from an island in the Caribbean where non-intimate physical contact was acceptable in the workplace, among all genders. Issues arose when others misconstrued the behavior as inappropriate. By helping the team understand the employee’s cultural context and setting clear expectations, Carole was able to restore respectful, solid working relationships and a unified company culture. In another instance, a young manager was hired to lead a team of about 25 people, including a dozen employees older than the new hire. Unbeknownst to the new manager, the older Black members of the team expected the manager to address them as “Mr.” or “Ms.” to show respect for the age difference. Resentment within the team grew, until Carole and the manager uncovered the issue and found appropriate ways for the manager to address the workers. As Carole puts it: in some cultures, age commands respect and in others, it’s about one’s status or position. Navigating through this can be difficult. And even with her expertise in cultural issues, Carole has encountered cultural challenges in her personal life. When she became a grandmother, she wanted a special name instead of being called "grandma" like her mother. Since she frequently travels to Kenya, Carole decided she liked “nyanya,” Swahili for “grandma.” Only after years of her granddaughters calling her nyanya did she learn that the familiar name for grandma in Swahili is actually “bibi.” Throughout, her granddaughters were actually using the formal term for "grandmother,” which is also Swahili for "tomato"! Solutions In every cross-cultural situation, Carole first aims to build rapport and alignment. She assesses the manager’s awareness and willingness to improve relationships and if she can work with the individual, she collaborates with them to enhance the team, starting with fundamentals such as: Ultimately, Carole’s best advice for working cross-culturally starts with you: Carole’s experiences are real-world...

Issa Kildani is the founder of Ambrosia Ventures, a life sciences consultancy that provides strategic, regulatory, and quality compliance solutions. He’s consulted with pharma giants, yet over the last 10 years has used his experience to guide startups and small companies toward global market entry​​ with his project management, quality assurance, and regulatory affairs expertise. In this episode, Issa describes taking M Biologics, a pharma company with a manuka honey-based pet pain reliever, into Canada and Brazil. He advises early-stage companies to evaluate global markets and competitors to determine a way to stand out from competitors. Because Michigan is geographically close to Canada, for example, expansion into Brazil instead might be a better strategy. And always validate the market research, even if it’s your own. Interestingly, studies show that CEOs that speak other languages or come from other countries are more likely to export. And M Biologics is a case in point – its CEO, born and raised in Egypt, was Issa’s college classmate! Building blocks for quality and regulatory requirements For early startups every endeavor must be cost-effective, so Issa has created a regulatory strategy with built-in cost savings. His approach is to streamline and standardize international regulations to reduce redundancies: “instead of doing several independent audits we clump them together methodically,” he says, which in the end saves cost while acquiring customer brand trust, limiting liability, and standing out from the competition. Issa describes the European Medicines Agency (EMA) as the “international gold standard” for regulatory framework; their requirements are the most stringent and control quality, safety, and efficacy of a device throughout the product lifecycle. “How I like to approach this, aside from the market credibility of getting the ISO 13485 certificate,” says Issa, “is to take advantage of expanding past that by aligning it with other international standards.” Depending on a company’s maturity, Issa will determine whether to take a risk management approach using ISO 14971, adopt a more stringent European MDR/IVDR strategy, or incorporate WHO requirements for less regulated markets. Issa adds that pinpointing initial markets provides a roadmap for meeting regulatory requirements, which leads to a more comprehensive audit. The process ultimately positions the brand as a serious player in the industry while “enhancing credibility and attractiveness to eventual strategic partners and global distributors.” It’s a key differentiator, according to Issa, unlike the common pitfall of starting with less-regulated markets, which “doesn’t help in terms of establishing consumer trust, or even brand reputation.” Similarly, approach global marketing from a position of solid regulatory compliance to “signal a commitment to quality and safety.” Messaging should emphasize: The goal is to create messaging with a global eye view, which then makes adherence to ISO standards for translation that much easier. “Translation is its own beast,” Issa says. He relies on study groups that mirror target populations to ensure that messaging is “global friendly” – messaging used in the US should resonate in Brazil and the EU, for example. Generative AI can be helpful for gist translations, Issa says, but “there are certain words that aren’t easily translatable, and AI won’t register that.” So always consult with an expert to ensure accuracy. Issa speaks four languages! His favorite word, among the lexicons of English, Spanish, Arabic, and Jamaican Patois is “na’eeman,” an expression generally used to denote cleanliness – “I just had a shower, na’eeman” or “I just got a haircut, na’eeman” – but can also stand in for other, unrelated situations, like “I’m late for a meeting, na’eeman.” “There isn’t a real definition or description, that’s why I love it so much,” he says, “you can just use it and input it in so many different...

Christy Brown is CEO of Dr. Noze Best, an innovative pediatric healthcare company committed to bringing hospital-grade respiratory devices into the home. After only two years with the company, Christy already has a plan to launch their direct-to-consumer medical device in 10 countries. She’s a mover and shaker! The company’s mission is to make sure that every child can breathe – and for parents to feel “confident and supported” when caring for their child’s health. Current offerings include nasal aspirators and accessories, and a full product line designed to help children breathe better is also in development. To launch globally with purpose and intention, the Dr. Noze Best team developed a proprietary tool – the “Complexity Calculator.” The Calculator measures various elements that could affect a product launch in a new country – population and birth rates, economics, legal frameworks, regulatory requirements, and logistics, for example – so the team could prioritize the countries by opportunity and ease of doing business. At the outset, Christy describes feeling “isolated” by her lack of connections in global trade – she didn’t know who to turn to for advice and guidance, or how to find partners. A fortuitous post on an Entrepreneurs’ Organization (EO) WhatsApp chat group connected us – my brother Scott suggested Christy reach out to me. Thereafter, the company worked with the US Commercial Service (USCS) in Atlanta to make connections in their initial target countries. Christy raves about the services they received from both USCS Atlanta and the Georgia Department of Economic Development (GDEcD). With assistance from both agencies, Christy connected with consulates within initial target countries to acquire valuable information about how to enter local markets. There will be challenges along the way, Christy says. Her team struggled to meet projections when faced with unanticipated and uncontrollable issues and with setting up direct-to-market shipping from their Asian manufacturer, finding capable distributors, and steering the medical device through the various regulatory bodies. Regardless, her first and best advice for others starting the export journey is simple: “Do it!” Once you do: Christy’s favorite foreign word is “bonjour”! It’s a welcome “hello” in France and other French-speaking countries, she says, and to share the joy in Atlanta she’s localized the phrase to “bonjour y’all”! Links: christy@drnozebest.com Website: www.drnozebest.com LinkedIn: https://www.linkedin.com/in/christy-brown-a54aa0/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Steve Becker is committed to improving human health by unlocking the power of molecular diagnostics. In the world of medical devices and diagnostics, you might think the latter falls under the purview of the former, says Steve, yet: “from a regulatory standpoint, diagnostics is covered by a lot of the medical device rules.” Unlike medical devices like implants, however, “diagnostics is really the ability to measure your body, whether you’re healthy or sick; and if you are sick, what’s making you sick. Helping to uncover your health status and what you can do to improve is really the heart of diagnostics.” In this episode, Steve shares the lasting lessons learned during his stints at Thermo Fisher, Quest Diagnostics, Agilent, and GE Healthcare, where he directed sales, global marketing, business development, and licensing. Learn how to navigate within a constantly changing healthcare business landscape, from the first steps toward launch to the regulatory requirements and cultural differences that can affect development, distribution, and product adoption. Going to market on one’s own is a big task, says Steve – find the right partners to mitigate the commercial regulatory tasks and technical risks. Ultimately, the company whose name is on the product assumes the liability – “they’re the ones on the hook” – but relying on specialists along the way improves your chances of a streamlined launch. During his tenure at Quest Diagnostics, the company built a “global diagnostics network,” pooling the capabilities, diagnostics insights, samples, testing and sharing of leading companies into one place. In the end, Quest brought the first Zika test to market, reliant upon colleagues. In fact, choosing your initial target audiences can come into play even during development, as “diseases become more localized and companies are made for those markets,” Steve adds. Pay attention to “how to get paid for what you do,” your reimbursement strategy. In diagnostics, for example, ask yourself: Interestingly, reimbursement can often become political; for example, in the US it’s widely accepted that breast cancer can come with a genetic indicator (the BRCA gene) – and the patient can take prophylactic steps or opt for watchful waiting. In contrast, Steve says that: In a single-payer system, if you were 49 you could take the [BRCA] test; if 50, no test. The calculation includes risk, quality of life, total cost – someone makes a decision, snapped the line, and that’s where it landed. Add to that differences stemming from culture and tradition, and it makes sense to work with local, in-country partners to navigate your go-to-market strategy, especially with regard to regulatory requirements. To date, Steve says that European companies would often launch first domestically and then in the US because it was easier, but that’s starting to change as the EU changes its regulatory stance. Regulations are stricter now in Europe, with liability going as far back as the manufacturer – for translation quality, for example. Diagnostic tests are now treated more like a medical device, including review by regulatory bodies, etc. – it’s a lot more work but it’s a good thing. Think globally but act locally, Steve adds. You may use the same assay (investigative procedure for qualitatively or quantitatively measuring the presence, amount, or functional activity of an element) as in the US but a local company can handle the technology, packaging, regulatory requirements, approvals, and clinical evidence and market under THEIR brand, with their own branding and local language. This happens consistently, across IV diagnostic companies – Abbott, Siemens, Roche, Thermo Fisher – and all of them have to treat each of their launches “locally,” working with in-country regulatory bodies to get approvals. And vice versa: one of the first Covid tests distributed in the US was manufactured by a Korean company but marketed as a known American brand. In fact, working...

Rapport International President and Owner Wendy Pease was a recent guest on Michael Becker’s Identity Praxis podcast. Michael is a strategic advisor to Fortune 500s, startups, and non-profits worldwide, with a focus on global marketing and product, new market, and business development. In this episode they discuss the importance of translation and interpretation in this interconnected world. Translation can be traced back to the Rosetta stone, considered the first written translation in history and the key to deciphering Egyptian hieroglyphs dating as far back as 196 B.C.E. Things got interesting with the introduction of machines, explains Wendy, especially at the advent of WWII and codebreaking and spying. All of it was word-for-word translation, which didn’t work then and still doesn’t today, she adds. Even adding grammar rules and machine intelligence leaves us with problematic options like Google Translate and ChatGPT. Think about it: “language is a very dynamic, living thing,” Wendy explains. We’re from New England and California and that’s reflected in our speech patterns, word choices, cultural bents – let alone adding in different languages…. And even large, well-known brands with human translators run into issues; just look up Electrolux, Got Milk?, or Braniff Airlines. To do it right in this world we can’t continue to do everything manually but we need to do it right. Michael asks: “Can we build IP along the way and elevate our community, too?” The solution, according to Wendy, is to leverage translation technologies – proven ones that exist today as well as those emerging daily – only under the guidance of a “detail-oriented, qualified, professional linguist with subject matter expertise.” The efficacy of translation technologies also depends on project requirements – TripAdvisor can use translation memory for certain standardized, repetitive content, for example, like room descriptions and amenities. A large retailer necessarily has more detailed requirements – a handbag to one person is also a purse, pocketbook, satchel, clutch, etc. As such, large conglomerates are attempting to create IP in the form of customized large language models (LLMs), Wendy adds, not only for increased efficiency but because common options like ChatGPT and Gemini incorporate faulty Google Translate content, Internet disinformation, and even false content in the form of hallucinations. In fact, the world changes so vastly, and so quickly, that even fundamental services like translation – for the written word – and interpretation – for the spoken word – are now intermingled in the form of live chat, says Wendy. Unlike chatbots and AI chats that rely on translation, translator-interpreters are facilitating a real-time conversation in the written format. In that light, guest and host agree that the future of computer-aided translation is clearly promising, and it’s simply beneficial to proceed with caution. Links: Website: Identity Praxis, Inc. LinkedIn: https://www.linkedin.com/in/privacyshaman/ Tinderbox: https://www.youtube.com/playlist?list=PL6MVDtSfcKxd2XLpenMAd9H4VknDyn6oz Connect with Wendy - https://www.linkedin.com/in/wendypease/ Connect with Michael - https://www.linkedin.com/in/privacyshaman/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Waseem Kawaf has built over 400 websites and is an expert in global user experience (UX). He’s currently the co-founder of Seicho Syndicate, where he and his partners design and develop great user experiences for their clients. Prior to Seicho, Waseem served as Global VP of Digital Experience for Stanley Black & Decker and worked in marketing agency roles. “Seicho” means exponential growth in Japanese, says Waseem, and his company is aptly named. When prospects and clients have good user experiences throughout their journeys, they stay longer and generate more revenue. UX optimization can be a daunting prospect for companies of any size –Waseem suggests breaking the project up into small steps, to gain insight into your users. Pick data from the call center, chat, trade shows, or your website to analyze and build the “voice” of the customer. The goal should be to keep every interaction “simple, connected, and frictionless,” he advises. “And rather than starting UX strategy meetings with brainstorming, try an ‘Outside-In’ philosophy instead, which works from the customer’s perspective and gives clear direction for your initial moves, an important lesson he learned while earning an MBA from MIT. Throughout his career, Waseem has worked in the global arena. That broad experience made it clear to him that companies must consider local markets – not all users around the world consume information, interact, or buy the same way. By taking a collaborative approach rather than an authoritative one, teams can take all users into account. It may take longer but will lead to greater success. And in the end, the Pareto principal will apply – 80% of the work can be globalized and 20% localized. The Stanley Black & Decker team created content in English and then translated any material deemed important or helpful into local languages. Waseem’s best advice: “Stay hungry and humble. Develop your emotional intelligence, stay curious, and respect the ‘Power of WE.’ Consider yourself the stirrer in a lovely drink – by bringing all the different tastes and flavors together, you create a magical experience.” Links: Website: https://seichosyndicate.com/ LinkedIn: https://www.linkedin.com/in/kawaf/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com

Ivo Verhaegh, founder of Powerhouse AI, came to entrepreneurship through an interesting path. He knew he wanted to start a company, work with a co-founder, and live abroad from his home country, the Netherlands. Since he didn’t have an idea for a business and couldn’t find a co-founder on the same timeline for starting a business, he applied to a program called Entrepreneur First. The organization screens hundreds of applicants, accepting only 1% of the people who apply; a group of 80 are ultimately accepted and work with each other to find co-founders. Venture capitalists sponsor the Entrepreneur First program, through which they find viable businesses with co-founders that click, elevate each other and the business, and are productive. While in the program, Ivo met his co-founder (and now Powerhouse AI’s Chief Technology Officer) Kushal Pillay – together they worked toward an affordable and manageable robot-driven warehouse environment. Ultimately, they created an app that automates the counting and checking of inventory and pallets in warehouse storage, maximizing productivity. Since the launch, they’ve won clients including DHL, Unilever, and numerous logistics companies. Funded and guided by investors, Ivo and Kushal were encouraged to think BIG and globally from the start. Being based in Singapore, which has a small domestic market, they assumed they would sell into Southeast Asia. Market research showed, however, that labor is plentiful and inexpensive in the region, so warehouse operations were satisfactory as-is, unlike in the US, which embraced the technology. Currently, Powerhouse AI offers its technology solely in English, but will soon translate for their Spanish, Chinese, Malay, and Hindu target markets. Ivo understands how important translation is and that Google Translate or AI are unreliable, so he plans on using professional translators. Some of the bumps in the road Ivo met along the way include: Currently, the company’s ideal client has over 100,000 square feet of warehousing space and requires precision in inventory management, making Powerhouse AI a clear fit for companies in the healthcare, pharmaceutical, consumer product, and automotive industries. Ivo’s best advice: Ivo’s two favorite foreign words are good ones: Ivo certainly represents both of those words! Engaging, creative, smart, driven and very self-aware, he is a podcast guest to remember! Links: Website: https://www.powerhouseai.com/ LinkedIn: https://www.linkedin.com/in/ivoverhaegh/ Connect with Wendy - https://www.linkedin.com/in/wendypease/ Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com