TERUS forum launched to help UK firms break America
Technology companies hoping to expand into the US market are faced with a humbling prospect. The United States is a mature and competitive environment with established competitive players and different operational expectations that belie the many shared elements of language and culture. For the victors, particularly in technology, it also represents an Aladdin’s cave of business opportunity.
With over a thousand UK tech companies already operating in the US, and many more knocking at the door, a consortium of government and business professionals has launched TERUS, the Technology Executive Roundtable US, specifically to help technology and life science senior executives whose growth strategy involves expansion into the United States.
The founding partners of TERUS include the UK Department of International Trade, law firm Wilson Sonsini Goodrich & Rosati, accountancy and advisory outfit Frazier & Deeter, transatlantic business consultancy Marketing Partners, transatlantic insurance broker La Playa, immigration specialists Samartin & Friends and Silicon Valley Bank.
Daniel Glazer, partner at Wilson Sonsini, leads the firm’s US expansion practice. "The US offers the promise of massive commercial opportunities and plentiful venture and growth capital. However, doing business and raising money in an unfamiliar, highly-competitive environment requires thoughtful advance planning and clinical execution," he said. “TERUS will provide practical US guidance based on the experiences of those who have already tackled these challenges."
Frances Moffett-Kouadio, director of exports USA for the UK's Department for International Trade said, "Today's launch of TERUS highlights the opportunities for the UK's technology and life sciences sectors to expand into the United States. With 15 UK tech unicorns and almost 1,500 UK tech companies already active in the US, I look forward to seeing even more businesses expand across the pond. TERUS will offer opportunities to share good practice and to hear from experts who have already achieved success through international expansion.”
Malcolm Joy, lead partner of Frazier & Deeter UK, said, "Software and digital companies, in particular, see the enormous opportunity of US expansion. This forum will enable them to learn from other entrepreneurial companies and experienced advisors to understand some areas where planning can help prevent unfortunate surprises."