For startups, breaking into highly competitive international markets is both a challenge and an opportunity. New York, known as a global hub for business and finance, also boasts a cutting-edge healthcare and biotech industry—making it a dream destination for many promising Taiwanese startups.
However, entering an unfamiliar market requires more than just understanding U.S. local needs and showcasing strong product technology. Knowing how to engage with the local VC ecosystem, secure funding, and craft a solid Go-To-Market (GTM) strategy is critical to success.
That’s exactly why we continue to promote the IP2 Scale Out Program for the fourth consecutive year—to help startups aiming for the East Coast prepare for their next big move.
In this interview, we spoke with George Hsu, founder of Aulea Medical, about his experiences in New York. He highlighted that when entering international markets, face-to-face interactions with investors, industry leaders, and potential partners are the most effective way to build relationships—and the key to thriving in the U.S. business landscape.
Building Networks Is Key to Long-Term Success in Fundraising and Market Entry
George emphasized that his primary goal in entering the New York market was to drive fundraising efforts and develop a strong market entry strategy. The city’s unique market and investment environment present an ideal launchpad for startups.
"Once you land here, gaining local exposure and building a strong network helps immensely on both the fundraising and GTM fronts."
Succeeding in New York isn’t just about having cutting-edge technology or innovative products. It’s about building meaningful relationships with local VCs and industry players. These connections go beyond short-term business deals—they’re based on long-term interactions and trust, which ultimately lay the foundation for future growth.
"Business collaborations often require long-term planning—you can't expect to seal deals within a month. The most important thing is to build relationships with local people. That’s been crucial for us in establishing our presence in New York."
Three Core Strategies: Face-to-Face Networking, Localization, and Feedback Loops
When it comes to building strong relationships with New York investors and partners, George stressed the importance of face-to-face networking.
"My first goal was to come to the U.S. and engage directly with industry experts and doctors, spark their interest, and get some feedback. The second goal was to meet potential investors... and establish connections with potential partners. These networks and resources could play a major role in our future business development."
This kind of direct interaction not only gives startups a more authentic understanding of local market needs but also showcases their product's value and potential. This, in turn, allows them to fine-tune their market strategies.
Additionally, understanding local culture and the market environment is crucial. Successfully integrating into the local ecosystem and grasping consumer needs are key drivers of business growth.
"One of my goals was to understand the unique aspects of the New York market and develop targeted strategies accordingly."
A deeper understanding of the local market helps create more precise product promotion strategies.
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