International expansion is key to success for many startups, but also fraught with difficulties. Tofiq Qureshi of Innvotec has worked in several countries and brought technology to many more, so has lots of experience of internationalising.
Getting timing right is the first challenge and we discuss when is right for a startup to look overseas, and when is too early. We talk about figuring out when to find a local partner, what sort of partner and how to connect with them, as well as when to go direct and build a local presence instead. Tofiq also gives his views on overcoming language, culture and local regulatory challenges. We don’t ignore the pandemic either, as this has changed how several of these can be approached.
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M Tofiq Qureshi is the Managing Director of Innvotec. A serial entrepreneur with 20 years of business experience and 10 years of investment experience, he focuses on technology startups in Fintech, EdTech and general both in the UK and globally. His current focus is on UK-based direct ventures and overseas as a passive co-investor with close friends and family. He holds a MBA(P) from Imperial College London, and BS Electronic Engineer. He has been involved with financial institutions such as Bank of New York Mellon and Accenture in UK, and has completed several wealth management trainings in the UK, EU, USA and Asia.
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