Paving the Way for International Expansion: Introducing the Scaleup Globally Program

Expanding into new markets is a pivotal moment for any startup, offering both immense opportunities and significant challenges. It’s a thrilling yet daunting journey, full of uncertainties and a maze of obstacles that can determine the future of a business. However,  with the right strategy, the necessary knowledge, and a strong support network, this complex journey can be transformed into a rewarding path, turning potential obstacles into opportunities for global growth.

This is why we’re excited to introduce you to Scaleup Globally, a hybrid program designed to equip Austrian startups with the tools, knowledge, and connections they need to scale internationally. 

This program is part of the go-international internationalization campaign, a joint initiative by the Austrian Federal Ministry for Labour and Economy and the Austrian Federal Economic Chamber. We at Female Founders have developed the content, with WKO’s StartupNow initiative (part of WKÖ Startup-Services) serving as the event’s co-initiator.

We’re proud to partner with these key partners, bringing our expertise and experience to this program, and helping founders confidently navigate their expansion into new markets.

Tailored Support for Ready-to-Scale Startups

Scaleup Globally is designed specifically for Austrian startups that are ready to expand beyond their home market. This year, Female Founders is leading the content and implementation of the program, bringing not only our expertise in supporting startups on their investment journey but also our commitment to integrating Diversity, Equity, and Inclusion (DEI) into their internationalization strategies.

We’ve selected 15 promising startups from diverse industries—ranging from HealthTech and IT/SaaS to Greentech and Advanced Manufacturing. 

For many participants, the next strategic move is to strengthen and expand their presence within the DACH region. Meanwhile, others are already shifting their focus to other European markets, with some specifically targeting Northern Europe and some exploring opportunities in Western and Eastern Europe, indicating a broader European expansion strategy. Beyond Europe, the United States and key Asian markets, particularly Taiwan, Japan, and Korea, are significant targets. Additionally, a few startups are exploring opportunities in African countries, including Zambia and Kenya.

For a detailed look at our 2024 cohort, including their business models and unique challenges, explore their Company Profiles.

Regardless of the industry or target market, each startup will receive tailored support, with up to two representatives participating in the program to ensure they get the most out of the program. 

Overcoming Expansion Challenges with Tailored Support

A key element of our program design is the emphasis on addressing the specific challenges faced by each startup. To ensure we meet the specific needs of our participants, we conducted detailed onboarding calls before finalizing the content. These conversations provided us with valuable insights into each startup’s expansion goals, challenges, and priorities, allowing us to tailor our workshops to tackle the most critical issues head-on.

Despite the diversity in industries and business models among the participating startups, several common challenges emerged as founders prepared to expand into new markets. A major concern is the need for a clear, step-by-step expansion strategy, as many have previously relied on organic growth without a structured plan. Securing funding is another significant hurdle, with founders often struggling to convince investors of their product’s scalability and to navigate the complexities of fundraising in unfamiliar markets.

Brand visibility in new regions, adapting marketing strategies to resonate with local customers, and establishing strong partnerships also pose significant challenges. Additionally, startups are grappling with the complexities of developing effective employment strategies, allocating resources wisely, and building cohesive teams across borders. Regulatory hurdles—such as understanding labor laws, tariffs, and taxes in different countries—further complicate their expansion efforts.

Our program is specifically designed to address these challenges through targeted workshops and expert support. By focusing on the most pressing issues, we ensure that each startup is well-prepared to overcome obstacles and achieve success in their international growth journey.

Creating Connections: Building Networks for Expansion

In addition to the workshops, networking plays a key role in the program. We’ve organized two in-person events where participants can connect with fellow founders, exchange insights, and build relationships that support their growth.  The program will conclude with a final event at the invest.austria conference, where selected startups will have the opportunity to pitch their achievements to investors and engage with key players in the startup ecosystem.

Moreover, participants will benefit from direct connections with experts from local WKO offices in their target expansion countries, offering valuable local knowledge and support.

Empowering the Journey to New Markets 

Expanding into new markets can be a daunting task. However, with the right plan, the right knowledge, and a strong network, it can transform into an exciting journey filled with potential and opportunity. We’re thrilled to be part of this program, supporting our cohort of startups as they step into new markets, turning challenges into stepping stones and unlocking new opportunities for success on the global stage.

We’re ready to embark on this journey together and can’t wait to see the achievements these promising startups will accomplish as they expand.