Ten Finnish companies with right attitude and true potential head to conquer US markets

Press release 25.06.2018

Ten interesting Finnish growth companies from business fields like healthcare, manufacturing and digital solutions will join to Kasvun Roihu’s Grow to USA Fall 2018 internationalization program. The program will take these companies to New York 17th-21st of September where they will receive crucial know-how about US markets and have relevant business meetings which can help them in expanding their businesses to US. Ten selected companies are Adesante Oy, Congrid Oy, Fjuul Vision Oy, Graphic Concrete Oy, Mapita Oy, Nordic Fit mama Oy, Pehutec Oy, Trussmatic Oy, Wunderdog Oy and Yepzon Oy. Grow to USA Fall 2018 is made possible by the program partners: Crowe Horwath, Boardman Grow, Marsh, Consulate General of Finland in New York, Nasdaq Helsinki, Capteeni, Business Finland, San Francisco and Innovestor.

Application time for Grow to USA Fall 2018 –program started in the end of this March and continued till the end of April. After that program partners selected 30 companies with true commitment and potential to make US market entry to the orientation workshop which was organized in May in Helsinki. After the orientation workshop the program partners went through all companies applications and US market plans and selected eleven companies to the program. Capteeni’s President Simo J. Lahtinen tells that the companies’ received feedback from orientation workshop had naturally weight in selecting the companies but also companies’ desire and want to succeed in US markets played important role.

“In U.S. markets the attitude is 85% and the talent 15%. From Grow to USA journey I’m expecting success for those companies which are ready for it; have both financial resources as well as the energy to make it in U.S. In my opinion the main question in each attending company is who will do the extra work which is needed to conquer this huge and competitive market.”

Grow to USA Fall 2018 is Kasvun Roihu’s second go-to-market program which is targeted for companies interested in expanding their businesses to East Coast of USA. The first program took 10 companies to New York in January 2018 with encouraging results. The world’s largest professional service firm Marsh was partner already in this first program and the co-operation between Marsh and Kasvun Roihu continues also in this Grow to USA Fall 2018 -program.

“Marsh is proud to be able to partner with Kasvun Roihu and the Grow to USA program the second time. It is great to notice that again there are many innovative startups joining the program in their quest to go into the challenging US markets. The companies represent various very interesting and different industries and innovations, which provide good basis for entering new marketplace. Many companies have already studied the potential for the USA in respect of competition, partnerships, markets and naturally potential target client groups. With the help of growth experts and sponsors these companies are able to get very useful information to lay foundation of actually going to US; the experiences from the first program were very encouraging and we are excited to support the second group of companies this fall again!” Tuomo Kemppainen the CEO of Marsh Oy describes.

 

Towards 3.6. billion USD market potential

In addition to the September visit to New York City, three of the selected companies will get their logos displayed on Nasdaq’s video screen in New York Times Square during the fall of 2018. One of these companies is Graphic Concrete Ltd, who sells an innovative product that enables producing fantastic durable patterns and images on any precast concrete surface. Graphic Concrete has already started their US market conquest in 2017 by concluding a co-operation agreement with a group of precast companies called the AltusGroup. The Altus member factories already market graphic concrete to their clients and the first graphic concrete projects will be completed this summer.

“We were contacted from the US and decided to take a careful step and try whether this market could be suitable for us. With the help of a local contact we got a chance to present our product to the right people. They saw the product’s potential and the co-operation agreement with the American partner was signed in the summer of 2017. The pieces fell onto place very smoothly, partly because of a rare coincidence and little bit of luck”, says Kimmo Knaapila, Managing Director of Graphic Concrete.

The potential of the architectural concrete wall panel market in the US is approximately 3.6 billion USD. Compared to Finland’s 50 million USD, the potential of the US market is enormous. However, Graphic Concrete Ltd still needs to increase the demand of graphic concrete in the US, since customers tend to select more familiar basic products instead of a new special product, says Knaapila. The company expects help to conquer this challenge from the Grow to USA Fall 2018 program.

“Naturally we are hoping to get relevant contacts from the constructor, developer and investor –sectors. In addition to this we hope to receive some help regarding legislation, recruiting, and how to start our own production in the US. We are also looking forward to networking with other Finnish companies that have already established their businesses in this competitive market.

Additional information

Anna-Mari Blek, Kasvun Roihu Oy, Business Director – Grow to Market, tel. +358 40 757 6434,
anna-mari.blek@roihu.com

Simo J Lahtinen, Capteeni Oy, President, tel. +1 641.451.1906,  simo.lahtinen@capteeni.com

Tuomo Kemppainen, Marsh Oy, CEO, tel. +358 50 463 6164, tuomo.kemppainen@marsh.com

Kimmo Knaapila, Graphic Concrete Oy, Managing Director, tel. +358 40 747 7622, kimmo.knaapila@graphicconcrete.com