A few weeks ago, BusinessForensics was selected to participate in the Cybersecurity Globaliser, a 12-week program designed by DutchBasecamp to support companies in their endeavor to expand internationally.
BusinessForensics published a great article describing the first sessions of the program. If you are interested in expanding your business in Europe, this piece will inspire you to take the first steps.
The participation of BusinessForensics was timely because it believes that now, more than ever, is a great time to help banks and insurance companies across Europe safeguard themselves against possible regulatory violations and subsequent fines.
To help prepare for the first session, each participating company was assigned a coach for periodic check-ins. In addition to the coach, we received access to the digital guide, the DutchBase Internationalization Canvas — an in-depth resource, written by the team at DutchBasecamp.
The objective of the 38-page guide was to help better capture a few key takeaways:
- Understand the steps needed to move into a new market
- Identify where we are on our current journey and plan next steps
- Learn how each phase of the process connects with the bigger picture
- Address specific pains to avoid missed opportunities
These key takeaways have a clear focus on aiding us in putting ourselves in the shoes of our potential end-users and future clients in other countries across the Eurozone.
the session seamlessly pivoted to the nuances that differentiate various countries from one another, including cultural and regulatory differences.
For example, if we want to use our solution to assist German banks with AML and CFT, we should likely know a thing or two about Germany’s Money Laundering Act, the Geldwäschegesetz (GwG).
Members from each company were able to share some of the similarities and differences they’d personally learned and experienced, and videos were played that contained helpful first-hand knowledge and information from CEO’s of Dutch companies who’ve successfully expanded internationally.
On June 4th the first real-life session of the 2020 Globaliser Cyber Security took place. At a safe distance of 1,5 meters from each other, all participants gathered at The Hague Security Delta for a jam-packed afternoon. The participants worked with DutchBasecamps’ market opportunity tool, in which they further explored their target markets’ characteristics and were provided with insights into the product market-fit of their cyber solutions in these markets. The second portion of the session was spent discussing international business cultures, which sparked a lively discussion on interesting experiences in among others Japan and the Unites States. The afternoon was finished off by some drinks and getting to know one another, after having spent quite some time talking to each other online.