European companies are great at creating new sustainable technologies, products, and ideas. However, the market is not large enough to support a massive expansion or adoption of a product to reach critical mass. This is one of the reasons why 84% of European companies fail within the first two years of seeking access to the massive US market. Other reasons include a lack of funding and the know-how, as well as immigration and tax issues.
The fact is that US expansion for Europe offers lots of opportunities for everyone involved. The United States has much a larger homogeneous market to sell to and offers a good investment climate with money available for companies. There are also grants and other funding resources available. In a nutshell, the US is a favorable tax and business climate.
Additionally, the US market is eager for new ideas in sustainability. They love hearing about new innovative products. And sustainability is important to US adults – 75% of consumers take corporate sustainability responsibility (CSR) into account when making purchases. This is particularly true for millennials.
SPGX looks for innovative, young European companies with a proven product, strong IP portfolio, and experienced management with a focus on solving megatrends in sustainability. It’s a win-win for everyone involved—most importantly, for US consumers.