Syntho's expansion to the US market
At the beginning of the year Syntho and other 11 Top tier startups have been selected for the ScaleNL program (running from April till July 2022) based on their innovative concept, team, and potential success in the US market. ScaleNL is an initiative of the Ministry of Economic Affairs and Climate Policy and aims to provide startups with unparalleled ecosystem support for scaling to the US market. The program focuses on bridging the gap of companies between their Dutch strategy and new roadmap catered specifically for success in the US. As a result, this program accelerated the expansion of Syntho activities in the US market for the upcoming period and ended with the US visit.
Learn more about the ScaleNL program here.
Awesome ScaleNL cohort and Team
Building the foundation for Syntho’s US market launch
As a part of our US expansion, Wim Kees Janssen (CEO of Syntho) visited 5 relevant locations: San Francisco, Silicon Valley, Los Angeles, New York and Washington to deep dive with the top tier investors, partners, colleagues and organizations that are interested in joining our mission to unlock (privacy) sensitive data to accelerate data-driven tech solutions.
- San Francisco (SF)
Our first stop was San Francisco. After some sightseeing, the kicked-off of the trip started at the Consulate General of The Netherlands where we were participating in various sessions with SF based entrepreneurs, advisors, and experts in the field of data, fundraising and US market entry. Later, we pitched for a panel of top tier VC’s and ended up with networking drinks.
Kick-off pitch at the Dutch consulate in San Francisco
- Silicon Valley (SV)
As being in California as an entrepreneur, a trip to the Silicon Valley was a must. We visited the Silicon Valley Bank that provided us with great insights around interesting financial instruments and startup funding in the US. There, we met tech-experts from Meta, Salesforce and Facebook together with other SV based entrepreneurs
Birthplace of Silicon Valley (where the company Hewlett-Packard (HP) was founded)
- Los Angeles (LA)
Next on this list was Los Angeles. After having a plenty of fruitful calls with the NBSO LA team, that supports entrepreneurs in their US ambition, we also had a great opportunity to meet them in person. After the introduction to the LA ecosystem and meeting local Dutchies, there was a time for ‘Mentor Madness’ at BioScienceLA, where we met various players in this field such as founders, investors, mentors, and entrepreneurs from the LA ecosystem.
Discussion around VC fundraising in the US
- New York (NY)
The time has come also for New York, where we started with a great session around legal and fiscal aspects, relevant for the US market entry. Also here, at the Consulate General of The Netherlands in New York, we met the NY team for the first time. After various meetings with fellow entrepreneurs, VC’s and key stakeholders, we headed to our final stop.
- Washington D.C.
Here we visited the SelectUSA Investment Summit, where we met investors and representatives from all the US states. We wrapped up the trip with a final pitch (yes, we pitched a lot 😉), while enjoying a great BBQ at the Embassy of The Netherlands.
Conclusion: let’s accelerate the digital revolution together!
As result, we strengthened our synthetic data generation proposition and built a strong foundation to keep on expanding to the US market. Now, we have access to the key advisors, the ecosystem and the market from which we will be able to further accelerate the adoption of synthetic data.
Syntho’s stand at the SelectUSA Investment Summit
Why the US?
Whereas there are strict data privacy regulations like the GDPR in Europe, data privacy regulations have started to become stricter in the US as well. According to Gartner: 65% of population will have data privacy regulations in 2023, up from 10% today and 30% of companies cite privacy as no. 1 barrier for AI implementation.
On top of that, we see that the US market comparing to the EU one is even more risk-oriented, driven by a severe lawsuits culture. This is possibly combined with an even stronger ambition to innovate and realize data-driven tech solutions are the key-ingredients for markets that could benefit from the value of synthetic data.
Final pitch of this US trip at the Dutch Embassy. Many will follow.
Why AI generated synthetic data?
We are in the middle of the digital revolution and data-driven tech solutions (such as AI, ML, BI, software etc.) are about to change the entire world. However, 50% of all data is locked by organizations (strict privacy regulations) and individuals (who decline and do not trust sharing data). This is a real challenge, as data-driven tech solutions are hungry for data and are only as good as the data that they can utilize.
Hence, Syntho is on a mission to unlock this data and to accelerate the adoption of data-hunger tech solutions with our self-service synthetic data generation platform that is now available with world-wide support.
Syntho Engine up and running in San Francisco
We are experts in Synthetic data, but don’t worry, our team is real and this is your great opportunity to join Syntho! Feel free to contact us or to learn more about us by downloading the Syntho Guide and one of our experts will get in touch with you at the speed of light!