Tommaso D’Onofrio, has been Managing Director of Assiteca Crowd, one of the first platforms authorized by Consob on Equity Crowdfunding, then Italian representative at the European Commission within the specific technical table Ecsf (European Crowdfunding Stakeholder Forum), currently delegate to the coordination of the technical table of Confindustria Innovative and Technological Services on startups and current President of Atlas Association.
In an era of increasing globalization, Italian startups are looking to expand their operations beyond national borders. With a mission to support these companies as they face the challenges of internationalization, ATLAS, a member trade association of Confindustria Innovative and Technological Services, serves as a strategic ally. In this interview, President Tommaso D’Onofrio shares his vision and strategies for helping Italian startups thrive in the U.S. market.
Let’s start at the beginning. In an increasingly competitive and rapidly changing global environment, what are the main challenges that Italian startups face when preparing to enter the U.S. market, and how does ATLAS aim to address them?
Italian startups face a unique set of challenges when trying to enter the U.S. market. First, there are the cultural and regulatory barriers that can seem overwhelming. Each market has its own peculiarities, and it is crucial for an Italian company to understand local dynamics. ATLAS aims to act as a bridge, not only offering practical support to navigate bureaucratic complexities, but also to help understand the expectations and preferences of American consumers. Here, our network of contacts plays a crucial role: ATLAS offers access to investors, mentors and professionals who can provide valuable feedback and help refine the offering. Finally, there is the question of entrepreneurial mindset. Startups must be ready to learn from every mistake. With the right support and a resilient mindset, I am convinced that Italian startups can not only enter the market, but thrive in it.
However, there is a risk that some startups may use ATLAS as a “launch and exit” platform. How is it ensured that they are creating a long-term presence, and not just trying to approach a new market?
ATLAS is committed to guiding Italian startups on an internationalization journey that goes beyond entering the U.S. market. Our strategy is based on structured accompaniment, addressing regulatory and cultural challenges, such as those related to the Food and Drug Administration for food startups. We offer practical and educational support, helping companies overcome obstacles and generate business opportunities.
In addition, ATLAS fosters connections with financial and business partners, ensuring that startups have access to the resources they need to grow. Our established network, particularly in New York, enables strategic relationships that are critical to long-term sustainability. The ultimate goal is to ensure that each startup not only enters the market, but becomes a relevant and enduring player, able to adapt and thrive in the competitive U.S. environment. Assurance in this field is difficult to provide, but we at ATLAS are committed to guiding startups through an internationalization journey that is inherently complex. This journey begins not only with market entry, but requires overcoming numerous, sometimes regulatory, hurdles. Our mission is to support startups in creating opportunities and provide them with strategic access to financial and territorial partners. With a well-structured network, especially in New York City, we are able to assist startups in this complex growth process.
Speaking of the United States, are you concerned about the possible “Americanization” of startups, which could compromise their unique cultural or entrepreneurial identity during the internationalization process?
We are not concerned if we implement an approach based on a process of “cultural blending.” It is essential to preserve the tradition, Italian-ness and uniqueness of each project while addressing the needs of the American market. This strategy involves constant dialogue between startup founders and our experts to ensure that innovations and business practices remain authentic.
We work to help startups integrate elements of American culture that can increase their chances of success, without sacrificing what makes them unique. In this way, each company can take advantage of the opportunities offered by the U.S. market while maintaining its own identity. It is a complex balance, but one that is essential to successfully navigating the global entrepreneurial landscape.
Does ATLAS have a specific process to support startups that find it difficult to adapt to the U.S. market? If so, what exit strategies or pivot options do you recommend for these companies?
I first want to clarify that failure is not seen as a negative, but as a learning opportunity. Experiences of failure can provide crucial feedback for the future. For example, if we analyze the mortality rates of businesses in Boston compared to Naples, we would notice that mortality is higher in Boston. However, this is an apparent phenomenon: businesses are constantly reconverting to adapt to market needs. It is this culture of resilience and adaptation that we need to instill in our companies
ATLAS has developed a strategic approach to support startups facing difficulties in their journey to adapt to the U.S. market. We recognize that not all companies are ready for rapid growth and that, in some cases, it is critical to review and recalibrate their strategies.
We offer support to assess the specific challenges the startup is facing, facilitating critical thinking about business models, marketing strategies, and market positioning. Our goal is always to transform difficulties, creating an environment in which startups can recover, reconfigure, and ultimately thrive, even if the path is not linear.
Given the instability in the startup world, how does ATLAS measure return on investment for the companies it supports? Are there specific KPIs that determine success or failure?
Certainly. The first and most significant indicator of success for a startup is undoubtedly the team. This must consist of highly motivated members who are capable of dealing with the challenges and uncertainties of the market. Many aspiring entrepreneurs, unfortunately, do not fully understand the commitment and dedication required; starting a startup is not an activity to be done in one’s spare time, but a true vocation that requires unremitting work and passion.
In addition, intellectual property protection plays a crucial role. When an idea is good, there are bound to be attempts to copy it. For this reason, it is crucial to provide startups with the necessary strategies to protect their innovations. This includes not only the use of patents and designs, but also judicious management of the innovation itself, enabling them to anticipate market movements and respond quickly to consumer needs.
Investing in robust preparation in these areas not only defends the original idea, but also provides a significant competitive advantage, enabling startups to succeed in an increasingly complex and challenging business landscape. Thus, we not only protect the potential of Italian ideas, but also foster an innovation ecosystem that can grow and thrive over the long term.
The article Navigating the U.S. Market: Challenges and Opportunities for Italian Startups with ATLAS – Interview with President Tommaso D’Onofrio comes from TheNewyorkese.
