Business Intelligence on the US Greentech Market

European Cleantech
Internationalisation Initiative
(EC2i)

Collection of US Business Intelligence

This project was funded by the European Union´s COSME Programme (2014-2020).

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Table of Contents

I.

Cleantech Key Areas for European SMEs .................................................................................... 3

II.

Smart City & Digitalisation........................................................................................................... 4

III.

Green Energy, Energy Efficiency & Smart Grids ...................................................................... 6

IV.

Waste Management & Recycling ............................................................................................ 8

V.

Resource Management (Water & Air & Soil-Management) ..................................................... 10

VI.

Market entry: Success factors and challenges for European Cleantech SME ....................... 14

This project was funded by the European Union´s COSME Programme (2014-2020).

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Cleantech Key Areas for European SMEs

The European Cleantech Internationalisation Initiative (EC2i) integrates the goals and strategies of
five leading European cleantech clusters with capabilities spanning value chains emerging at the
intersection of environmental technology and digitalization. The main objective of this initiative is
to implement a joint internationalisation strategy to help SMEs exploit the opportunities for
collaboration presented by the complementary capabilities of businesses in all five clusters and
capitalize on their world-leading technologies to tap into demand for smart and sustainable
solutions in the United States
Therefore, the following value-chain-based key areas have been defined according to the areas of
strength of the SMEs represented in the project consortium and according to current business
opportunities within environmental technologies and digitalisation:
a)
b)
c)
d)
e)

Smart City & Urban Technologies
Green Energy & Smart Grids
Waste Management & Recycling
Resource Management (Water, Air, Soil, etc.)
Digitalisation & Efficiency (as cross sectoral topics in the 4 defined focus areas above)

The aim was to generate a two-pager as a kind of DashBoard for each key area which can be send to
interested SMEs as a summary of the matchmaking mission to the US in May 2018.
Therefore, the following templates were filled out based on the input and feedback from strategic
partners in the target market (special thanks to Hodgson Russ LLP, Advantage Austria, Urban Future
Lab) in order to provide the participating SME with a summary of the latest market information and
potential business opportunities. The presented Business Intelligence make no claim to
completeness but are instead intended to give an overview of the current market developments. A
focus was put on New York (State and City), as the first Matchmaking Mission took place in
combination with the Smart City Expo NYC 2018 in May 2018.
In the following the results are presented for each Cleantech Key Area.

This project was funded by the European Union´s COSME Programme (2014-2020).

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Smart City & Digitalisation

The key area “Smart City & Digitalisation” is structured into the following value chain elements:
Equipment &
Infrastructure

Connectivity:
Data Collection
& Storage

System
application

Data Analytics

They include for example technologies in the field intelligent bicycle logistic, efficient lightning,
energy facades, mobility solutions, etc.

Key Findings
 There is increased interest in smart cities due to the convergence of information and
communications technology.
 The smart city investment rate in North America will increase from $118.5 billion in 2016 to
$244.5 billion in 2021.
 Policies and regulations to be considered are the NYC Open Data Plan, LinkNYC Initiative, ANSI
Network on Smart and Sustainable Cities (ANSSC)
 Business Opportunities for European SME in: IoT and urban technologies
 Strategic partners for market entry: Urban Future Lab, Grand Central Tech, New Lab, The Clean
Tech Center, Mayor’s Office of Technology and Innovation (MOTI)

Market Environment & Trends
There is increased interest in smart cities due to the
convergence of information and communications
technology, particularly when it comes to advanced
connectivity and analytics software and hardware. This
includes IoT sensors and analytics platforms to coordinate
information within departments and across city agencies.
Key findings from the Tech Republic report (2017) include:
 North America will continue to dominate the global
market for smart city technologies.
 Investment rate in North America will increase from
$118.5 billion in 2016 to $244.5 billion in 2021.
Technology ubiquity, advanced investment, and
organizational models in cities led by New York, Los
Angeles, and Chicago in the US and Toronto, Vancouver,
and Calgary in Canada will drive investment.

Market Volume (in US$)

Small

Medium

<5
bil.US$

5-20
bil.US$

Large
>20 bil.US$

Market growth

Weak

Medium

Strong

0-2%

3-6%

<6%

Market Participants
The Municipality of NYC
Under the leadership of the City's Chief Technology Officer, the Mayor’s Office of Technology and
Innovation (MOTI) spearheads the City of New York’s “Smart City, Equitable City” strategy for technology
and innovation. As part of this effort, MOTI works to better the lives of all New Yorkers and communities
across the five boroughs within the New York City’s “Smart” Initiatives, by:
 Establishing principles and strategic frameworks to guide connected device and Internet of Things
(IoT) implementation,

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 Serving as the coordinating entity for new technology and IoT deployments across all City agencies,
 Collaborating with academia and the private sector on innovative pilot projects, and
 Partnering with municipal governments and organizations around the world to share best practices
and leverage the impact of technological advancements.
In 2016, at the Global Smart City Awards, NYC was recognized as the best smart city and it has only
increased its efforts to become a leader in urban technology ever since.
New York has also created online platforms, such as Marketplace.nyc and UrbanTech NYC:
 Marketplace.nyc is a website that connects smart city companies and their products with the city
government.
 UrbanTech NYC supports entrepreneurs who are developing products and services that work to
make cities smarter, through programs, working spaces, partnerships, etc.
Legal Frameworks
Policies and regulations
As per the Local Law 11 of 2012, each City entity must identify and ultimately publish all of its digital
public data for citywide aggregation and publication by 2018. In adherence to this law, there exists a NYC
Open Data Plan which requires annual data updation.
The LinkNYC initiative, one of the key projects to make New York a ‘smart’ city, aims to connect everyone
through a city wide WiFi network. The LinkNYC initiative will retrofit payphones with kiosks to provide
high-speed WiFi hotspots and charging stations for increased connectivity. Data Privacy in the initiative
is addressed through the customer first privacy policy, which considers user’s privacy on priority and will
not sell any personal information or share with third parties for their own use. LinkNYC will use
anonymized, aggregate data to make the system more efficient and to develop insights to improve your
Link experience.
Adoption of International Standards
The ANSI Network on Smart and Sustainable Cities (ANSSC) is a forum for information sharing and
coordination on voluntary standards, conformity assessment and related activities for smart and
sustainable cities in the US. The US is a signatory of the ISO/ITU defined standards on smart cities.
(Source)
Business Opportunities for European SME
 Urban technologies
 Big Data, Machine Learning (AI), IoT Networking, Power Network Control & Energy Monitoring
 Cyber Security Protection
 Blockchain - energy trading beyond state borders
Strategic Partners & Contact Points for market entry
 Urban Future Lab : New York City’s hub for smart cities, clean energy, and smart grid technology.
 Grand Central Tech: Now consisting of four programs across 100,000 square feet of space, GCT is
NYC's largest single dedicated platform for growing premier ventures from seed to scale.
 New Lab: New Lab uniquely supports entrepreneurs working in advanced technology—in
disciplines including robotics, AI, connected devices, nanotechnology, urban tech, and more.
 The Clean Tech Center: The Clean Tech Center offers support for entrepreneurs and early stage
companies through incubation, acceleration and retention. The program provides world-class
hands-on support for entrepreneurs.

This project was funded by the European Union´s COSME Programme (2014-2020).

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Green Energy, Energy Efficiency & Smart Grids

The key area “Green Energy & Smart Grids” is structured into the following value chain elements:
Production

Storage

Distribution

Utilization

Digitalisation
& Efficiency

They include for example technologies in the field smart energy solutions, renewable energy from
hydro power, solar, biomass and biofuels, etc.

Key Findings
 Main drivers remain strong for new onshore wind and solar capacities
 Besides troubling sign of a not working well early-stage financing system, cleantech
opportunities remain strong
 Business Opportunities for European SME in: Energy storage systems & micro grids, E-Cars &
Plug-in Hybrid, IoT & Big Data, Blockchain, CO2 sequestration
 Strategic partners for market entry: NYC Mayor´s office of sustainability, Green Home NYC,
BPC Green Builders, Hodgons Russ, 151 Adivsors

Market Environment & Trends
Despite policy uncertainty, the United States remains the second-largest growth market for
renewables, according to the International Energy Agency Report “Renewables 2017”. The main
drivers remain strong for new onshore wind and
solar capacities, such as multi-year federal tax
0,5%
Geothermal
1%
incentives combined with renewable portfolio
1,5%
Solar
standards as well as state-level policies for
7%
Biomass
distributed solar PV.
Ethanol and biodiesel production also expands as a
Wind
5%
result of supportive policy frameworks.
Hydroprower
Despite the United States being the third-largest
electric car market, renewable consumption is
15% d. total energy production
relatively lower than China and Europe because of
is renewable energy (Austrian Chamber of
the less prominent role of renewables in its
Commerce (2017)
electricity supply.
Market trends*
 The US Energy Information Administration expects wind generation capacity to increase by
almost 16% in 2018 to 102GW, accounting for 9% of electric installed capacity in the US.
 The US solar PV market will be the 2nd fastest growing market with 49GW of projects either
under construction or development.
 The US hydropower industry could be set for a mini-boom in 2018 thanks to a billed approved
this month by the House of Representatives that both defines hydro as a renewable energy
source and streamlines the way projects are licensed.
 Protecting power infrastructure from hackers will remain a priority in 2018 following highprofile cyber attacks in the Ukraine, the US and Ireland, with new-generation smart grids still
vulnerable.
 In Puerto Rico, Texas and Florida, reconstruction of power infrastructure devastated by
hurricanes Maria, Harvey and Irma will continue. Technologies such as solar and battery

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storage systems and microgrids are being used to make the grids more resilient, but federal
funding plans remain unclear. (Source)
*Power Technology (2018)

Market Participants
 ConEdison: Energy producer and supplier
 Smarter Grid Solutions: Advisor for and supplier of smart grid solutions
 National Grid: Energy supplier

Legal Frameworks
The current uncertainty over proposed federal tax reforms, international trade, and energy policies
could have implications for the relative economics of renewables in the US market and alter their
expansion over the forecast period (IEA 2017).
There are some troubling signs: Cleantech patenting has slowed down, and there are indications
that the early-stage financing system critical to helping innovative new energy companies grow is
not working well. Yet, Cleantech Opportunities remain strong (Hodgons Russ, 05/2018):
− States continue to be the primary driver of public spending and requirements for cleaner power
generation, transport, and industrial activity
− New York just announced an additional $36.5 Million in Investments aimed solely at energy
efficiency gains
− Cleantech is an essential part of the State’s goal of 50% renewable power by 2030

Business Opportunities for European SME*








Energy storage systems for PV and wind turbines
E-Cars, Buses & Plug-in Hybrid
Big Data, Machine Learning (AI), IoT Networking, Power Network Control & Energy Monitoring
Critical Infrastructure & Cyber Security Protection
Technologies of CO2 sequestration in development
Blockchain - energy trading beyond state borders
Microgrids require advanced software, meters, DER elements, sensors, and communication
technology (Hodgons Russ, 05/2018)

* Austrian Chamber of Commerce (2017)

Strategic Partners & Contact Points for market entry
BPC Green Builders
One of the first green home builders and green home renovation in Connecticut.
Green home NYC
GreenHomeNYC’s mission is to promote an energy efficient and sustainable built environment and
to support green professional development in New York City.
NYC Mayor´s office of sustainability
The city´s efforts to lower the emissions from the building sector are outlined in the initiative One
City: Built to Last: The City's plan to reduce buildings-based emissions by 30% by 2025 from a 2005
baseline. This pathway will be aligned with efforts to reduce emissions from other sectors, including
energy supply, transportation, and solid waste.
Consultants supporting the consortium: Hodgson Russ, 151 Advisors

This project was funded by the European Union´s COSME Programme (2014-2020).

Date : 30/05/2018

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Waste Management & Recycling

The key area “Waste Management & Recycling” is structured into the following value chain elements:
Collection &
Logistics

Waste
treatment &
Sorting

Waste to
material

Waste to
energy

Digitalisation
& Efficiency

They include for example technologies in the field new sorting solutions for future waste, new solutions
for rare earth metal recovery and battery recycling, digital waste management, etc.

Key Findings
 The USA is considered the world's largest waste producer
 Legal requirements are set by local authorities: Due to the strict environmental laws it is hard
for smaller companies to keep up with the necessary investments
 Business Opportunities: Bioreactors, trash compactors, landfill gas utilization, innovations in the
field of logistics, separation technologies and secondary raw material production
 Strategic partners for market entry: Associations for waste and recycling, Hodgons Russ, 151
Advisors

Market Environment & Trends
The USA is considered the world's largest waste producer. According to the OECD, every US citizen
produces an average of 725 kg of waste per year. Every year about 258 million tons of waste are
generated and the recycling rate has been around 35% for years.
Landfilling and landfill gas utilization
Although the number of landfills decreased from 8,000 in 1988 to 2,000 in 2016, the average size of
landfills since 1991 has tripled to 3.5 million tonnes - however, since 1990 the amount of landfilled
waste has increased by more than 11 million tonnes, 135 million tonnes dropped.
In the US techniques that can convert landfill waste or landfill gas into energy are in greater demand.
Low natural gas prices are currently hampering the necessary high investments in landfill gas
conversion plants.
Waste sorting and separation technologies
In households, the waste is usually thrown away without prior separation and only mechanically
separated in recycling plants (single stream recycling).
About 8% of the waste is recovered in waste incineration plants and converted into energy. Of the
currently active incinerators, 59 produce electricity, 3 plants generate heat without additional
electricity and 15 waste incinerators are used for the combined generation of heat and electricity
In terms of sustainability, there is a trend towards zero-waste through recycling, composting and
fuel supply.
Source: Austrian Chamber of Commerce (2017)

Market Participants
There are approximately 20,000 companies on the waste market, with 70% of the waste being
disposed of by private waste disposal companies. Selected examples are:
 Waste Management Inc. (2016: 13,6 Mrd. USD sales)
 Republic Services (2016: 9,39 Mrd. USD sales)

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 Stericycle, Inc. (2016: 3,56 Mrd. USD sales)
Bigbelly – Smart solutions for cities: The BigBelly is a smart trash can that is being deployed
throughout NYC. It is equipped with a wireless sensor that monitors trash level, allowing pick-up
trips to be scheduled more efficiently.
Royal waste: Serving New York City and the Tri-State area for over 20 years, Royal Waste provides
unparalleled services in recycling, dumpster rentals and waste removal to business and residential
homeowners.

Legal Frameworks
Requirements for recycling and landfill management are set by local authorities, which limits the
federal government's influence on the US waste and recycling market. This means that the
individual federal states will continue to generate the necessary demand in the industry in the
future.
Many cities such as Chicago has committed itself to achieving the Kyoto targets and wants to reduce
its environmental impact. Due to the strict environmental laws it is hard for smaller companies to
keep up with the necessary investments. The big ones want to get bigger and bigger and distribute
the high fixed costs on a broader basis.
E-waste
In New York - one of the 25 states that passed e-waste recycling laws - since 2011, producers have
not only had to take back electronic waste, but also recycle some of it (depending on market share).
In California, consumers must pay an e-waste fee when they buy an electronic equipment.
Biomass program
According to the U.S. Pat. Department of Energy (DOE) 9 billion gallons (= 34 billion litres) of
renewable fuels are generated each year by utilizing biomass from landfill waste. Therefore, DOE
promotes research and development of conversion technologies that transform non-food biomass
feedstock into advanced biofuels. A central instrument is the "Biomass Program". Numerous states
support extensive projects.

Business Opportunities for European SME







Bioreactors
Trash compactors
Landfill gas utilization plants (methane gas plants)
Innovative Weighing Systems & GPS Instruments for Waste Collection & Disposal
Innovative separation technologies & recycling plants
Innovative applications for recycled materials, e.g. Recycling glass

Strategic Partners & Contact Points for market entry
Associations for waste and recycling
 Environmental Technology Council (ETC) www.etc.org
 Environmental Industry Associations (EIA) www.envasns.org
 Solid Waste Association of North America (SWANA) www.swana.org
 National Center for Electronics Recycling www.electronicsrecycling.org
 National Solid Wastes Management Association (NSWMA) www.nswma.org
 Institute of Scrap Recycling Industries (ISRI) www.isri.org
 National Waste & Recycling Association https://wasterecycling.org

This project was funded by the European Union´s COSME Programme (2014-2020).

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Resource Management (Water & Air & Soil-Management)

The key area “Resource Management (Water&Air&Soil-Management)” is structured into the following
value chain elements
Raw-MeterialsProviders

Infrastructure:
Distribution, supply,
collection

Purification &
Treatmend:
Hardware
Assembles /
Manufactures

End-user:
Utilities & Large
Scale Industries

Digitalisation &
Efficiency

They include for example technologies in the field of water management and efficiency, air
purification, soil remediation, etc.

Key Findings
Water and waste water
 The wastewater treatment sector is a growth field of the US economy.
 Business Opportunities: Expansion and modernization of wastewater treatment plants in the US
open up business opportunities for planning and engineering offices, operating companies and
technology suppliers
 Strategic partners for market entry: Associations for water and wastewater, Waterfront
Alliance, Hodgons Russ, 151 Adivsors

Market Environment & Trends
Water and waste water
The water sector offers many opportunities for European
companies with an annual growth rate of 4% to 6% and
beneficial investments of up to USD 141 billion.
Most of the water pipes, sewage treatment plants and
sewers are outdated and defective - according to the EPA,
there are approximately 240,000 water pipe bursting per
day. Every day approximately 6 billion gallons (26.5 billion
liters) of drinking water seep through porous pipes
throughout the US. This corresponds to 14 to 18% of the total
daily water consumption.

Market Volume (in US$)

Small

Medium

<5
bil.US$

5-20
bil.US$

Large
>20 bil.US$

Market growth

By 2020, 9% of the water pipes will have exceeded the usual
lifetime and 23% will be in an inadequate state.

Weak

Medium

Strong

0-2%

3-6%

<6%

Market segments with above-average growth potential:
 water recycling and reuse, and seawater desalination (mainly in California, with 15 to 17 plants
planned and individual areas in Florida)
 Construction of new industrial wastewater facilities near drilling fields: In the course of the
natural gas production boom, many treatment plants are technically unable to treat the
wastewater used for fracking in accordance with federal requirements
 Increasing integration of water and power generation industries
The Water Infrastructure Financing Act provides federal states with particular incentives to
promote green water management projects, such as green roofs, wetland development as a

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rainwater catchment, construction of water-permeable roads, and measures to improve the use of
drinking water.

Market Participants
Examples of largest private companies in the field of water supply:
 American Water Works Inc., which has over 15 million customers, annual sales about 3.3 billion
USD
 United Water, Inc. owned by Suez Lyonnaise Des Eaux (7.4 million clients, $ 1.1 billion)
 Aqua America Inc. (3 million customers, $ 0.819 billion)
Tower Water is a full service water treatment provider for the Metro New York City Area.

Legal Frameworks
Water and waste water
The EPA budget has been cut from US $ 10.3 billion in 2010 to US $ 8.6 billion in 2016 due to high
US debt levels. Further reductions in both funds and personnel are foreseeable under President
Trump. For 2018, the budget of the EPA is therefore only about US $ 5.6 billion.
Nonetheless, good business opportunities continue to exist for the US environmental technology
market, as many states will continue to generate continued growth in key submarkets in the
industry. Since the sewage treatment plants are 90% owned by the public sector, there is an
obligation to tender for these projects.
Supplying the nation with clean water was a demand in current President Trump's election
campaign. As a result, this area is likely to become part of the planned US infrastructure offensive.

Business Opportunities for European SME
Water and waste water
 Line renovation systems, HDPE pipes
 Pumps, fittings, plastic pipes and other infrastructure remediation components
 Water recycling technologies, water treatment systems such as microfiltration, ultrafiltration,
reverse osmosis, desalination technologies and equipment
 Measuring and analyzing devices that show small cracks and pressure problems in pipes
 Innovative membrane technologies
 Biological wastewater treatment
 Water disinfection technologies as an alternative to chlorine (e.g., UV, ozone, peracetic acid,
bromine, ferrate)
 Solutions for reducing water consumption
 The banning of drinking water bottles gives opportunity for individual water treatment for
households

Strategic Partners & Contact Points for market entry
Trade associations for water and wastewater*
 American Water Works Association (AWWA) www.awwa.org
 Clean Water Network www.clean-water-network.org
 Inter-American Water Resources Network www.iwrn.org
 International Water Association www.iwa-network.org
 Water Environment Federation (WEF) www.wef.org
 Water & Wastewater Equipment Manufacturer Assoc. (WWEMA) www.wwema.org
 Water Quality Association www.wqa.org
*Source: Austrian Chamber of Commerce (2017))

This project was funded by the European Union´s COSME Programme (2014-2020).

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Waterfront Alliance: represents a coalition of more than 1,000 organizations working together on
the region’s waterways and 700 miles of shoreline. They organize the annual Waterfront conference

Key Findings
Air pollution control
 The US air pollution control market is currently uncertain. Still, it shows an anticipated growth
of up to 9% per year until 2019.
 Business Opportunities: Air pollution measuring instruments, industrial air pollution control,
Systems for room air control, Consulting and planning services for "clean production2
 Strategic partners for market entry: Associations for air pollution control, Hodgons Russ, 151
Adivsors

Market Environment & Trends
Air pollution control
The volume of the air pollution control market is almost US $
20 billion. With an anticipated growth of up to 9% per year
until 2019, the area offers many opportunities for European
companies. Particularly noteworthy are exhaust filters for
vehicles and factories, which make up the 90% share of the
most important sectors.
Still, the air pollution control market is currently uncertain.
Since this is a regulatory market and few new laws and
regulations have been adopted, there has been little
investment since 2010.

Market Volume (in US$)

Small

Medium

<5
bil.US$

5-20
bil.US$

Large
>20 bil.US$

Market growth

In the long term, the aim is to reduce CO2 emissions. This
should benefit supplies of modern natural gas power plants
as well as energy efficiency and renewable energy
equipment. Providers of CO2-saving technologies could thus
hope for growing marketing opportunities in this environment.

Weak

Medium

Strong

0-2%

3-6%

<6%

Trends:
 Vehicle emission controls
 Industrial air pollution control
 Emissions trading
 Heat recovery through the smoke produced in chimneys
Source: Austrian Chamber of Commerce (2017)

Legal Frameworks
Air pollution control
On June 2nd, 2014, the EPA presented the Clean Power Plan. According to this, greenhouse gas
emissions are to be reduced by 30% by 2030 compared to 2005. The individual states are free to
decide how they want to achieve the given greenhouse gas savings. However, President Trump and

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Pruitt are critical of the Clean Power Plan, which makes the actual entry into force of the Clean
Power Plan unlikely.
In the motor vehicle sector, there are parallel regulations for fuel consumption (CAFE standards)
and for reducing CO2 emissions (Greenhouse Gas Standards) in the USA.
Source: Austrian Chamber of Commerce (2017)

Business Opportunities for European SME
Air pollution control
 Air pollution measuring instruments (in particular for mobile emissions controls)
 Clean Technologies
 Consulting and planning services for "clean production"
 Industrial air pollution control: particulate filters, desulphurisation plants, technologies to
reduce mercury emissions from coal-fired power stations
 Systems for room air control
 Waste heat boiler for fireplaces for heat recovery
Source: Austrian Chamber of Commerce (2017)

Strategic Partners & Contact Points for market entry
Air pollution control associations*
 Air & Waste Management Association www.awma.org
 Institute of Clean Air Companies (ICAC) www.icac.com
 South Coast Air Quality Management District www.aqmd.gov
 NACAA - The National Association of Clean Air Agencies www.4cleanair.org
 IUAPPA - The International Union of Air Pollution Prevention and Environmental Protection
Associations www.iuappa.org
*Source: Austrian Chamber of Commerce (2017)

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Market entry: Success factors and challenges for European
Cleantech SME

Success factors and challenges for European Cleantech SME in the US market
 Take time for a detailed competitive analysis
 Make a market segmentation
 Adapt your advertising materials / advertising appearance
▪ English-language, clear and detailed sales documents and homepage
▪ US units are a must
 Customize your product according to US requirements
 Make personal contacts, e.g. at trade fairs, trade congresses, etc.
▪ A certain budget has to be calculated for trade fair appearances and entries in trade
journals.
▪ Price quotations are expected in US $, in EUR supplier bear the value date risk.
 Ask specialists for support
 Local presence and willingness to invest
▪ For a successful market entry, it is usually necessary to find a local partner (e.g. a planning
office for consulting and planning services or a partner for the production of systems)
▪ For some industrial products such as measuring instruments, filter systems, pumps, etc., it
makes sense to start the market by means of a sales representative in the United States.
The latter are interested in European know-how, especially in the context of the current
stricter legislation.
 Understanding consumer demands (Source: Urban Future Lab)
▪ The business culture in the US is different from what we are used to conduct business in
Europe. American companies are less likely to have an open call for a project regarding a
challenge they face, but they are still eager to meet with companies if it matches their
needs.
 The cost intensive first phase of the US market entry takes 2-3 years
Source: Austrian Chamber of Commerce (2017)

This project was funded by the European Union´s COSME Programme (2014-2020).