In this second “deep dive” into the water industry, we once again explore challenges specific to this sector. Companies in any line of business, however, that must interact with municipal or other governmental agencies can benefit from the information below.
Companies that are rooted in the water industry have specific issues and concerns to address that businesses in other sectors do not. When these companies want to make their way into the U.S. market, those issues and concerns are magnified, due to several factors, including governmental regulations and red tape, lack of real-world testing locations, and a fractured market.
To be successful in the U.S., it is imperative to have proven example projects at scale. Your firm will need to convince a large government entity to take a chance on you. Without the right resources and team to open the right doors, this can be downright impossible. Set yourself up for success by ensuring you have the funds and team in place, and by partnering with people who have experience and connections in the U.S. market. Here are some tips to get you going:
- Strict regulation guidelines and longer timelines are the norm and should be expected. Companies should build in the resources needed to navigate these factors, whether that is bringing in additional funds or hiring more people. Make sure your project budgets account for these hurdles so you still make a healthy profit at the end of the day.
- Need more funds? The EPA offers several water research grants that can be invaluable to entrepreneurs in the water sector (as does other organizations). Grant writing, however, requires a good deal of time and experience. Having a designated grant writer on your team could make a big difference to your bottom line.
- When trying to cut through the proverbial red tape, it can be helpful to have someone on your team who is certified in the sector to lend more credibility to your endeavor. Having a Certified Water Technologist (CWT) indicates a high level of knowledge and expertise to those in positions of authority within the industry. This particular certification is bestowed by the Association of Water Technologies.
- To be successful in the long run, it is often necessary to make investments early on. As you explore your options within the U.S., consider working with consultants who have established connections at the municipal level. You might not be able to break through those governmental walls on your own, but your consultant might be perfectly positioned to make that introduction. Don’t shy away from such opportunities simply because they might increase your costs. Such connections could be lucrative in the end. Sometimes it really does take money to make money!
- Rely on your network. The engineers on your team have been focused on scaling your technology, but they should also be tapping into their connections as well. While they might have specialized in a particular area of engineering after school, their former classmates and colleagues most likely include consulting engineers – perhaps even some within the U.S. market. Being able to bounce ideas off a network of experts is invaluable as you take the next steps.
- Continue to build your network. In the U.S. many professionals connect via LinkedIn, so be sure to utilize that social media channel to its fullest potential! Create a company page and encourage your employees to be active on the network as well. Join groups related to the industry and try connecting with governmental officials as well. You can also build a content strategy that positions your company as industry thought leaders, which will also lend credence to your qualifications when bidding jobs.
Taking research from proof of concept to real-world testing is a challenge. Municipalities don’t (and can’t) take chances on technology that may not work. Testing products at scale is very challenging. Finding a way around these obstacles is imperative, and building your team, resources, and connections is the place to start.