Eyal Bino, founder of Worldwide Investor Network (WIN), wants to transform NY into, “the Ellis Island of innovation.” According to Xconomy, WIN’s conference last Wednesday featured presentations of 10 startups from across the world. Bino started WIN last year to give global technology startups access to the tools and investment that Silicon Alley has to offer. However, Bino says that many of the international companies don’t know how to break into the U.S. market or how to approach U.S. investors.
WIN finds overseas companies at the seed stage of investment that have begun to generate revenue. These companies typically seek anywhere from $1 million to $5 million before expanding to the U.S. Additionally, all of the companies chosen are in the information technology sector because they usually require less infrastructure and starting costs.
WIN organizes these events to introduce international startups to U.S. investors. Each startup is charged $975 to attend. If funding is received WIN receives a 5% fee but no equity. WIN plans to create a $10 million fund to invest in startups directly. So far, the group has helped 50 startups present and is currently working with several NY partners.