Each year, hundreds of thousands of entrepreneurs try to turn an idea into a technology startup. Less than 1 percent reach the funding stage – and, in the US, only about 50,000 get early-stage or angel funding. Maybe 3,000 get VC funding.

Still, entrepreneurs think – and dream – big. It's what makes them entrepreneurs. For most, from conception to formation, they have their sights set on going global.

With Garage2Global as the theme, more than 200 entrepreneurs and venture capital executives gathered on the first day of the 2016 DLA Piper Global Technology Summit. During a panel entitled "Strategies for Successfully Scaling Internationally," a group of experienced venture capitalists, all of whom have scaled businesses globally, discussed lessons they learned going global. Led by moderator Jonathan Axelrad, a partner in DLA Piper's San Francisco office, the panelists were:

What advice would you provide to a startup venture looking to scale internationally?

Subotovsky: Proceed at a reasonable pace. Be a leader in your home market first. You've got limited capital and resources [so] don't stretch yourself. In [my first entrepreneurial endeavor], an enterprise software company, a strong sales team was essential – and it's essential for all enterprise software companies. Focus on building and scaling that first – and make sure you're developed and strong in the US first.

Ebinger: One of the best strategies for enterprise software companies is to follow your customers into global markets. Go where they want you to go. That's how you determine your international markets.

Lurie:  As someone who worked with Zynga internationally, becoming a billion-dollar business in four years, I'd say 'Nail it before you scale it!' Get your business, solution and sales team on solid ground in your primary market first before you look to widely scale.

What do you look for in international startups in which you invest?

Subotovsky: We want you to have made your mark, won your own market first before seeking to expand to the US. For international entrepreneurs and startups, we want to see local success, local investment and we want those local eyes and minds, to give us confidence in making an investment. 

Ebinger: When we invest in an overseas company, we look for a world-beating company. The solution or product has to have traits that suggest it will be a leader, not just another entrant, in the US market and globally.

What specific, initial challenges do startups face? Any advice for their first foray internationally?

Lurie: Setting up payments, enabling yourself to pay employees, and engineering/development, are usually the first things. A lot of startups automatically think they have to add development staff and operations in other countries quickly, but they need to think of the total cost of ownership as there are difficulties with infrastructure and other issues that raise the actual cost. It could cost you more time and money to expand development overseas. If you do it, make sure it's because it is giving you a distinct advantage. Developers and engineers are worth the investment. If you pay a little more for an engineer, it's not going to break the company. Developers, engineers – they provide a great return on investment.

Subotovsky: Look at everything, every decision to scale or expand globally, through the lens of 'does it keep our organization working together, will it get us a better product or solution, will it keep us fast and nimble.'