Regional vs. International: Build Locally First or Design for Global from Day One?

At the Worldef Dubai investment stage, organized by Oraseya Capital, the panel “Comparing Notes: Regional vs. International Expansion Playbook” centered on a fundamental founder dilemma: Should you first build a strong regional business — or design the company for international scale from the outset?

The discussion featured:

• Stefano Fallaha, CEO of Podeo (Moderator),

• Tarek Mounir, CEO of Enhance Fitness,

• Stephanie Nour Prince, Partner at Nuwa Capital,

• Said Murad, Managing Partner at Lunara Partners.

The discussion moved beyond abstract strategy and focused on the operational, infrastructure, and governance consequences of each path. Here are some notes after this panel.

Local foundation or global ambition?

One of the early points raised was that, historically, founders in many regions were focused on survival and local sustainability. Expanding “to the world” was not the primary objective, but a later opportunity.

In recent years, however, tools, technology, and access to infrastructure have given founders more confidence to think beyond their home markets — not only regionally, but internationally.

At the same time, two perspectives emerged:

• It is possible to build a strong company and scale across a few key markets without pursuing global expansion at any cost.

• There are also examples where local success becomes the launchpad for entering larger, more complex markets.

The case for “start with the hardest market”

One position articulated during the discussion was that if a company can crack the most difficult market, the rest becomes easier. An example was the decision to expand into Saudi Arabia instead of entering closer, more familiar markets first. The logic: a larger and more complex market forces a higher level of readiness. Once that level is achieved, expansion elsewhere becomes more straightforward.

A similar analogy was made with Spotify and Deezer: one company expanded gradually across smaller markets, while the other entered a major market first and then scaled outward.

But global expansion is not a declaration — it’s infrastructure

At the same time, participants emphasized that international expansion is often underestimated. A case was shared where software designed for local transaction volumes proved inadequate when the company entered the U.S. market. Increased scale required a full rebuild of infrastructure. There were few precedents to follow — progress came through trial and error.

This led back to the word repeated throughout the session: execution. International ambition alone does not guarantee success. What matters is:

• clarity on what exactly you are selling,

• a repeatable model,

• clear revenue structure,

• and the operational ability to deliver at scale in a new environment.

When expansion is a consequence, not a goal

In one case described, international expansion was not the original plan. The company began as a niche marketplace, then identified a deeper systemic problem, and later discovered that this problem existed globally. International expansion followed that realization — not the other way around. Global scale, in this context, was not an ambition in itself, but a logical outcome of solving a universal problem.

Investors, boards, and the discipline of scaling

Another major theme was investor and board management. Clear principles were articulated: no surprises at board meetings, challenges should be surfaced early, not hidden, investor communication is continuous, not episodic, founders should lead the strategic conversation rather than merely report. International expansion, in this framing, requires not only product and market readiness, but governance maturity.

Conclusion

The discussion ultimately converged around several recurring themes:

• Scaling is not simply entering a new market; it is a test of repeatability, clarity of value proposition, and execution capability.

• International expansion often breaks on infrastructure and operational complexity.

• Market entry strategies vary: some choose to tackle the most difficult market first; others build ecosystems in emerging markets.

• In the cases discussed, global growth emerged from identifying a universal problem — not from expansion for its own sake.

• Strong governance and disciplined investor communication are critical to sustainable scaling.

• And the central differentiator repeated throughout the session: execution.