Last year, the FDA announced it would extend federal regulatory control to e-cigarettes. As part of the ruling, government approval of all e-cigarette products and related consumables introduced after 2007, such as e-liquid, is now required.
Is your company ready to go global with ecommerce? Maybe it should be. Opportunities to sell globally are substantial and growing. While ecommerce retail sales in the United States are rising — expected to reach $523 billion in the next five years — that number is growing even more rapidly worldwide.
Technology moves quickly and its impact can be far-reaching. A decade ago, how many of us could have predicted drones, self-driving cars, or even the iPhone? Regulation of new products and categories doesn’t move as fast.
For entrepreneurs and inventors, the beauty of an innovative new product or service seems obvious — especially when consumers embrace it enthusiastically.
But the reality of bringing an exciting product or service to market in a regulated industry means navigating an obstacle course of rules.
Since the FDA proposed regulations for e-cigarette products last year, the entire vapor industry has been holding its breath. If the rules go into effect as proposed, e-cigarette makers will have to submit applications for all products, even those on the market for the past eight years.
Failure has become a rite of passage for tech startups. If you’re a fan of HBO’s “Silicon Valley” you appreciated the episode where Gavin Belson, CEO of the fictitious Hooli, persuaded his board that the disastrous launch of his company’s compression platform was actually a good thing.
For ecommerce, 2014 was a year of milestones. Worldwide, sales hit a record high of $1.3 trillion. Alibaba claimed the title for largest global IPO ever. The overwhelming majority of U.S. shoppers are now buying products online. It was a good year.
Earlier this year, in the first quarter, VC spending hit its highest point since 2001, with $10 billion across 888 deals. Anand Sanwal, CEO and Co-Founder of venture capital database CB Insights, said it best when he called the landscape “frothy.”