Realizing the Potential for International Growth
Founded in 2001, Madison-based TrafficCast, Inc. provides technology and data analysis for real-time and predictive traffic information, and has initiatives in both the U.S. and China. Upon recognizing the diverging market needs and investor interests in the two countries in 2006, the company split into two separate entities: TrafficCast China and TrafficCast International, Inc (TCI).
TrafficCast China offers traffic operations implementation and management specifically in China, while TCI provides traveler information services and technologies in the U.S. and throughout the world. This split helped pave the way for TrafficCast’s international expansion, and with a strong foothold already established in China, offered the company a direct path to working collaboratively with key partners there. The company is now looking to pursue export opportunities in additional international markets.
Gaining Insights for New Markets
In further expanding its overseas presence, TrafficCast has looked to resources available through the Wisconsin Economic Development Corporation (WEDC). In the past, the company has benefited greatly from WEDC’s trade missions. During one particular trade mission to Asia, TrafficCast signed a key memorandum of understanding with partners in China, endorsing the company and building its reputation and credibility there. Dr. Connie Jing Li, TrafficCast’s chief operating officer, says WEDC has been a great resource in helping the company gain access to international markets. As TrafficCast explores expansion strategies for reaching Europe, Asia and South America, it will continue to work closely with WEDC to gain the necessary insights to effectively penetrate these new markets.