APPLYING FOR GRANTS
I think I want to apply for outside funding ‌ now what? This portion of the seminar is designed to help you:
Decide if applying for a World Trade Center (WTC) Utah grant is right for your business.
Determine how the grant will help with your international expansion strategy.
Understand what WTC Utah is looking for in a grant application.
WTC Utah Grants WTC Utah works to assist Utah companies expand their business internationally through a variety of services and programs, including two grants that provide financial assistance to small to medium-sized businesses looking to sell their products internationally. â—‹
Utah Export Acceleration Grant (EAG)
â—‹
State Trade & Expansion Grant (STEP) Grant
More information: http://wtcutah.com/grants/
Utah EAG A competitive grant made possible through a generous contribution by JPMorgan Chase & Co. to help small to medium-sized Utah businesses advance their international business goals. Grant Funds
â—?Travel: Governor-led trade missions, trade show participation, export lead trips, and U.S. Commercial Service (i.e. Gold Key Services). â—?Services: Legal, translation, international product certifications, website translation, packaging and labeling, transportation/logistics consulting and research services. â—?Education/Training: Tuition and material costs for international business programs such as Salt Lake Community College's Global Business Management Certificate or other educational and training programs.
Utah EAG Annual Pitch Competition ● Breakout Session at WTC Utah’s Global Forum - November 8, 2018 ● Applications will be accepted October 1-31, 2018. ○ ○
Businesses will submit a 2 minute video-pitch on how the additional funds will help their business expand internationally. Six finalists will be invited to compete.
● First place = $10,000, Second place = $7,500, Third place = $2,500
STEP Grant A competitive grant funded in part through a grant with the U.S. Small Business Administration to help Utah businesses enter and expand into dynamic global markets. Grant Funds
● State-led Trade Shows ● Governor-led Trade Missions ● Financial Assistance
Timeline
12 + months
9 to 12 months
Set Your Strategy
Set Specific Objectives
-Identify international activities, create budget, and forecast return on investment.
-Create or revise export plan.
6 to 9 months
3 to 6 months
1 to 3 months
Follow-up
Execute Your International Strategy
Work on International Activity
Finalize International Activity
Follow-up to International Activity
-Plan, prepare, and submit grant application.
-Make travel arrangements, confirm meetings, shipments, staffing, etc.
-Ensure all preactivity requirements are complete.
-Analyze leads/contacts and changes moving forward.
STEP 4
STEP 1
Decision and Follow-up Grant Process
STEP 3 Grant Submission
Plan and Prepare Grant Application
STEP 2 Write Grant Application
Step 1: Plan and Prepare Grant Application ● ● ● ● ●
develop a specific, meaningful, actionable plan for what the business wants to do and why the business wants to do it; consider how your plan will achieve positive results; review the grant eligibility criteria; examine sample applications from your business, peers or others; and research and understand the international activity.
Step 2: Grant Application
Getting to know your business ... Basic Information
Business Information
Export Plan and Economic Impact
Product and Services Information
Trade Event In Country Contacts and Representation ● International Activity ○ Trade Events ■ State-led Trade Show ■ Governor-led Trade Mission ■ Financial Assistance ●
● ● ●
Independent trade show or export lead trip Services Education
Budget Itemization ● Required Metrics ●
Additional Items ● Required Federal Forms ● Feedback
Mistakes to Avoid ● ● ● ● ● ● ● ● ● ●
The request doesn’t match the grant objectives. Missing or incomplete answers. The request is not well defined, documented, or understandable. The objectives are not specific or measurable. Staff experience and responsibilities are not explained. Use of jargon, abbreviations, and/or buzzwords. There is a lack of detail. Don’t assume we know the information. The budget is not substantiated by the narrative and/or not explained. The so what questions are not addressed. The application is not clear.
Don’t
Do
Assume your business meets the eligibility requirements.
Read the eligibility requirements and contact WTC Utah with questions.
Leave the reviewer wondering what your business does.
Provide a well-written overview in the Brief Business Description. Be proud to sell it to us.
Provide one word answers or put N/A. Example: Please describe any competitive advantages of your products in potential markets? It’s the best in the industry.
Provide detail and tell the why. Example: Please describe any competitive advantages of your products in potential markets? Business X products have been recognized as the best in the industry because of our design, quality, and technology. More specifically, ...
Put down broad statements. Example: Please describe your company’s international business goals and objectives within the next year. To increase export sales.
Provide numbers and data. Example: Please describe your company’s international business goals and objectives within the next year. To increase export sales from $1 million to $2 million and increase our international staff from one to five people.
Don’t
Do
Provide vague answers for your international activity. Germany
Provide a descriptive explanation of your international activity and how the international activity will help the business. Business X would like to attend the OutDoor Germany Trade Show in Germany because we have contacts, meetings set up to meet with distributors, and our product does well this market.
Provide a lump sum for the budget itemization. Budget Itemization Total Amount Requested: $15,000
Break out your budget and provide detail with the costs. Budget Itemization Airfare - $2,000 (two people) Ground Transportation - $500 ……………. …………….
Be lazy.
Plan, review, be accurate, and reach out to WTC Utah staff with questions or concerns.
Steps 3 & 4: Grant Submission, Decision, and Follow-up ● ● ● ●
Confirmation Rolling Basis 3 - 4 weeks Feedback and suggestions
Ten Takeaways 1. Pay attention to WTC Utah’s mission and grant objectives 2. Read, understand, and ask questions regarding eligibility requirements 3. Have a plan 4. Use resources 5. Write a carefully customized application 6. More detail is better 7. Data is key 8. Proofread 9. Engagement matters. Don’t give up! Keep on writing! 10.We are here to help! We want your business to be successful and support your business in meeting its international goals.
Resources for Writing a Competitive Grant Application Jim Porter
Key to success:
develop a specific, meaningful, actionable plan for what the business wants to do and why the business wants to do it
What is this question really asking? ● Do you understand the benefits of exporting? ● Why not pursue domestic sales? ● What resources you might need to develop to be successful?
Resources World Trade Center Utah U.S. Commercial Service Your local SBDC
What is this question really asking? ● Do you know trends for your industry in these markets? ● Who are your competitors? ● Why will consumers buy your product over direct competitors or substitutes? ● If your product has no competition, why will consumers in that market adopt it?
Resources World Trade Center Utah U.S. Commercial Service Your Industry Association Research Services (i.e. Euromonitor)
What is this question really asking? • Do you have the resources to meet the demands of exporting in terms of: - Dedicated decision-makers - Cash flow - Personnel time - Production Capacity You are not willing to make any adjustment to win business overseas! Are you willing to make the adjustments you need to be successful?
Resources: Utah Manufacturing Extension Partnership SBDC Network Small Business Administration ExIm Bank Local Banks The Department of Workforce Services
What is question this really asking? ● ● ● ●
How aggressively are you pursuing exporting? What needs to be accomplished this year in order to meet that goal? Why is this activity the right way to pursue your goal? How will you take advantage of this activity?
Resources World Trade Center Utah U.S. Commercial Service Event Organizers Prior Attendees
Talk to us first!
Trade Missions and Trade Shows Meg Garfield
What is a trade mission?
Mexico, 2018
Why participate in a trade mission? Trade missions provide: ● Face-to-face interaction with potential agents, distributors, joint venture partners, licensees, relevant businesses and government contacts. ● Seminars on local business practices with participation by experts in the region or market. ● Relevant company visits and tours of facilities from leaders in the target industries. ● Foreign direct investment events which provide interaction with potential investors. ● High level VIP networking opportunities.
Track #1
Track #2
Track #3
B2B matchmaking (Gold Key Service) and individual business meetings
Company site visits & tours
Government meetings
Apollo Dx/Cibus Dx, Singapore & Vietnam, 2017
GlobalSim, Israel & Jordan, 2017
What is a trade show? London DSEI Defense & Security Show 2017
Arab Health Dubai, 2018 ● “It was a fantastic opportunity! Since returning home from the show, we
have experienced growth and are in the process of acquiring more employees and equipment.” - Daylon Reusch, Vitalpax
● “Attending Arab Health opened our eyes to the possibilities available
internationally. We made contact with several international companies with whom we are currently discussing potential work. It was a unique and ideal conference for us to attend since we do a lot of work in the medical eld with localization, transcreation and general translation. We are excited for the upcoming possibilities!” -Lelani Craig, Commgap
International State-led Trade Shows: 1)
MEDICA Trade Fair Location: Düsseldorf, Germany Trade Show Dates: November 12-15, 2018
4)
BIO KOREA 2019 International Convention Location: Seoul, South Korea Trade Show Dates: May 9-11, 2019
2)
ISPO Munich Location: Munich, Germany Trade Show Dates: February 3-6, 2019
5)
DSEI 2019 Location: London, UK Trade Show Dates: September 10-13, 2019
3)
JEC World 2019 Location: Paris, France Trade Show Dates: March 12-14, 2019
Governor-led International Trade Missions: 1)
Governor-led Trade Mission Location: Japan/Hong Kong Trade Show Dates: September 16-20
2)
Governor-led Trade Mission and Paris Air Show Location: Europe Trade Show Dates: June 17-23
The World is Open for Your Business. Let the U.S. Commercial Service connect you to a world of opportunity.
Let Us Help You Export. With offices throughout the United States and in U.S. Embassies and consulates in nearly 80 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration utilizes its global network of trade professionals to connect U.S. companies with international buyers worldwide.
Our mission: Ø To promote the export of goods & services from the United States, particularly by small- and medium-sized businesses Ø To advance and protect U.S. commercial interests overseas Ø To attract inward investment into the United States
Our network: Ø Over 80 countries and 100 U.S. locations
U.S. Commercial Service’s Market Development Programs & Commercial Advocacy.
Whether you are looking to make your first export sale or expand to additional international markets, we have the expertise you need to tap into lucrative opportunities and increase your bottom line. §
Trade Counseling. Get the information and advice you need to succeed.
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Market Intelligence. Target the best trade opportunities.
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Business Matchmaking. Connect with the right partners and prospects.
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Commercial Diplomacy. Ensure your products and services have the best possible prospects for success in international markets.
Overview of Services - Free Counseling: • • • • • • • • • • • •
Understanding the Export Process Identifying Schedule B/HTS Numbers Export Documentation & Regulations Temporary Imports (ATA Carnet) Foreign Tariffs & Taxes Identifying Top Foreign Markets Finding Agents, Distributors, Reps, Buyers Leveraging Trade Shows and Events International Marketing Strategies Export Finance Resources Insurance and Risk Mitigation Strategies Avoiding Scams and Suspicious Buyers
• • • • • • • • • • • •
Intellectual Property Protection Vetting/Due Diligence on Foreign Parties Inco-terms and How to Get Paid International Shipping & Logistics Certificates of Origin (NAFTA, Israel, etc.) Foreign Standards, Certification & Import Requirements Export Controls Customs Clearance Issues Overcoming Trade Barriers and Obstacles Identifying International Procurement Opportunities U.S. Gov. Advocacy in Foreign Government Tenders Leveraging Trade Agreements & Free Trade Zones
Market Intelligence ยง
Market Research answers questions about an overseas market including market trends and size, customary distribution and promotion practices, market entry requirements, regulations, product standards and registration, key competitors and potential agents, distributors, or strategic partners. Free!
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The Initial Market Check is an initial assessment of the market potential of a product or service in a targeted market. The service gauges the potential of a specific product or service in a market by gathering feedback from up to five industry participants and provides recommendations on whether to pursue the target market. Small $350/Medium $900/Large $1,300
Matchmaking Services ยง
The International Partner Search provides U.S. firms with a list of up to five agents, distributors and partners that have expressed an interest in your product or service. Small $750/Medium $1,400/Large $2,800
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The International Partner Search Plus Virtual Introductions provides U.S. firms with a list of up to five agents, distributors and partners that have expressed an interest in your product or service, and includes virtual introductions via teleconference to the identified contacts. Small $900/Medium $1,750/Large $3,400
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The Gold Key Service provides U.S. firms traveling to a foreign market with up to five pre-screened appointments to establish relationships with potential overseas agents, distributors, sales representatives, business partners and other local entities in-country. Small $950*/Medium $2,300*/Large $3,400* *prices are for one day, additional days or 5+ meetings incur an additional charge.
Due Diligence on Foreign Parties ยง
The International Company Profile Full provides U.S. companies with in-depth background check information on a specific foreign company to help determine its suitability as a potential business partner. The service includes a site visit to the target foreign company and interviews with principals/references. Small $700/Medium $1,200/Large $2,000
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The International Company Profile Partial provides U.S. companies with basic background check information on a specific foreign company to help determine its suitability as a potential business partner. Small $350/Medium $850/Large $1,100
In-Country Promotion of Products or Services §
The Single Company Promotion provides U.S. companies with promotional services to help increase the awareness of their product/service in a specific market. The promotional event may consist of a technical seminar, press conference, luncheon, dinner, or reception, with targeted direct mail or e-mail campaigns. Small $800-$2,000/Medium $1,800-$4,800/Large $2,600-$6,300 *Does not include direct costs (i.e. food and beverage, A/V, etc)
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Featured U.S. Exporters Listing provides U.S. companies with an opportunity to enhance their international marketing efforts through improved search engine optimization. A listing on the directory of an overseas CS office’s local website gives U.S. exporters targeted overseas exposure to more effectively help them find foreign business partners in specific local markets. It allows local importers to find U.S. exporters interested in exporting to a specific local foreign market. Small $150/Medium $350/Large $500 *Additional costs for sub sequential market listings, translation and annual renewals.
Trade Events §
The Trade Show Representation service provides U.S. companies and economic development organizations with the ability to increase their marketing exposure at an overseas trade show when they are unable to attend in-person. Multiple clients’ products and services may be showcased by CS at the event. Small $400/Medium $950/Large $1,350 *Direct costs are not included (freight, customs, etc)
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International Buyer Program and Certified Trade Mission Shows provide an opportunity for U.S. Companies to take advantage of Commercial Service programs on site as coordinated through the Show Organizer. FREE! (Step can help cover your costs for travel)
Other Services/Requests § § § § §
Customized Market Research Seminars Trade Events Virtual Introductions Virtual Fairs Charged by an hourly rate: Small $30 per hour/Medium $70 per hour/Large $90 per hour
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Contact Lists Webinars Official Letters Education/Conferences Charged by a set price per activity
Discover Global Markets: Indo-Pacific A Must-Attend Event for U.S. Companies in the Aerospace, Defense, Advanced Materials, and Security Sectors
Attendees may include, but are not limited to: CEOs/presidents, sales and marketing professionals, business development managers, engineers, procurement representatives, and supply chain operations professionals.
U.S. Department of Commerce | International Trade Administration
Discover Global Markets: Indo-Pacific
Pre-Schedule Meetings with U.S. Commercial Diplomats
Learn From and Network With Experts on Topics Including
Pre-Schedule Meetings and Network with Foreign Buyers & U.S. OEMs
Market Forecasts in Indo-Pacific
Procurement Opportunities
Sales Channels & Project Pipeline
Supply Chain Optimization
FMS, Advocacy, Blockchain, Cybersecurity
Export Compliance, IPR, Offsets, Export Finance
Early Bird Registration $325 through September 5 | $395 after September 5 http://bit.ly/DGMIndoPacific
U.S. Department of Commerce | International Trade Administration
Contact us today to connect with a world of opportunity. U.S. Department of Commerce 350 S. Main St., Salt Lake City, UT 84101 Tel: (801) 524-3092 Shelby.Daiek@trade.gov www.export.gov/utah export.gov | 800.USA.TRADE