ADVANCED INDUSTRIES EXPORT GRANT
The Advanced Industries Export Grant is a Colorado financial assistance program for aspiring and current exporters in Colorado's Advanced Industries (Aerospace, Bioscience, Electronics, Energy and Natural Resources, Infrastructure Engineering, Technology and Information and Advanced Manufacturing). Administered by the Colorado Office of Economic Development and International Trade (OEDIT), the grant program supports small and medium-sized business in the advanced industries and offsets international business development and related marketing costs. The program encourages small and medium-sized Colorado businesses to develop export markets.
Grants under the Advanced Industries Export Grant are capped at $15,000 per business to reimburse for costs associated with projects, activities or services undertaken during the period July 1, 2014-June 30, 2015. Each grant recipient is required to provide a match to cover at least 50% of the total approved cost for any project, activity or service described by the applicant in the grant program application. Financial assistance through this grant program is only applicable to expenses which have yet to be incurred by the applicant and which have specifically been deemed as eligible for reimbursement by OEDIT.
Grant program applications will be accepted starting July 1, 2014 and will be accepted on a rolling basis until funding runs out.
Applicant Eligibility Checklist
Colorado company participant must meet the following qualifications to be eligible for the AI Export Grant:
- Company must be in an Advanced Industry (Advanced Manufacturing, Aerospace, Bioscience, Electronics, Energy & Natural Resources, Infrastructure & Engineering, and Technology & Information)
- Company must employ less than 200 employees globally
- Company must be new to export or expanding to a new export market
- Company must have its headquarters located in Colorado or have at least 50% of its employees based in Colorado
- Company should already have a commercialized product or service that is to be exported
- Company must have at least two years of domestic sales experience
- Company must show a profit during the last fiscal year
- Company must be registered and in “Good Standing” with the Colorado Secretary of State
- Company must be export ready. Export readiness is evaluated by the OEDIT based on the company’s ability to meet new customer demand, provide any necessary customer service to foreign buyers and meet any applicable export regulations and/or certifications that may be required to sell the product or service in the target market
- Company must apply directly to grant program. No third party consultants, agents, or representatives may apply on behalf of a client company or their own consultant firm
- A participant is defined as a company, not an individual employee of a company
Eligible Export Projects, Activities or Services Covered by Program
Grant proceeds may be used for specific international business development and marketing projects, activities or services. These costs may include, but are not limited to:
Client Development Activities
- Roundtrip, economy-class airfare to a foreign market for up to three individuals as necessary and as warranted by the anticipated economic benefit of the trip.
- Roundtrip, economy-class airfare for a foreign company to come to Colorado to further develop and already existing business relationship with a local Colorado company. Roundtrip airfare will be provided for up to two individuals from the foreign company as necessary and as warranted by the anticipated economic benefit of the trip.
- Lodging for up to seven nights for up to three representatives of the participant in the foreign market or their potential buyer/partner in Colorado. Funds will cover standard-room charges and cannot cover suites or similar lodging expenses.
- Foreign trade show exhibition and conference participation costs.
- OEDIT and/or U.S. Department of Commerce (“DOC”) sponsored trade missions.
- Foreign business-to-business matchmaking services, including the use of the U.S. Department of Commerce’s Gold Key service.
- Targeted advertising in overseas industry trade publications.
Technical Assistance Activities
- Legal fees to assist with international contracts or other legal documents, intellectual property protection in international markets, international legal counseling or other legal questions that may arise
- Translation services for contracts, websites, marketing materials and other official documents
- Due diligence and credit reports on potential international buyers and distributors obtained through the International Company Profile of the DOC or other private sources.
- Costs associated with international labeling, packaging and/or shipping
- Translation and product localization-related services, including compliance with foreign regulatory requirements.
- Design or production of international marketing materials
- Quality certifications and product registration in international markets
- Preparation of product documents, product registration, or assembly or maintenance instructions
The OEDIT reserves the right to not reimburse for expenses it deems ineligible. Grant proceeds will NOT cover certain activities, including but not limited to:
- In-country transportation (taxis, trains, metros, etc.)
- Travel incidentals nor meals/per diems
- Routine business operation expenses
- Infrastructure-related expenses
- Personnel-related costs
** Grant proceeds will not be applicable to any expenses that a company may have incurred prior to company’s receipt of a detailed commitment letter from the OEDIT, which would include the agreed-upon types and timing of expenses and the expense in USD. Financial assistance through the Advanced Industries Export Grant is only applicable to expenses which have yet to be incurred by the applicant and which have specifically been deemed as eligible for reimbursement by the OEDIT.
International business development strategies and projects that demonstrate a need for funding in a clear, targeted, and manageable manner will be considered for the Advanced Industries Export Grant. Funding amounts are at the discretion of the OEDIT and selection of participants will be made through a competitive process based on the quality of proposals and export potential of applicant companies. Completed applications will be considered on a rolling basis until funds are exhausted. The OEDIT will begin accepting applications starting July 1, 2014.
Applications are submitted electronically through a username and password that is unique to each applicant. Applicants must first speak to the OEDIT International Division to determine eligibility and to receive electronic instructions to apply.
The OEDIT will review completed applications as they are received and determine eligibility and funding levels on a rolling basis. Grant awardees will receive a detailed commitment letter from the OEDIT indicating the agreed-upon export development project or activities, timing and expenses in USD. Financial assistance through the Advanced Industries Export Grant is only applicable to expenses which have yet to be incurred by the applicant and which have specifically been deemed as eligible for reimbursement by the OEDIT.
To apply to the Advance Industries Export Grant, please contact one of the following International Division representatives:
Jorge Diaz - Export Grants Manager
303-892-3858 or email@example.com
Sandi Moilanen - International Division Director
303-892-3857 or firstname.lastname@example.org
Projects in the Americas
Sandi Moilanen - Interim Business Manager for the Americas
303-892-3857 or email@example.com
Projects in Asia-Pacific
Jeffrey King - International Business Manager, Asia-Pacific
303-892-3846 or firstname.lastname@example.org
Projects in Europe, Middle East and Africa
Stephanie Dybsky - International Business Manager, EMEA
303-892-8762 or email@example.com