The Colorado Minority Business Office is excited to announce that it is now offering a grant to increase international export opportunities!
Export Grant Program Overview – Minority Business Office
The Export Grant is a financial assistance program administered by the Colorado Office of Economic Development and International Trade (OEDIT). This program is funded by the Minority Business Office in partnership with the International Trade Office for aspiring and current exporters.
The grant program supports small and medium-sized businesses that are minority or women-owned, and offsets international business development and related marketing costs that are new to exporting or are expanding into new export markets. The program encourages small and medium-sized Colorado businesses to develop export markets.
Details:
* Grants under the Export Grant, funded by the Minority Business Office, will be capped at $15,000 per business to cover costs associated with projects, activities or services undertaken during the period July 1, 2015 – June 30, 2016.
* Each grant recipient will receive a 50% reimbursement for approved expenses, activity or service described by the applicant in the grant program application.
* Financial assistance through this 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.
* Proof of expenditures will be required to be submitted to the Minority Business Office (i.e. proof of payment, receipts, statements).
* A mid-year progress report and final report will need to be filed with the Minority Business Office half way through the grant cycle and at the end of the grant cycle.
* Grant applications will be accepted through May 29, 2015. Late applications will not be considered.
Eligibility Requirements:
* Company employs less than 200 employees globally
* Company is headquartered in Colorado or has at least 50% of its employees based in Colorado
* Company is registered and in good standing with the Colorado Secretary of State
* Company ownership is 51% minority or women, who have primary responsibility for managing day to day operations
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 an 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 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.