World Trade Center Utah recently awarded funding to 10 Utah companies as part of the Utah Export Acceleration Grant (EAG).
Created to help small and medium-sized businesses actualize their international business goals, the EAG is administered by WTC Utah and made possible through a generous contribution by JPMorgan Chase & Co.
“JPMorgan Chase & Co. and the Export Acceleration Grant are catalysts that enable Utah businesses to expand internationally,” said Miles Hansen, President and CEO of WTC Utah. “WTC Utah works with Utah businesses that receive the Export Acceleration Grant to identify and capitalize on international growth opportunities by brokering introductions, providing consultations and conducting market research.”
Recipients of the grant obtain access to knowledge, tools and connections that are otherwise out of their reach. Additionally, grant recipients receive reimbursements for education, services and travel activities geared towards advancing their international business plan. Examples include translation and research fees and travel costs associated with trade missions and trade shows. With this grant, businesses gain the opportunity to begin or increase their exporting activities and enter into new markets.
GoZunder LLC (GoZunder), a 2018 recipient of the Utah Export Acceleration Grant, creates products to enhance and normalize bathrooms of disabled, elderly and post-operative patients at competitive prices. The business used the funds they received from the EAG to attend an export led trip to the United Kingdom. “Obtaining a feel for a market is never possible from a distance,” said Nigel Gillingham, Director. “By connecting face-to-face with suppliers and manufacturers, we were able to forge connections and identify opportunities.”
Additionally, grant funds were used to help BEST Police Training LLC and Expedition One take part in the first Exportech program in Utah. The Exportech program was in partnership with U.S. Commercial Service and the University of Utah Manufacturing Extension Partnership (UUMEP) Center. The purpose of the national program is to help small and mid-sized companies boost their sales revenues via exporting.
Other recipients used the funds to attend independent trade shows and educational and training programs, as well as to optimize their website for international purposes. For example, Reef Life Restoration was able to create a more effective website with the grant funds and, as a result, the company has increased their customers, export sales and international reach.
The following companies are recipients of the Utah Export Acceleration Grant:
- BEST Police Training, LLC
- Vaporsens, Inc.
- GoZunder LLC
- Millcreek Cacao Roasters LLC
- Reef Life Restoration
- Sugar House Awning & Canvas Co.
- Expedition One
- Limble CMMS
- The Blueberry Hill, LLC
WTC Utah and JPMorgan Chase & Co. will be awarding additional grant funds at the Utah Global Forum on November 8, 2018, during the Pitch Competition breakout session. To learn more about the Utah Global Forum visit: utahglobalforum.com/.
Please visit the WTC Utah Grants Page for more information: wtcutah.com/grants/utah-export-acceleration-grant/