A year ago, Enterprise Florida announced the availability of grants created to help small and medium-sized companies increase sales and promotional opportunities through participation in international trade missions and tradeshows. Now, 24 companies have received a Target Sector Trade Grant, which can total up to $4,000.
“These are market diversification grants that support companies’ efforts to expand their markets. The objective is to aid them in finding new markets and diversify their exports,” explained Manny Mencía, who oversees Enterprise Florida’s international trade division.
The grants are provided on a reimbursable basis, meaning a company receives funds following its participation in an event. Qualifying activities are those for which Enterprise Florida sponsors either delegations or select U.S.-certified trade exhibitions representing a target industry for the state’s economic growth and diversification. They include aviation & aerospace; clean energy; financial & professional services; homeland security & defense; information technology; life sciences; and targeted manufacturing, including the boating/marine sector.
“Essentially, we’re enabling smaller companies to take part in major international product exhibitions worldwide that they otherwise might not be able to afford,” said Mencía.
M. Catherine Burney, president of Scar Heal, a skin therapy business based in Madeira Beach, acknowledged in a thank-you letter that “without the financial assistance of Enterprise Florida we would not have been in a position to absorb the full financial costs of the [Hospitalar] show. Having received the grant, we were able to attend Hospitalar and move forward with expanding our international distribution network to Central and South America.”
Grant-eligible organizations are Florida manufacturers, research and development companies and technology services providers within one of the target industries. Enterprise Florida collaborates with an applicant’s local economic development organization in the selection process, which requires a company to:
Be legally registered in Florida
Have in-state-produced products or services that would exhibited
Staffed at 500 or fewer employees
Be “new to show” or “new to market,” or a new or infrequent exporter.
For more information about eligibility and the application process for Target Sector Trade, businesses can contact Fred Glickman at (305) 808-3588 or email@example.com.
Target Sector Trade Grant Recipients