Trade and Investment Minister Stephen Patterson said the financial assistance program has been updated from previous funding rounds to maximize opportunities for small and medium-sized businesses that export ready to go. develop in existing or new markets.
“The South Australia Export Acceleration Program was established a few years ago and since then we have updated funding sources to support more small and medium-sized businesses in our growth sectors to support themselves. develop and grow in international markets, ”said Minister Patterson.
Sources of funding available in the newly revived TLSS program include:
Export accelerator flow – Funding up to $ 30,000 (minimum of $ 5,000) for exporting companies, on a 1: 1 matched funding basis.
New market entry stream – Funding of up to $ 15,000 (minimum $ 5,000) to enable companies to export to an additional new market, on the basis of 1: 1 matching funding. Several requests can be submitted for different new markets.
Consortium component – Funding of up to $ 200,000 (minimum $ 50,000) for consortia of at least three companies to undertake collaborative export activities, on a 1: 1 matched funding basis. Joint activities include, but are not limited to, joint retail / distribution channel campaigns, e-commerce marketing, branding, and freight optimization and consolidation.
“Exporters face new challenges due to trade tensions and disruption related to COVID-19. As a result, we have introduced new activities into the finance streams to facilitate market access, including intellectual property advice, product testing and export accreditation to support exporters looking to enter. new markets.
“I encourage all businesses in South Australia to review the new PSAB guidelines to see if they are eligible to apply for funding under one of the three streams. The criteria have changed and companies that were unable to apply may find that they can now access finance due to changes in the supply chains.
“In reviewing the TLSS program, we found that the majority of our businesses that are new to exporting, or have not exported regularly, needed a more tailored support approach. These companies will have the opportunity to undertake the Export Fundamentals program, which will help them in their export preparation and prepare them to potentially apply for PSAB funding in the future. “
Companies wishing to learn more about how to export can register for the next workshops of the Export Fundamentals program:
- Thursday September 2: HOW TO: Develop an export plan
- Thursday, September 9: HOW TO: Research markets and develop your market entry strategy
These workshops will provide South Australian businesses with the tools they need to export internationally. Learn more at dti.sa.gov.au/efp
Global digital intelligence solutions company Fivecast, headquartered in Adelaide, has successfully applied for funding through the PSAB to identify and prioritize the United States. The financing allowed the company to hire an entrepreneur to develop and execute a distribution and partnership strategy for the market, as well as to stimulate the growth and expansion of the company in different markets and regions.
“We needed financial help to execute our export strategy faster,” said Dr. Brenton Cooper, CEO and co-founder of Fivecast.
“Since then, we have also been able to leverage the expertise of the state government Department of Trade and Investment team to export from South Australia to new markets.
South Australian companies new to exporting and unsure if they are eligible for the South Australian Export Accelerator program can view the guidelines online at https://www.dti.sa.gov. at / saea.
For businesses ineligible for PSAB funding, a range of other funding and support programs are available, including the Export Fundamentals program as well as expert advice and support from export advisors and representatives. abroad from the Ministry of Trade and Investment.
Applications open on Monday 23 August. All applications received by Friday October 1 will be evaluated and applicants will be notified by Friday November 12, 2021 if they have been successful. Applications can be submitted year round, with evaluation cycles throughout the year.
Visit https://www.dti.sa.gov.au/saea for more information about the program.