DELAWARE — The Delaware Department of State has unveiled the Compass Grant, a new initiative aimed at assisting small businesses in the state to expand their products or services globally.
The grant program is designed to support international travel or business development activities. In a departure from previous programs, the Compass Grant offers greater flexibility, reimbursing up to 50 percent of pre-approved, eligible international marketing expenses, capped at $10,000 per fiscal year, per company.
Eligible expenses for reimbursement under the Compass Grant include:
- Booth fees for participating in overseas trade shows
- Travel expenses for meeting potential clients or distributors abroad
- Fees associated with the US Commercial Service’s International Partner Search
- Costs incurred in obtaining a CE Mark
- Expenses related to translating product marketing materials into foreign languages
- Costs associated with optimizing and localizing websites for foreign markets
To help businesses navigate the application process and eligibility criteria, an interactive webinar will be hosted by the Export Delaware team. The session is open to any manufacturer or professional service provider interested in expanding their sales to other countries, as well as current exporters looking for additional funding to boost their sales.
Beth Pomper, Director of International Business Development at Export Delaware, will be the main speaker at the webinar. With 30 years of experience in international marketing and sales, Pomper has assisted nearly 100 Delaware companies in launching and expanding their export sales, generating over $375 million in business and creating nearly 100 jobs in the state.
Export Delaware, an initiative of the Delaware Department of State, is the state’s official resource for small and medium-sized businesses looking to export their products and services. The organization provides on-site guidance to businesses exploring export opportunities or seeking to expand their current export activities to new markets.
According to data, innovative small- and medium-sized businesses, which make up 98 percent of U.S. exporters, are among the most successful exporters. These businesses typically witness faster-growing sales, create more jobs, and are less likely to close down compared to non-exporting establishments. With the introduction of the Compass Grant, Delaware’s small businesses are set to further strengthen their global footprint.
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