ExporTech was developed by NIST (National Institute of Standards and Technology) and the Manufacturing Extension Partnership (MEP) in 2007 in addition to a variety of local and federal partners including the U.S. Export Assistance Centers of the United States (USEACs) Department of Commerce. ExporTech is a national export assistance program helping small manufacturers (with limited global experience) enter foreign markets. To date, 163 ExporTech programs have been rolled out, but most importantly, it has had a huge impact on small manufacturing participants, resulting in rapidly expanding sales while saving time, money and resources for each company.
The program is broken down into three sessions spanning over ten weeks and each program has about 4 to 8 companies that participate. Throughout the sessions, group workshops are incorporated with individual coaching, resulting in an export plan that has been vetted by experienced professionals.
Why Should Small Manufacturers Join ExporTech?
- A Vetted Export Plan
A concrete export strategy and playbook is produced at the end of the program with vetted input by international experts and business people.
- Valued Connections
Connections are made with similar organizations who have had experience with exporting and C-level experts in your industry with vast experience abroad provide enhanced learning experiences.
- Customized Sessions
Innovative, customized sessions go beyond your normal power point training. Based on feedback from participating ExporTech companies, sessions use vetted checklists, tools and individual consultations to help you get to market faster with improved results
- Go-To Market Support
Beyond planning, executing the strategy is another important piece to a successful exporting program. Regional partners such as logistic companies, District Export Councils (DECs), EXIM Bank, Small Business Development Centers of the (Small Business Administration), and others will ensure you have the right pieces in place for implementation.
The program has shown proven results and concrete benefits for participants. Below are some of the results:
- Participants on average generate $500,000 – $700,000 in new export sales
- Participants generate export sales within 6 months of completing the program
- Participants reported an average cost and investment savings of $91,000
- The average participant created 5 new jobs
Manufacturing Extension Partnership (MEP) centers located around the country have more information on how to get involved in your local ExporTech program.
How EXIM Supports ExporTech Small Manufacturers
EXIM Bank currently has export finance programs aimed at helping small business exporters double their sales. These programs include our Trade Credit Insurance allowing manufacturing companies to safely extend credit terms to their foreign buyers by insuring against nonpayment risks for commercial or political reasons. In addition, we provide Working Capital Loan Guarantees, which provides a 90% loan-backing guarantee to lenders and it expands the borrowing base with more attractive advanced rates compared to traditional financing options in the private sector. To find out more about how our products can support your small manufacturing company, request a consultation with your local EXIM rep!