The State Government's Export Accelerator Program (SAEA) has been relaunched today, delivering funding to support even more SA small to medium sized businesses with growing their international footprint.
Minister for Trade and Investment Stephen Patterson said the financial assistance program has been updated from previous funding rounds to maximise the opportunities for small and medium size enterprises who are export ready to expand into existing or new markets.
"The South Australia Export Accelerator Program was established a few years ago and since then, we have updated the funding streams to support more small to medium business within our Growth State sectors to expand and grow in international markets," Minister Patterson said.
The funding streams available in the newly relaunched SAEA program include:
Export Accelerator Stream – Funding of up to $30,000 (minimum of $5,000) for companies to export, on a 1:1 matched funding basis.
New Market Entry Stream – Funding of up to $15,000 (minimum of $5,000) for companies to export into an additional new market, on a 1:1 matched funding basis. Multiple applications can be submitted for different new markets.
Consortium Stream – Funding of up to $200,000 (minimum of $50,000) for consortiums 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, ecommerce marketing, branding, and freight optimisation and consolidation.
"Exporters are facing new challenges due to trade tensions and COVID-19 disruptions. As a result, we have introduced new activities within the funding streams to assist with market access, including IP advice, product testing and export accreditation to support exporters that are seeking entry to new markets.
"I encourage all South Australian businesses to review the new guidelines of the SAEA to check if they are eligible to apply for funding within one of the three streams. The criteria have changed and companies that were once unable to apply may find that they can now access funding due to the changes in the streams.
"In reviewing the SAEA program, we found that the majority of our companies who are new to exporting, or haven't exported on a regular basis, required a more tailored support approach. These companies will have the opportunity to undertake the Export Fundamentals Program which will assist them in their export preparation and get them ready to potentially apply for SAEA funding in the future."
Companies wanting to learn more about how to export can register for the upcoming Export Fundamentals Program workshops:
- Thursday 2 September: HOW TO: Develop an Export Plan
- Thursday 9 September: HOW TO: Research Markets and Develop your Market Entry Strategy
These workshops will provide South Australian companies with the tools they need to export internationally. Find out more at dti.sa.gov.au/efp
Global digital intelligence solutions company, Fivecast, headquartered in Adelaide, successfully applied for funding through the SAEA to identify and prioritise the US. The funding enabled the company to engage a contractor to develop and execute a channel and partnership strategy for the market, as well as to drive business growth and expansion into different markets and regions.
"We needed to gain financial assistance to execute on our export strategy faster," Dr Brenton Cooper, CEO and Co-founder of Fivecast said.
"Since then, we have also been able to leverage the expertise of the State Government's Department for Trade and Investment team in exporting from South Australia to new markets."
South Australian companies new to exporting who are unsure if they are eligible to apply for the South Australian Export Accelerator program, can view the guidelines online at https://www.dti.sa.gov.au/saea.
For companies ineligible for SAEA funding, a raft of other funding programs and supports are available including the Export Fundamentals Program together with expert advice and support from the Department for Trade and Investment's export advisers and overseas representatives.
Applications open on Monday 23 August. All applications received by Friday 1 October will undergo assessment with applicants notified by Friday 12 November 2021 if they have been successful. Applications can be submitted all year, with assessment rounds held throughout the year.
Visit https://www.dti.sa.gov.au/saea for further information about the program.
