The Government of Manitoba is offering a cost-shared program designed to support Manitoba companies in their export initiatives. The Export Development Program (EDP) aims to support the participation of Manitoba companies in tradeshows or trade missions outside of the province.
The EDP focuses on supporting efforts by Manitoba’s small and medium-sized businesses to export and diversify markets.
This new initiative reimburses a portion of their expenses incurred when Manitoba companies enter a new market outside the province or export new products or services outside of Manitoba.
Funding Snapshot: Manitoba Export Development Program (EDP)
The Export Development Program relieves expansion strains faced by which small or medium-sized Manitoba companies. There are several eligible costs covered under this program ranging from travel costs to translations and market research initiatives.
Applicants can receive up to:
- 50% reimbursement for exhibiting in a tradeshow or a trade mission with a business-to-business meeting components outside the province of Manitoba;
- 30% reimbursement for participating in a tradeshow outside of Manitoba, with clear objectives set ahead of time on why this visitation would benefit the business; or
- $30,000 in cost-matching funds per fiscal year for the above expansion initiatives.
Note that these expenses are covered for up to two company representatives per company per event.
Applicants are eligible if they are:
- Registered SMEs with more than half of full-time employees residing in Manitoba;
- Earning $100K – $50M in annual, taxed revenues during the company’s last fiscal year; and
- Participating in a business-to-business conference or event (direct-to-consumer events are ineligible for funding).
Projects must support entering a new market outside of Manitoba via:
- Tradeshow/mission registration;
- Establishing booth exhibit space;
- Event marketing material translation;
- Relevant trade preparedness training;
- Travel and accommodations for events; and
- Market research.
The EDP will have an ongoing rolling application process. Applications must be received at least 60 days before the tradeshow or trade mission.
Access and Stack More Export Funding
If your company is looking for more funds to support exporting, the CanExport SMEs funding program supports businesses developing new export opportunities and markets, particularly high-growth priority markets and sectors, by covering a portion of eligible sales and marketing activities.
Business expansion is difficult and a costly process. This is why we encourage clients to consider stacking funding programs. Stacking government funding refers to the approach of utilizing multiple federal and provincial programs to offset a greater portion of eligible project expenses.
A proactive stacking approach to utilize multiple funding programs requires strong project management and funding expertise, but the benefits are well worth the work.
Mentor Works can support stacking programs for your company, so you can focus on what is important – expanding your business beyond borders.