International Business

International Trade Show Assistance

 

Purpose

The Trade Show Assistance Program (TSAP) provides financial assistance for small Indiana businesses to participate in international trade shows. TSAP is designed to promote Indiana exports by encouraging companies to explore overseas markets.

Funding

The maximum amount of funding is $5,000, or 100% of exhibit space rental fees, whichever is less. Companies may not receive more than $5,000 in funding per fiscal year. The State Fiscal Year runs from July 1 through June 30. Funding for trade shows is limited to one (1) show per company per fiscal year.

To receive this assistance, firms must:

Also, companies:

  • may utilize the program one (1) time per fiscal year
  • may not receive funding to attend the same show every year
  • may not exhibit by catalog only

While companies may not use TSAP funding to attend the same trade show for two consecutive years, they may apply for funding to attend a different show in the same market for two consecutive years.

NOTE: Full stay at the show is required. Those companies not exhibiting ALL days of the show are disqualified from receiving funding from TSAP.

Eligibility

Small businesses eligible for this program are to be defined as a manufacturing concern with worldwide employment of 500 employees or less within the preceding 12 months (this includes parent companies, subsidiaries, divisions of, etc.).

Eligible businesses must also manufacture at least 51% of their product in Indiana to be eligible for funding.

Eligible Expenses

Indiana businesses may receive reimbursement to cover the following trade show expense:

  • Exhibit space rental fees (i.e. floor space, walls, table, chairs, carpet.)

Prequalification

Firms must be prequalified with the IEDC in order to receive reimbursement.

Prequalification is made by completing the following steps:

  • The company must apply at least 3 months before the trade show.
  • The company must conduct adequate market research to determine the presence and extent of overseas markets for their products. Verification of such research may be requested by our office.
  • Submit to the IEDC a prequalification application containing:
    • Information on trade show exhibit space rental fees.
    • Background information on the show:
      • Name, dates and site of the event;
      • Name and title of company employee who will attend the show;
      • Description of products to be exhibited;
      • Objective for attending the exhibition;
      • Projections for the value of show to existing sales efforts; and
      • Percentage of Indiana manufacturing for products at show
    • The amount of financial assistance, if any, received by the business concern from a trade show promotion program other than the TSAP. These additional funds must be deducted from the expenses eligible for reimbursement under this program.
  • Agree to provide the IEDC with a post show evaluation, as well as 6 and 12 month follow-up reports. Evaluation forms will be provided. Companies who do not complete and return these evaluations will be ineligible to receive future funding from the Office of International Development.

Reimbursement Procedures

Selection of applicants is at the discretion of the IEDC based on the criteria for eligibility. Approved applicants will be required to enter into a grant agreement for reimbursement with the IEDC. The grant agreement will state that the IEDC will reimburse the applicant 100% of exhibit space rental fees as described in the application, subject to any limitations. Because the expenses listed in the application are estimates, the IEDC can reimburse a maximum of 10% of the expenses that exceed the estimate. This will occur only when a company has underestimated its expenses.

The grant agreement approval process takes approximately 45 working days. These agreements go through the same process as any other state contract or grant agreement. This is one reason why companies must apply at least 3 months prior to the date of the show.

Upon completion of the trade show, the applicant can request Reimbursement by:

  • Providing the IEDC with a post show evaluation documenting their success at the show including the number of leads generated, agents/distributors signed, off-the-floor sales figures as well as whether the participant's objectives were met. This evaluation form will be provided upon approval of the grant agreement.
  • Provide the IEDC with official paid receipts documenting the expenses related to their participation. Signed original receipts must:
    • be signed by the payee;
    • indicate the dollar amount paid;
    • not be altered in dollar amount;
    • indicate purpose for payment;
    • give name of payer;
    • give date of payment; and
    • be legible.
  • Preprinted (standardized) receipts must:
    • give name of payee;
    • indicate dollar amount; and
    • indicate purpose for payment.
  • Proof of the official exchange rate, used by the company to calculate payment, must be provided through one or more of the following:
    • receipts given at the time of currency exchange;
    • published rate in the Wall Street Journal; or
    • written quote from bank stating exchange rate on specific date(s).

If the aforementioned documents fulfill the prequalification agreement, the IEDC will provide reimbursement for expenses under the TSAP.

Please refer to the 'Checklist for Reimbursement Claim' which is included herein. This form provides detailed information on how to prepare your reimbursement claim. Should you have any questions while compiling your information, do not hesitate to contact our office.

Reimbursement will not be made to a business under the following conditions, if:

  • Any of the conditions outlined under the prequalification agreement are not met.
  • The applicant has received five thousand dollars ($5,000) in reimbursement from the TSAP during the current fiscal year.
  • Products promoted at the show have less than 51% Indiana content.
  • If the IEDC has not received reimbursement request and appropriate documentation from the company within four (4) months after last day of trade show.
  • If the post show evaluation is not returned with the reimbursement claim.
  • If the IEDC has not received 6 and 12 month evaluations for participation in previous shows.

Companies that receive approval for reimbursement through the preapplication process must advise the IEDC of any changes in their plans as outlined in their application.

APPLICANTS PLEASE NOTE:

The number of firms requesting reimbursement and the limited amount of funds available may require the Indiana Economic Development Corporation to select a limited number of firms to receive reimbursement through this program. In this event, firms will be selected based on their sales potential, employment resulting from their export business and the frequency they have used the program in the past.

Checklist for Reimbursement Claim

This checklist is designed to help Indiana companies prepare their reimbursement claim for the Trade Show Assistance Program. It will also keep you aware of the documentation you will need to obtain while planning for your trade show.

The following information must be submitted to the Indiana Economic Development Corporation no later than 4 months after the date of the show.

  • Completed Post Show Evaluation form. Claim Voucher completed at the top and signed and dated at the bottom of the form. All forms must be returned to the Office of International Development. (These forms will be provided to you after your grant agreement is approved.)
  • An invoice on your company's letterhead, stating the amount owed to your company by the State of Indiana.
  • Invoices for applicable expenses (i.e. exhibit space rental). These items cannot be returned. Please note that you will ALSO need to submit a copy of your airline ticket receipt. This documentation is needed for verification purposes only.
  • Copies of canceled checks (FRONT AND BACK) or paid receipts for each invoice. Reimbursement will not be made on any item that does not have an invoice AND a canceled check or paid receipt.
  • Proof of exchange rate for invoices billed in foreign currency and paid in U.S. Dollars. THIS IS VERY IMPORTANT. Please read carefully.

    Your proof of exchange rate must match the rate you use to calculate reimbursement. One exchange rate may be used to calculate all expenses, or the rates may change with each expense. But, you must obtain proof of exchange rate from the Wall Street Journal, a bank or a currency exchange receipt.

Application

FAILURE TO RETURN THE PROPER DOCUMENTATION WILL DELAY THE REIMBURSEMENT PROCESS.

For more information on the Trade Show Assistance Program contact:
Office of International Development
Indiana Economic Development Corporation
One North Capitol, Suite 700
Indianapolis, Indiana 46204
(317) 232-8800

Indiana quickly became the ideal destination for our American headquarters because of its centralized location and the availability of a skilled workforce. Since we will be doing business all across North America we wanted our customers to have easy access and a positive first impression.

- Olaf Tessarzyk, president and managing partner, ZPS America LLC