State export activation program accepts Hampton company into March 2008 class
RICHMOND - The Virginia Economic Development Partnership (VEDP) Division of International Trade today announced that Collier Research Corporation of Hampton was accepted into the March 2008 class of the Accessing International Markets (AIM) program. The year-long export development program helps Virginia companies pursue new business opportunities overseas. The March 2008 class will target countries in the Americas, Europe and Asia.
Collier Research Corporation is the developer and provider of HyperSizer® Structural Sizing Software, a composite material design and analysis software primarily for the aerospace industry. HyperSizer provides stress analysis and structural design for weight reduction, system level trade studies, and part sizing, including sizing stiffened panel cross-sectional dimensions, material selection and optimum composite layup stacking. Customers include NASA, Boeing, Lockheed Martin and many others.
“The aerospace industry in Asia is experiencing a significant and long-term pattern of growth, providing a timely opportunity for our company to enter this emerging market,” said Vice President of Sales Ivonne Collier, P.E. “We see exporting as a growth strategy for our company and are positioning ourselves to increase sales in China, Korea and Japan in 2008. The research, counsel, and capital funding provided by the AIM program will be essential elements to our success in Asia.”
AIM jump-starts exports by encouraging a proactive, systematic approach to exporting in order to minimize risks and maximize returns. Participants learn the basics of export while they simultaneously explore sales in a new market overseas. Companies do not need prior export experience, but must agree to visit their target export market prior to graduation, and must attend quarterly seminars covering the basic steps of exporting.
“To support their efforts, AIM connects participants to the tools and resources needed for successful export sales,” said Elizabeth Morgan-Brown, AIM Program Manager. “VEDP looks forward to supporting Collier Research Corporation as they develop and implement their international business strategy.”
Participants have access to $5,000 that will be refunded to offset approved export-related expenses. They also receive pro-bono counseling from six private-sector export specialists including an attorney, a Web designer, a banker, a translator, a freight forwarder and a U.S. export compliance specialist.
AIM draws upon public and private-sector resources to help participants develop and implement a custom Market Access Plan (MAP) for their target market that incorporates the 10 basic steps of export. The AIM “MAP” approach can be replicated to target new markets in the future. Participants are also encouraged to initiate projects to support their overall exports, such as conducting a compliance audit, translating marketing materials, updating Web sites or purchasing export software.
Based on a competitive quarterly application process, 20 companies will be accepted into the AIM program each year.
To learn more about the AIM program visit www.ExportVirginia.org
The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 21-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico, Brazil, Korea and Japan.