In early December 2018, the Indy Partnership offered a new round of export acceleration grants — up to $5,000 in matching funds — to small-and medium-sized enterprises (SMEs) headquartered in the nine-county Indianapolis region. The GoGlobal Grant Export Acceleration Program is funded by JPMorgan Chase through the Brookings Institute’s Global Cities Initiative, to help SMEs grow through overseas sales.
Two firms have been selected for this round of funding: Aerosmith Fastening Systems (HKN International, LLC) in Indianapolis and Verdure Sciences in Noblesville.
Aerosmith Fastening Systems (HKN International, LLC)
Aerosmith Fastening Systems specializes in hardened steel pins & tools used for fastening to steel, concrete, and many composite materials. The company is increasingly engaged in the business of developing, manufacturing, selling, and distributing fasteners, tools, fastening systems, and related accessory products.
Aerosmith began exporting to Australia and New Zealand following up on steel framing (residential) fabricator requests to field trial their products. Aerosmith had developed fasteners for a large well-known USA based company that influenced those markets. Once they were convinced their products worked, they pressed for testing to meet local building code standards, so Aerosmith products can be sold across both countries. The GoGlobal grant money will be used to help Aerosmith complete that testing and pay for local engineering resources to write compliance reports.
Verdure Sciences is a global supplier of botanical extracts through the integration of agricultural, production and research platforms. The company emphasizes developing scientifically backed botanical extracts through clinical initiatives. Founded by Purdue-alum Ajay Patel in 1997, in October 2018, Verdure Sciences successfully unveiled its 17,500-square-foot campus in Noblesville.
Verdure Sciences will use its GoGlobal Grant funds for export training and international trade shows in China and Tokyo. The additional territory, if successful, would rapidly increase their exports to 50-60% of their total sales.
“Verdure continuously looks for ways to penetrate new markets and expansion as part of their general growth strategy,” said Verdure Sciences VP of Marketing and Innovation Sonya Cropper. “Beyond standard direct sales and marketing options, Verdure is excited to strategically align specific products with key Australian distributors with proven success and direct Asian access.”
We wish both companies success as they expand overseas!