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Market Development Cooperator Program
PROJECT PROFILE: Centerstate Corporation for Economic Development (CenterState CEO, 2013 award)
MDCP partner CenterState CEO has not only been a participant at Sands Singapore events, but also helped one New York firm secure a major client at this hotel complex. image: CenterState CEO
Huge Market for Small Upstate Firms
With a combined GDP of nearly $3 trillion, the ten Southeast Asian member nations of ASEAN would rank as the sixth largest economy in the world after Germany.
MDCP Award/CenterState CEO Match: $225,002/$474,975
Markets Targeted: Singapore, Malaysia, Indonesia
U.S. Industry Promoted: Digital electronic devices, especially for: environmental technologies, avionics, medical technologies, communication, and measurement
Period: 2014-2019
Key ITA Collaborators:
- Jonathan Alvear, Industry & Analysis, Office of Transportation & Machinery
- John Tracy, GM Commercial Service Buffalo
- Ng Haw Cheng, GM Commercial Service, Singapore
Project Description:
- Match small firms with larger mentor firms.
- Export-audit each firm & refer it to resources.
- Get smaller firms to share larger firms' booth space at trade shows.
Project Milestone Report (Part B)
Projected Exports Generated by 2018: $28,800,000
Exports Generated by 2019.09.30: $27,202,496
Exports Per Dollar of Award: $131 ($27,202,496/$207,379 of award spent)
Before applying for MDCP financial assistance, CenterState CEO studied regional surveys of Central New York businesses and found that Singapore, the epicenter of ASEAN, was one of the leading markets for Central New York products, including its electronic products.
Mentoring Makes Up for Size and Experience
One of the unique elements that CenterState CEO built into its MDCP project was to create a “mentoring program”. The goal is to have experienced export firms from Central New York mentor and provide technical support for less-experienced, new-to-export firms.
CenterState CEO has found that many of the successful regional exporters are enthusiastic about passing on knowledge of their techniques, contacts, and experience to benefit new-to-export firms. Because the diverse array of businesses in the Central New York electronics cluster few of the firms directly compete against one another, so they are willing to help other firms get off to good starts in their export programs.
Travel to the Region
After benefiting from the mentoring, CenterState CEO has helped several small firms to find new ASEAN customers. With only rare exceptions, finding and maintaining new clients abroad requires travel abroad. This is something that CenterState CEO has helped several U.S. firms do on several occasions.
Travel to the region might be to attend a trade show. Singapore is the most popular ASEAN site for expos, such as the Singapore Air Show. Or, it could be a trade mission. These generally require more planning, but they can yield focused results, especially when match-making tools like the Gold Key Service are used.
Singapore's Biggest Expo Venue
Singapore is perhaps the epicenter of much international commerce in Southeast Asia. The Marina Bay Sands Hotel pictured above, is a popular venue for trade shows and other large events.
At one Singapore trade event, CenterState CEO and ITA's Commercial Service Singapore introduced a Singapore installer of refrigeration equipment to Air Innovations. The result is that this North Syracuse's Wine Guardian equipment for maintaining ideal humidity and temperature is installed in the Bread Street restaurant at the Sands and at three other locations in Southeast Asia.
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CenterState Corporation for Economic Opportunity (CenterState CEO) is an independent economic development organization and chamber of commerce dedicated to the success of its members across Central and Northern New York. CenterState CEO members get access to business development assistance and connections to nearly 2,000 member businesses of all sizes across Central and Northern New York over $26 billion.
CenterState CEO contact: David Mankiewicz
- CenterState CEO home page
- How to apply for MDCP funding
- Contact your local Commercial Center
- Highlight: Storing fine wine in Southeast Asia
- Highlight: Philippine Navy chooses NY-built radar
- Highlight: Most Exports Come Late in Project Period
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