Grant Funds to Go Global: MI-STEP Program
MEDC's International Trade team is committed to creating opportunities for Michigan businesses to export their products around the world. Michigan's State Trade Expansion Program, or MI-STEP, provides financial assistance to support your business in taking the first steps toward international expansion.
Not only are MI-STEP grants available for activities involving international travel, these grants also support activities you conduct right from your home office. To learn more about these non-travel export activities, watch this quick, minute-long video.
Tips for Leveraging MI-STEP
As we look forward to returning to in-person events, remember to leverage MI-STEP grants to pre-pay trade show exhibition space and booth fees, and put money back in your pocket sooner than later. MI-STEP funds can be used for payment of these expenses up to a year in advance. Don’t wait to get reimbursed; talk to your International Trade Manager about submitting a MI-STEP grant today.
Does your business have an upcoming MI-STEP activity, like online marketing, export training, or website localization? Remember to submit your grant application at least 30 days prior to the activity to be eligible for up to 75 percent reimbursement.
The MEDC International Trade Program has a new allocation of State Trade Expansion Program (STEP) funds available for eligible small business concerns. On September 25, 2020, the U.S. Small Business Administration (SBA) awarded Michigan the maximum state award of $1,350,000 in MI-STEP funds for FY21. With additional state match funding, total funds available are $1.85 million.
The program has three primary objectives:
- Increase the number of Michigan small businesses that export
- Increase the dollar value of Michigan exports
- Increase the number of Michigan small businesses exploring significant new trade opportunities
For more information, please click here.