MetroConnect Workshops Help Global Expansions

SAN DIEGO, CA, USA - As part of the 2016 MetroConnect Program, WTC San Diego hosted two workshops to help the current cohort of 15 companies learn the ins and outs of going global.

The first workshop was hosted by East County-based Taylor Guitars. Leadership from the company spent time discussing topics related to exporting: how to choose export markets, compliance, export basics, how to get paid and more. Here are a few things we heard and learned along the way:

It’s not all about widgets! Technically, there are actually two types of exports:

• Physical Export – goods physically go out of country
• Deemed Export – release of controlled technology to foreign persons in the U.S. are "deemed" to be an export to the person’s country or countries of nationality

• Know your foreign buyers – end users/uses; screening lists (parties of concern); Foreign Corrupt Practices Act
• Know your products – restrictions for transport; country restrictions by tariff or sanction; permit or licensing requirements; controlled or prohibited items

The second workshop was hosted by Qualcomm Ventures (QCV). Representatives from QCV discussed ways participants can seek funding to expand their international presence and capabilities. In addition, individuals from the Export-Import Bank and Silicon Valley Bank were in attendance to discuss other creative ways to finance export opportunities.

Key insights from the Qualcomm Ventures workshop:

• Whether you’re asking for a loan or pitching for venture capital, be confident, skip the nebulous marketing-speak and “don’t be weird." Metrics matter when banks and funds make choices on who to finance, but personality can (and often is) a factor.
• Small businesses that are having difficulty finding sales insurance through a traditional channel should consider the EXIM Bank. EXIM’s specialized credit and loan programs help ensure that SME’s looking to go global have access to the resources they need in order to confidently kickstart their export activities.

Another major takeaway from these efforts was just how incredibly supportive the local business community is. Taylor Guitars and Qualcomm Ventures have given a significant amount of time and energy to these MetroConnect activities, and we are thankful for their stellar efforts.\

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