14/08/2024 | Press release | Distributed by Public on 15/08/2024 05:54
(Dover, NH) - U.S. Senator Jeanne Shaheen (D-NH), Chair of the U.S. Senate Committee on Small Business and Entrepreneurship, today was joined by the first cohort of graduates from the New Hampshire Export Accelerator. Launched in May 2024 and funded through the State Trade Expansion Program (STEP) that Chair Shaheen helped create, the New Hampshire Export Accelerator combines educational sessions and one-on-one advising to help businesses develop their export plans. Guest speakers from the U.S. Commercial Service (USCS), the U.S. Small Business Administration (SBA), the NH Department of Business and Economic Affairs (BEA) and the NH Small Business Development Center (NH SBDC) helped participating small businesses access resources and navigate the first steps to exporting.
"I'm thrilled to celebrate the New Hampshire Export Accelerator's inaugural cohort and learn how this program has equipped graduates with the export knowledge necessary to thrive and generate high-quality jobs within our state," said Chair Shaheen. "It's truly inspiring to witness the collaborative efforts of these offices. This level of cooperation is exactly what our Granite State exporters need. Congratulations to this pioneering group!"
Cohort companies include:
The NH Export Accelerator is funded by STEP, which Chair Shaheen helped create as a pilot program in 2010. STEP was fully authorized by Shaheen's small business trade amendment that was signed into law in 2016. Since its creation, STEP has awarded $235.5 million in grants and directly supported more than 13,000 small businesses' international expansion and export growth.
In May, the U.S. Senate Committee on Small Business and Entrepreneurship reported out legislation that reauthorizes STEP. The STEP Modernization Act of 2024 streamlines the application, reporting and compliance requirements, improves award consistency and transparency and establishes a formula that will replace the current competitive process for determining award amounts once appropriations reach a set level. These changes make STEP more flexible and easier to administer in order to increase the number of small businesses that can access and compete in international markets.
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