In this week’s post I wanted to share information about amazing equipment and technology I’d seen at CMTS-2015 last week. But the circumstances changed a little bit. I attended SMART program seminar this Tuesday and had a chance to interview program management. There are important updates to share with you.
2. Pre-Submission System. The program will soon launch a pre-submission system that will tell applicants their chances without submitting full-blown lengthy applications. But there is no timeline when the system becomes available. We will keep you posted.
4. Advanced Technology. The key success factor of the application is advanced technology. The technology must be advanced not only for the applicant but also must be the latest technology in the industry. Advanced technology must result in significant surge in productivity, creating export market opportunities, job growth, quality improvement and new capabilities. Purchasing a piece of equipment to just increase the capacity without the benefits listed above is NOT eligible
5. Job Growth. Adoption of advanced equipment such as industrial robots frequently results in laying off employees. The program will accept this only under condition that the jobs will be created indirectly within the company. The artificial example is: the applicants buy a welding robot, lays off a welder, but hires two additional shippers to dispatch increased volume of good as a result of the technology adoption. The net job growth in this example is 2-1=1.
6. Corporations only are eligible. Partnerships are not. The corporation must be 2 years in business to qualify. If the applicant starts a new corporation for, let’s say, a new facility, the new facility is not eligible.
Business Funding Expert