Empowering Global Growth: HydroComp’s Success through the SBA STEP Grant and NH DBEA Partnership

For over a decade, HydroComp has cultivated a fruitful partnership with the New Hampshire Department of Business and Economic Affairs (DBEA). This collaboration has been instrumental in supporting HydroComp’s growth and expansion efforts, particularly in reaching international markets via leveraging their resources, guidance and support. One of the most impactful aspects of this collaboration has been the utilization of the Small Business Administration State Trade Expansion Program (STEP) Grant.

“Most of the funding for this program (75%) is funded by the federal government through the SBA. The remaining 25% is funded by a matching grant from New Hampshire’s state government, which manages the program,” explains Alan Dillingham, New Hampshire’s STEP Project Director. “Most of the funds managed by the state go to eligible small businesses, like HydroComp. These grants are the heart of the program.” They are focused on assisting these small businesses with export-related activities, like trade shows, translations, and email campaigns abroad.

The SBA STEP Grant has been a game-changer for HydroComp (and HydroComp’s partner company, TrueProp Software LLC), enabling us to promote our innovative software solutions and services to a larger global audience. With the financial support from the STEP grant, we were able to execute strategic marketing campaigns, conduct market research, and participate in supplemental international trade shows in the Netherlands, Philippines, India, South Korea, and China. These initiatives not only increased our brand visibility, but also significantly boosted our alliances with local agents to promote sales overseas.

“The most rewarding part of the program is working with NH small businesses to get their projects off the ground,” Alan declares. “We get companies at different levels of preparedness for exporting. We make sure they are ready to present a project that is likely to win a STEP award. There’s a lot of hands-on, back and forth work that goes on. We are there to help NH companies out. I’m satisfied when a company presents a good, strong application for a grant and goes on to do good things with that grant.”

For more than a decade, The NH Step Grant program has enabled HydroComp to connect with potential clients and build new partners. This program also provided personalized support and assistance from the US Commercial Service, which was tantamount to our expansion into more distant and challenging international markets.

We are proud of our achievements and grateful for the ongoing support from the SBA and NH BEA STEP Program. Because of this teamwork we have successfully penetrated new international markets, connected with new customers and elevated our brand on a wider global scale. This solidifies our position as a competitive player in a multinational marketplace. As we continue to innovate and grow, we look forward to many more years of collaboration and success.

For more information, contact:                                       

HydroComp, Inc. Tel +1.603.868.3344 danielle.doonan@hydrocompinc.com hydrocompinc.com