The Maryland Department of Commerce is helping defense contractors grow their businesses, increase profits and find new opportunities. The Maryland Defense Diversification Assistance (MDDA) program seeks to help defense contractors diversify into new markets. Diversification is important for defense contractors given the unpredictability of procurement trends of the United States Department of Defense (DoD).
The MDDA program will help your business find new sources of revenue beyond your DoD contracts. This program will provide your business with strategies to help lessen your funding dependency on DoD revenue, which can often be unpredictable in the case of budget cuts, contract cancellations, etc.
As part of this process, your business will undergo an assessment of its services/products and business practices and goals. This assessment will determine your business’s readiness to enter new markets.
If your business is assessed as ready to diversify then you will have an option to attend training and skill building seminars at no charge. You may also receive a recommendation to work with an expert consultant who can assist in exporting or commercialization activities.
Please note that the MDDA program doesn’t reimburse or pay participants. Instead, the program will pay for partial costs of consulting services related to the program. These services can include: coaching/mentorship, market identification and research, supply chain solutions, strategic development assistance, lean manufacturing, export legal counseling, executive coaching, ITAR/EAR Compliance, logistics and distribution services, website globalization, marketing assistance and more.
According to the Maryland Department of Commerce, the benefits of the MDDA program include:
To apply for the program, your business must meet the following requirements:
Visit the Maryland Department of Commerce website to get complete details on the MDDA program. To submit an application for the MDDA program click here. Applications will be accepted through the summer of 2019.
For more information on the program, you can reach out to the program administrators at firstname.lastname@example.org. Maryland manufacturers can also reach out to the Maryland Manufacturing Extension Partnership at email@example.com for more information on the program.
Published on August 13, 2019