Export revenues grow to 20 percent due to funding from World Trade Center Utah’s Export Acceleration Grant.
Tycon Systems designs and manufactures remote power systems for wireless and surveillance technology markets. Since 2008, they have pioneered their products’ technology to utilize solar and wind, power conversion, point-to-point wireless, and Ethernet technology. Since their systems are also customizable for their clients, Tycon Systems is one of the leading firms within the industry.
In 2015, Tycon Systems committed to developing and expanding their export program, attending trade shows as well as participating in state-led trade missions. Recently, they started pursuing similar opportunities in Brazil and in South America after receiving an Export Acceleration Grant from World Trade Center Utah.
“Our initial approach was to set the ground work and layout our approach to the business opportunities in Brazil, which will of course over lay into other South American Countries,” said Bruce Sutton, CEO of Tycon Systems. “
With the grant funding, they attended a the Microtik Users Meeting trade show in Maceio, Brazil and met face to face with prospective business partners.
“The purpose of our trip was to evaluate the economy, business network, and look at the logistics in setting up the first market within the country. We were impressed by the interest we received from industry representatives and developed meaningful relationships that just cannot be done over the phone,” commented Sutton.
At the show, Tycon Systems showcased their diverse product line to more than 10,000 show attendees and generated key contacts for their targeted market in Brazil. Their attendance generated immense industry interest and solidified partnerships with new distributors.
“The grant has been essential to our experience in Brazil. We got to showcase our products to potential dealers at the trade show,” said Sutton. “The trade show has given us plenty of connections, which have facilitated our expansion efforts in the country.”
As a result of a successful trade show, Tycon Systems continues to pursue opportunities in the country. They are currently projecting 20 percent export revenue growth for 2017, which they expect to increase exponentially in the next phases of growth in Brazil.
Looking back on their recent expansion, Sutton commented, “Combined, World Trade Center Utah, U.S. Commercial Service, Governor’s Office of Economic Development and EDCUtah are a business’ best-kept secret. They are invaluable for advice and consultation. If you listen to them, your chances for success are very high.”
WTC Utah offers several grant programs to help Utah companies expand their business into international markets. To learn more, and to sign up to be notified about 2018 grants, visit wtcutah.com/grants.