Success story: Global Valve Technology
EMDG grant takes the 'pressure' off exporting for Australian valve company
Global Valve Technology is an innovative Australian company involved in researching and developing commercial applications for its range of valve technologies across multiple industries. These applications include industrial valves, sports ball valves, tyre valves, and water valves.
As a supplementary R&D service to its clients, GVT provides creative and innovative Intellectual Property to generate a commercial return on investment by offering licensing agreements, joint ventures, trade sales and long-term product supply contracts.
GVT has received 3 grants under the Federal Government’s Export Market Development Grants (EMDG) scheme. With the help of the EMDG grant, Global Valve Technology has been able to take their Valve Technology internationally, allowing it access to the world’s top manufacturers.
"With help under EMDG GVT visited major Valve Companies Worldwide, before finally settling on a license arrangement with America's largest manufacturer of these valves. All US and Canadian homes now have the opportunity to be connected to their water supply via our Australian designed, GVT Backflow Prevention Valve", said Rod Wakefield, CEO of GVT.
Mr Wakefield believes the EMDG scheme has had a very positive impact on GVT’s ability to increase its export earnings and that without it GVT would not have been able to achieve such success in overseas markets.
The EMDG grant recently paved the way for an agreement with a leading Indian Manufacturer of Sports Balls Worldwide.
"Since signing this Agreement our Sports Ball Valve has been showcased at the ISPO Munich Trade Show in February 2009 where it was very well received, giving us further leverage when negotiating with customers in the European Market. With all this under our belt, it’s easy to see anything is achievable for GVT", Mr Wakefield said.
The EMDG scheme is administered by Austrade and assists export-focused small and medium sized Australian businesses to enter into export and become sustainable exporters by providing partial reimbursement of certain export promotion expenses.