— In the latest episode of “Talking Trade,” Trade Acceptance Group Principal Bruce Glaub outlines the benefits of export credit insurance.
If an exporter isn’t paid by a client, the insurer will pay out a percentage of that unpaid amount, Glaub explained. That’s useful at the international level because exporters have fewer options for recouping their losses from outside the country, he said.
“Rather than what you do in the U.S., using the law maybe as your heavy hand, internationally, it’s great to use trade credit insurance,” he said. “That gives you the ‘stick,’ per say, if you need to collect from someone.”
Glaub also noted this type of policy can help exporters offer longer payment terms to their customers amid the ongoing supply chain delays. He said that’s helpful for customers, as they’re more likely to have received the shipment by the time the payment is due.
“The way it helps you, is you now have a longer term but it’s a protected term,” he said. “You have that guaranteed payment. So you know that, ‘Okay, I’m not going to get paid in 30 days but I’m definitely going to get paid in 90. And if I don’t, I have this insurance policy that’s going to pay me if something catastrophic happens.’”
He added those longer terms will likely be shortened in time as supply chains continue to untangle.
Watch the latest episode here: https://www.wisbusiness.com/2022/talking-trade-with-bruce-glaub-trade-acceptance-group/
“Talking Trade” is now available in audio form on Apple Podcasts and Google Podcasts. Subscribe and find more episodes here: https://www.wisbusiness.com/category/talking-trade/
— Georgia-Pacific and gener8tor have launched the third cohort of their 1915 Studios startup accelerator program with four early-stage companies.
This free 12-week program for tech startups is modeled on gener8tor’s gBETA program, which offers mentorship, coaching and other resources to help with developing prototypes, identify potential customers and more. It’s located at Georgia-Pacific’s Neenah Technical Center research and development facility.
Brian Davis, gener8tor program manager of 1915 Studios, says the partnership “aims to bring economic diversity and job growth” to the Neenah area.
“We are working to help establish tomorrow’s leading companies and support these startups in solving sustainability challenges,” he said in a release.
The companies in the latest cohort include:
*Celcy, which has developed a ”countertop robot” that combines a freezer, oven and autonomous components. The freezer portion can store up to five pre-made meals, which the user can select from a phone or other connected device for cooking. The appliance then moves the meal into the oven on its own and has it ready for the user at the selected time, according to a release.
*MiFood Tech, which has created a prototype autonomous cutting machine for use in kitchen settings. The company aims to help restaurants address labor shortages and boost profits by automating “the most repetitive prepping and cooking work” that’s typically handled by people.
*Adept Materials, which has a patented building material designed for improved durability and energy efficiency in construction. The company is also working with a partner business to develop licensed materials for applications in footwear and apparel, the release shows.
*SAVRpak, which manufactures products called sachets for removing excess moisture from within food containers. Per the release, these products can extend the shelf life for fruits and vegetables and improve the quality of hot delivery food.
See the release:
See an earlier story on the program: https://www.wisbusiness.com/2022/1915-studios-accelerator-recruiting-for-next-cohort/
— The Port of Green Bay has received an additional $10.1 million for an effort to develop the former Pulliam Power Plant into a new port facility.
That’s according to a release from the Brown County Port & Resources Recovery announcing the funding coming from the U.S. Department of Transportation. The county had previously gotten a $15 million grant from the state’s Neighborhood Investment Fund and a $1.1 million Wisconsin Department of Transportation Harbor Assistance Program grant for the project.
The county has also allocated $3.9 million in American Rescue Plan Act funds to the development effort, the release shows.
With the funding announced Friday, the port now has the majority of the funds needed for the project. Officials expect the design phase to be finished by the end of the year, with construction starting next year and wrapping up in 2025.
— Madison-based Cellular Logistics is getting a $337,000 federal grant through the National Institutes of Health.
The company recently announced the Phase 1 Small Business Innovation Research grant after receiving a $75,000 SBIR Advance grant earlier this year. A release shows the funds will be used to evaluate immune responses and blood vessel growth for a heart attack treatment product called the Cardiac Fibroblast Matrix.
Cellular Logistics CEO Alex Vodenlich says the research will explore the role of cell signaling mechanisms for the product, which promotes the repair of damaged heart tissues.
See more at Madison Startups: https://www.madisonstartups.com/cellular-logistics-earns-337k-sbir-grant/
— With this year’s open enrollment period kicking off Tuesday, state officials are touting Wisconsin’s individual health insurance market having the second-highest number of insurers among U.S. states.
Thirteen insurers are participating in Wisconsin’s individual health insurance exchange this year, according to a Kaiser Family Foundation report referenced in a release from the Office of the Commissioner of Insurance. Only Texas has more, with 15 insurers, the report shows.
The open enrollment period for 2023 runs through Jan. 15, but the federal HealthCare.gov site says customers should enroll by Dec. 15 to get coverage starting Jan. 1.
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#TOP STORIES#
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#TOPICS#
# AGRIBUSINESS
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– DHS board denies proposed budget amendments
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# MANUFACTURING
– See Supermoon Beer Co., which opens in Milwaukee’s Bay View neighborhood Friday
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Spectrum: Joins Sen. Tammy Baldwin to celebrate Wisconsin broadband network expansion projects
