Up to 80% of eligible costs using MRA grant, capped at S$100,000 per company per new market from 1 April 2020 to 31 March 2022
In Proud Support of:
Singapore encourages local businesses, especially medium enterprises and SMEs, to expand globally. International Enterprise Singapore (IE Singapore), a government agency has been set up to help Singapore incorporated companies establish a global presence through overseas expansion. The government launched the Market Readiness Assistance (MRA) Grant in 2015 to provide funding to companies who wish to internationalise and grow.
We currently support three main types of projects:
A necessary criteria to apply for the Market Readiness Assistance (MRA) Grant, which our consultants fulfil. As Registered Management Consultants from the Institute of Management Consultants (Singapore), we embrace high standards of ethical and professional conduct, so you can be rest assured that your project is in good hands.
MRA Grant application may seem like a complicated process. That’s why we’ll be there to guide you throughout the entire process — from the initial project planning and proposal, to grant application, project delivery, and submission of claims.
Eligibility Criteria is as follows:
This is defined as a new overseas country that the company is expanding to, where its annual overseas sales in the country has not exceeded S$100,000 in each of the preceding three years.
Businesses that have previously benefited from Singapore’s Market Readiness Assistance (MRA) Grant, but whose global sales for that market has not exceeded S$100,000, can continue to be supported by this government grant during the enhancement period of 1st April 2020 to 31st March 2023.
Businesses that have used up the maximum S$100,000 support for a particular market between 1stApril 2020 and 31stMarch 2023 will not be eligible for any more MRA grants for that market.
There is no limit to the number of Market Readiness Assistance (MRA) Grant applications that a company can apply. This is to allow Singapore’s companies the flexibility to determine their pace of entry into the overseas market. MRA grant
The MRA grant support for FTA consultancy scope is accessible to local SMEs. If the applicant company manufactures overseas, the consultant will advise the company on the relevant FTAs and help the company assess the potential benefit of leveraging on the FTAs, including those that Singapore is not a member of.
The S$100,000 grant cap is applicable over the enhancement period of 1 April 2020 to 31 March 2023, comprising activity sub-caps of:
The grant cap and support level of S$100,000 is applicable to each unique entity/company over the enhancement period. Enterprise Singapore will review the applications based on applicant company’s internationalisation plans. Different applicant companies with similar business registration details (including nature of business, address, shareholder/directorship, etc.) will be treated as connected enterprises and subjected to the cumulative grant ceiling of S$100,000 over the enhancement period.
No, we do not allow both companies to apply under one application. Each company can apply for one activity in a single application.
Enterprise Singapore seeks to understand the overseas expansion plans for sole proprietors and partnerships. Applications will be assessed on a case-by-case basis.
Yes, eligible companies may apply for support under both of Singapore’s EDG and MRA grant as long as it is not for the same scope of work/services/activities supported.
Companies can proceed to sign the contract with the third-party consultant/vendor after submitting the MRA application via Business Grants Portal. Project commencement and completion dates must be in accordance to the project support period stipulated in the Business Grants Portal.
MRA Grant applications must be made 6 months before the start of the project/activity at the earliest.
For a list of expenses NOT supported in the scope, check out this list here under ‘Applications’.
The maximum support period for an approved activity is 12 months and companies can take up to a maximum of 3 months to submit its claims upon completion of the activity. Companies with valid reasons may request for an extension from Enterprise Singapore via the BGP before the project end date. The request will be subjected to approval.
For all claims, the companies must appoint an Enterprise Singapore auditor to verify the eligibility, authenticity and accuracy of the items listed in the Statement of Claim. Companies can be eligible for an audit fee grant, capped at S$500 or the prevailing maximum support level of the audit fee as stated in Annex 1 of the Letter of Offer in the Business Grants Portal, whichever is lower.
For a list of documents required, check out this list here under ‘Claims’.
Fill in the form if you’d like our certified consultants to guide you on you Market Readiness Assistance (MRA) Grant application, or contact us here.
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