Expand globally with Market Readiness Assistance (MRA Grant)

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:

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Market Readiness Assistance (MRA) Grant For Small And Medium Enterprises

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.

FUNDING SUPPORT:

  • Up to 70% of eligible cost, capped at S$100,000 per company per new market* from 1 April 2020 to 31 March 2023 that covers:
  • International market promotion (capped at S$20,000 per fiscal year)
  • Overseas business development (capped at S$50,000)
  • International market set-up (capped at S$30,000)
  •  

QUALIFICATION CRITERIA ON BUSINESS GRANTS PORTAL:

  • Business entity is registered/incorporated in Singapore
  • New market entry criteria, i.e. target overseas country whereby the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years
  • At least 30% local shareholding
  • Group Annual Sales Turnover of not more than S$100 million; OR Company’s Group Employment Size of not more than 200 employees
How can we help?

We currently support three main types of projects:

Overseas Market Promotion

Supportable Activities:
  1. Overseas marketing and PR activities (promotions, road shows, trade conferences, etc)
  2. Online marketing activities (SEO optimisation, online campaigns, etc)
  3. Participation in overseas trade fairs (space rental, booth design, etc)
POSSIBLE SCOPE OF WORK:
  • Event write-up attached with corresponding materials such as photographs and publicity materials
  • Invoices/receipts/bank statements for payment made to third-party vendor such as proof of payment for cost incurred

Overseas Business Development

Supportable Activities:
  1. Business matching (identifying business partners, joint venture partners, agents and distributors, etc)
  2. Market entry (name search, Intellectual Property (IP) search and application, drafting of franchising, licensing, agency, distributorship and joint venture agreements, etc)
  3. In-depth FTA consultancy (assessment to identify opportunities, analysis of supply chain, application procedures for Customs rulings with issuing authority, etc)
POSSIBLE SCOPE OF WORK:
  • Detailed profile report of potential customers/partners for the company in the selected market and business matching outcomes
  • Relevant filing documents submitted to authorities
  • Report on assessment of financial and recommendation
  • Assessment/Analysis report

Overseas Market Setup

Supportable Activities:
  1. Market entry (name search, Intellectual Property (IP) search and application, drafting of franchising, licensing, agency, distributorship and joint venture agreements, etc)
  2. In-depth FTA consultancy (assessment to identify opportunities, analysis of supply chain, application procedures for Customs rulings with issuing authority, etc)
POSSIBLE SCOPE OF WORK:
  • Relevant filing documents submitted to authorities
  • Report on assessment of financial and recommendation
  • Assessment/Analysis report
Why should you work with us?

You need a management consultant with the Enterprise Singapore-recognised certification

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.

We offer end-to-end support for your project

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.

We’ve been delivering results for our clients since 2014 — here’s what some of them have to say:
Market Readiness Assistance MRA Grant

FAQs

Eligibility Criteria is as follows:

  • Business entity that is registered/incorporated in Singapore
  • At least 30% local shareholding
  • Company’s Group Annual Sales Turnover of not more than S$100 million, or Companys’ Group Employment Size of not more than 200 workers (Medium Enterprises / SMEs)
  • New to target global markets 

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:

  1. S$20,000 for Overseas Markets’ Promotion per fiscal year
  2. S$50,000 for Overseas Businesses’ Development
  3. S$30,000 for Overseas Market Set-up

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’.

Submit your interest

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.