If you are a Singapore Small and medium enterprise (SME) and looking to expand your business overseas, you may apply for the Market Readiness Assistance (MRA) grant, awarded by Enterprise Singapore.
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The MRA grant will cover up to 80% of eligible costs, capped at S$100,000 per company per new market* until 31 March 2022. After which, it will revert to a 70% support level till 31 March 2023.
The total ceiling support of S$100,000 is divided across the three MRA pillars as follows:
Overseas market promotion (capped at S$20,000)
Overseas business development (capped at S$50,000)
Overseas market set-up (capped at S$30,000)
What is needed from you?
Details of website including URL and web content uploaded
Web analytics report
Invoices/ receipts/ bank statements for payment made to third-party vendor as proof of payment for the costs incurred
Am I eligible?
You are qualify if you are a:
Global HQ in Singapore
SMEs with annual turnover of less than S$100 million per annum based on the most recent audited report
Where to apply?
Please note that retrospective applications will not be accepted. An application is deemed as retrospective if any of the following occurred prior to receiving approval from IE Singapore. Applicant has:
Made a payment including initial deposit to the partner; or
Signed the contractual agreement/rental agreement/purchase order with the partner or;
Commenced the project with the partner
Please apply and obtain approval before the appointment of consultants or commencement of projects.
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*A new market refers to a target overseas country whereby the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years.
** The above grant information is for reference only and maybe updated from time to time without advance notice. For details, please refer to https://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/market-readiness-assistance-grant
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