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Market Readiness Assistance (MRA) Grant

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Published by SPRING Singapore
on 05 Jun 2015

Designed to accelerate the international expansion of Singapore SMEs, the Market Readiness Assistance Grant supports pre-determined activities focused on helping you in overseas set-ups, identification of business partners and overseas market promotion.

Purpose of the Scheme            

Companies can apply for financial assistance for pre-determined activities focused on overseas market set-ups, identification of overseas business partners and overseas market promotion. 

Eligibility Criteria                                                   

All Singapore-based small and medium enterprises (SMEs) that have:

  • Global HQ anchored in Singapore
  • Annual turnover of less than S$100 million per annum based on the most recent audited report

Funding Support

  • 70% of the eligible cost for activities listed below, capped at S$20,000 per company per fiscal year
  • Maximum of two applications per fiscal year, starting on 1 April and ending on 31 March the following year
  • Limited to one activity (e.g. market entry, or participation in a trade fair) per application

OVERSEAS MARKET SET-UP

 

Supportable Activities

Deliverables

Market Entry

Advisory, legal and documentation expenses relating to:
  • Name Search
  • Intellectual Property (IP) search and application
  • Filing and registration for sales/representative offices or equity entity
  • Implementation of recommended tax structures
  • Import and export licenses
  • Drafting of franchising, licensing, agency, distributorship and joint venture agreements
    (limited to only the first set of such agreements)
Proof of completion includes but is not limited to:
  • Relevant filing documents submitted to authorities
  • Copies of certificates, permits and licenses obtained

Business Matching

Third-party costs incurred to identify potential business partners and/or customers (B2B) including the following:

  • Licensees/franchisees
  • Agents and distributors
  • Joint venture partners

Detailed report on the profile of the potential customers/ partners for the company in the selected market and business matching outcomes

OVERSEAS MARKET PROMOTION

 

Supportable Activities

Deliverables

Overseas marketing and PR activities

Third-party costs incurred for:
  • Marketing and PR activities including launch of in-store promotions, road shows, pop-up store executed via an appointed Marketing and/or PR agency
  • at overseas business/ trade conferences
Proof of completion should include but not be limited to the following:
  • Event write-up attached with corresponding materials such as photographs and publicity materials
  • Invoices/ receipts/ bank statements for payment made to third party vendor as proof of payment for the costs incurred

Participation in overseas trade fairs NOT supported under International Marketing Activities Programme (iMAP)

Third-party cost incurred for:
  • Space rental
    (capped at 36 square metres)
  • Booth design and construction
    (capped at 36 square metres)
Proof of completion should include but is not limited to the following:
  • Event write-up attached with corresponding materials such as exhibitor listing, photographs and publicity materials
  • Invoices/ receipts/ bank statements for payment made to third-party vendor as proof of payment for the costs incurred

To Apply

Retrospective applications will not be accepted*. Please submit the application through Business Grants Portal (BGP) before proceeding with any of the below:

  • Making a payment including initial deposit
  • Signing of contractual agreement or purchase order
  • Commencement of the project

Companies may submit their applications, six months before at the earliest, and no later than 10 March of each financial year ending on 31 March. Any application submitted after 10 March will be regarded as application for the new financial year.

* Exception: Trade Fair applications may be made retrospectively (e.g. applicants may sign agreements, begin preparations, etc.). However, trade fair applications must be submitted at least one working day before the actual event.

For More Info

Market Readiness Assistance Grant

International Enterprise (IE) Singapore
230 Victoria Street #10-00
Bugis Junction Office Tower
Singapore 188024
Email IE Singapore

Last Modified Date: 06 Jul 2017



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