Small and medium enterprises (SMEs) will get an international boost through Market Readiness Assistance (MRA) grants to help your business go overseas.
Eligible SMEs will receive the following support:
From 1 April 2020 to 31 March 2023, up to 70% of eligible costs, capped at S$100,000 per company per new market, including:
- Overseas marketing (capped at S$20,000)
- Overseas business development (capped at S$50,000)
- Overseas market set-up (capped at S$30,000)
A new market refers to a target overseas country where the applicant company’s overseas sales have not exceeded S$100,000 in each of the past three years.
Each application is limited to one activity in one overseas market (e.g. entering a market or attending a trade fair)
The company should meet the following conditions:
- Business entity registration/formation in Singapore
- New market entry criteria, i.e. the target overseas countries where the applicant’s overseas sales have not exceeded S$100,000 in each of the past three years
- Has at least 30% local equity
- The annual sales of the company group must not exceed S$100 million, or the number of employees in the company group must not exceed 200
Click here for a full list of supportable activities.
Market Readiness Assistance (MRA) Grant Eligible Activities
OVERSEAS MARKET PROMOTION (Capped at $20,000 per new market)
Overseas marketing and PR activities1
Third-party costs incurred for: • Marketing and PR activities including launch of instore promotions, road shows, pop-up stores • Pitching fees 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 • Overall roadmap / communication plan of activities that have been completed • Invoices/receipts/bank statements for payment made to third-party vendor such as proof of payment for costs incurred
Participation in Overseas Physical and Virtual Trade Fairs NOT supported under LEAD International Fairs & Missions (LEAD)
Overseas Physical Trade Fairs Third-party costs charged by Event Organisers relating to: • Space rental (capped at 36 square metres) • Booth design and construction (capped at 36 square metres)
Proof of completion should include but not limited to the following: Overseas Physical Trade Fairs • Event write-up attached with corresponding materials, such as exhibitor listing, photographs of booth setup, publicity materials which reflects the company’s name • Invoices/receipts/bank statements for payment made to third-party vendor, such as proof of payment for the costs incurred
Virtual Trade Fairs Packaged fees charged by Event Organisers relating to: • Virtual Exhibition hall & Booth access • Collateral creation (EDMs, booth writeup) • Business Meeting / Matching sessions • Pitches/ Product launches / Speaking Slots • Webinar/ Conference • Post Event Analytics
Proof of completion should include but not limited to the following: Virtual Trade Fairs • Screenshots of exhibitor listing, publicity materials, virtual booths, virtual business meetings/matching sessions, post event analytics report product samples for virtual fairs (where available and/or applicable)
Third party costs relating to • Publicity (design and production of digital collaterals, promotion materials) for trade fairs and virtual fairs • Logistics costs for virtual fairs only (transportation of materials/samples overseas)
Proof of completion should include but not limited to the following: • Event write-up attached with corresponding materials, such as photographs of booth setup, publicity materials and exhibitors’ listing which reflects the company’s name • Invoices / receipts / bank statements for payment made to third-party vendor, such as proof of payment for the costs incurred
The intent of the overseas marketing and PR activities support is to help companies create brand visibility and raise awareness to potential overseas clients.
All Overseas Physical Trade Fairs and Virtual Trade Fairs supported under the Local Enterprise and Association Development (LEAD) Programme are excluded.
Employers who qualify for SkillsFuture Enterprise Credits (SFEC) are also eligible for additional subsidies under the scheme.
Send all claims with relevant supporting documents to us through the Business Grants Portal within three months from project end date.
For all claims, an independent auditor must verify the expenses. An audit grant fee, capped at S$500 or 70% of the audit fee will be given to companies who engaged an Enterprise Singapore-appointed auditor to verify the expenses.
All claims will be disbursed strictly on a reimbursement basis.
Application processing time
Please note that MRA processing time is approximately 8 to 12 weeks from submission of all required information.
The company must submit your application no earlier than six months from the project start date.
There are no application fees required for schemes offered by ESG.
The MRA Grant support level of up to 70% will be extended until 31 Mar 2023.
Connect with us
Bestar offers grant application services. To check on the grant application information, you may contact us here.