Market Readiness Assistance (MRA)
- Up to 70% funding on eligible costs*.
- From 1 April 2020, the grant cap will be increased to S$100k per new market over three years till 31 March 2023. It covers:
- 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)
*Refer to "Critical Information" for more details.
You are:
- A Singapore SME looking to enter a new overseas market**.
You need to:
- Be registered or incorporated in Singapore;
- Have 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.
** New market entry criteria: target overseas country where the applicant has not exceeded S$100,000 in sales in each of the last three preceding years.
- There is no limit to the number of MRA applications a company can apply for. Companies can have the flexibility to determine their pace of entry into overseas markets.
- Limited to one activity (e.g. market entry, or participation in a trade fair) in a single overseas market per application. As FTA consultancy is a highly specialised field, companies may refer to ESG's list of pre-qualified consultants that offer FTA advisory services.
- Approved activity is supported for a maximum of 12 months.
- Companies can proceed to sign the contract with the consultant or third party vendor after submitting the application via the Business Grants Portal.
- Project commencement and completion dates must be in accordance to the project support period stipulated in the portal.
For more details, click here.
Note: As of 30 December 2020, Overseas Market Presence (OMP) will be supported under the Market Readiness Assistance (MRA) grant. Please refer here for more details.
Application Process:
- Sign-in to the Business Grants Portal (BGP) with your CorpPass1.
- Apply for MRA through the BGP.
- Applications must be submitted no earlier than 6 months of project start date.
Claims:
- All claims must be submitted within 3 months from project end date.
- All claims must be verified by an independently appointed auditor.
- If ESG appointed auditors are used, 70% of the audit fee (capped at $500) will be covered.
- All claims are strictly on reimbursement basis.
Note:
- Applications will not be accepted if the following events took place before the application date:
1. Signed an engagement letter with the third party consultant,
2. Made the first payment to the third party consultant,
3. Commenced the project with the third party consultant.
1. No CorpPass Account? Refer to the CorpPass guide for instructions on setting up an account.
For more details: Market Readiness Assistance (MRA)
For Frequently Asked Questions: MRA-FAQs
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