Designed to accelerate the international expansion of Singapore SMEs, the Market Readiness Assistance grant (or MRA grant) supports pre-determined activities focused on helping you in overseas set-ups, identification of business partners and overseas market promotion.
What is funded:
Online marketing activities for overseas market promotion.
These include third-party costs incurred for:
- Search engine marketing and/ or search engine optimisation (SEO)
- Social media marketing campaigns
- Online advertising campaigns
- Listing/ subscription fees on global online retail/ e-commerce platforms with international reach and with e-fulfilment, payment and logistics capabilities
How much is funded?
With each eligible claim, the reimbursement extends up to a maximum of 70% of the cost incurred, capped at $20,000 per company per fiscal year.
Each fiscal year starts on 1st April and end on 31st March the following year. Every eligible company can file up to 2 claims per year.
Deliverables required:
Similar to other Government Grants such as the Innovation Capability Voucher (ICV) by SPRING, IE Singapore requires companies to furnish proof of completion before approval of claims. These include:
- 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
Who is Eligible:
To qualify, you will need to be:
- Global HQ in Singapore
- SMEs with annual turnover of less than S$100 million per annum based on the most recent audited report
How to Apply:
Download the form from http://www.iesingapore.gov.sg/Assistance/Market-Readiness-Assistance/Financial-Assistance/Market-Readiness-Assistance-Grant
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:
a) Made a payment including initial deposit to the partner; or
b) Signed the contractual agreement/rental agreement/purchase order with the partner or;
c) Commenced the project with the partner
Please apply and obtain approval before the appointment of consultants or commencement of projects.
To find out more, please contact us at +65 6844 3935 or drop us an email at biz@conversion-hub.com
