Market Readiness Assistance (MRA) Grant

The Market Readiness Assistance (MRA) from IE Singapore aims to accelerate the international expansion of local companies. The MRA grant subsidies 70% of the eligible cost for overseas set-ups, identification of business partners and overseas market promotion, capped at $20K/year.

Key things to take note:
  1. Your global HQ must be anchored in Singapore
  2. You must have an annual turnover of less than S$100 million per annum based on the most recent audited report
  3. Retrospective applications will not be accepted. Therefore, before applying for this grant, do not make payment (or deposit), signing of any legal agreements and/or commence on the project

Eligible costs:
  1. Third-party costs incurred for:
    • Market research or market feasibility studies
    • Advisory on legal, tax, labour, import and export regulations in the target market, and recommending on the best mode of entry for the company
  2. 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 licences
    • Drafting of franchising, licensing, agency, distributorship and joint venture agreements (limited to only the first set of such agreements)

  3. Third-party costs incurred to identify potential business partners and/ or customers (B2B) including the following:
    • Licensees/ franchisees
    • Agents and distributors
    • Joint venture partners

  4. 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
    • Speaking at overseas business/ trade conferences for the purpose of pitching products/ services, technology and industry capabilities

  5. Third-party costs incurred for:
    • Search engine marketing and/ or optimisation
    • 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

  6. Third-party cost incurred for:
    • Space rental (capped at 36 square metres)
    • Booth design and construction (capped at 36 square metres)

You may wish to visit their website here or call them at at 1800-IESPORE (1800-437 7673).

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