Market Readiness Assistance (MRA) Grant

Objectives:

• To help companies take their first steps into international markets.
• To defray costs associated with market set-up and expansion activities.
• To encourage Singapore enterprises to explore and establish a presence in new markets.

Target Beneficiaries:

• Singapore-registered companies.
• Companies seeking to expand internationally for the first time or enter new markets.
• SMEs looking to grow their overseas business footprint.

Key Features:

• Funding support of up to 70% of eligible costs, capped at SGD 100,000 per company per new market.
• Eligible activities include overseas market set-up, identification of business partners, participation in trade fairs, and market promotion.
• Covers costs such as overseas market set-up, identification of business partners, participation in trade fairs, and market promotion.
• Supports a wide range of sectors and industries.

Application Process:

• Companies must submit an application through the Enterprise Singapore website.
• Applicants need to provide a detailed business plan and justification for the overseas expansion.
• Approval is based on the viability and potential of the overseas market opportunity.
• Upon approval, companies can claim reimbursement for eligible expenses incurred.

The MRA Grant is a strategic initiative to boost Singapore companies' global competitiveness by easing the financial burden of international market expansion and enabling them to seize new business opportunities abroad. It is a vital resource for SMEs aiming to grow beyond domestic borders with structured support from the government.