Market Readiness Assistance (MRA) Grant: Funding Your Global Expansion

Introduction to MRA

The Market Readiness Assistance (MRA) grant helps Singapore companies expand internationally by co-funding overseas market expansion activities. Administered by Enterprise Singapore, MRA is an essential tool for businesses ready to go global.

MRA at a Glance

| Aspect | Details | |--------|---------| | Support Rate | Up to 50% of eligible costs | | Maximum Amount | Up to S$100,000 per company per year | | Eligible Markets | Overseas markets only | | Processing Time | 2-4 weeks typical |

Who is Eligible?

Company Requirements

Your business must:

1. Be registered and operating in Singapore
2. Have at least 30% local shareholding
3. Employ at least 3 local employees
4. Have Group annual sales turnover ≤ S$100 million

Ready for Internationalization

MRA applicants should have:

• Established domestic operations
• Product/service market fit
• Resources for overseas expansion
• Clear international strategy

What Activities Does MRA Cover?

1. Overseas Business Development

Market Entry Support:

• In-market consultation services
• Business matching services
• Market assessment studies
• Entry strategy development

Legal and Professional Services:

• Legal advisory for market entry
• Accounting and tax consultation
• IP registration overseas
• Regulatory compliance advisory

2. Market Promotion

Marketing Activities:

• Trade fair participation
• Business missions
• Product launch events
• Trade show exhibitions

Marketing Materials:

• Collateral localization
• Website development (for market)
• Product adaptation
• Packaging for overseas

3. Market Setup

Establishment Activities:

• Company incorporation support
• Office setup assistance
• Licensing and permits
• Initial staff recruitment

How Much Can You Claim?

Funding Structure

MRA provides up to 50% funding with annual caps:

Per Activity Category: | Category | Annual Cap | |----------|------------| | Third-party consultancy | S$100,000 | | Market promotion | S$20,000 | | Market setup | S$30,000 |

Overall Annual Cap: S$100,000 per company

What's Covered vs. Not Covered

Covered:

• Third-party professional fees
• Trade fair booth costs
• Travel (for approved activities)
• Marketing collateral production

Not Covered:

• Internal staff costs
• Entertainment expenses
• General marketing (not market-specific)
• Ongoing operational costs

The Application Process

Step 1: Preparation

Before applying:

1. Define Target Market

   • Country/region selection
   • Market research completion
   • Entry strategy development
   • Resource allocation

2. Activity Planning

   • Specific activities identified
   • Timeline established
   • Budget estimated
   • Vendors shortlisted

3. Documentation

   • Company profile updated
   • Financial statements prepared
   • Supporting documents ready

Step 2: Get Quotations

For each activity:

• Obtain detailed quotations
• Ensure vendor is credible
• Compare multiple options
• Document selection rationale

Tools from IS-AI can help analyze market opportunities before committing to expansion activities.

Step 3: Submit Application

Via Business Grants Portal:

1. Log in with CorpPass
2. Select MRA program
3. Complete application form
4. Upload supporting documents
5. Submit for review

Key Information Required:

• Company profile
• Target market details
• Activity descriptions
• Cost breakdowns
• Expected outcomes

Step 4: Approval and Implementation

After approval:

1. Sign acceptance letter
2. Implement activities as proposed
3. Maintain detailed records
4. Document all expenses

Step 5: Claims Submission

Within 6 months of activity completion:

1. Submit claim via portal
2. Attach all invoices
3. Provide proof of activity
4. Include supporting evidence

Maximizing Your MRA Success

Strategy 1: Plan Comprehensively

Coordinate multiple activities:

• Market study → Trade mission → Business matching
• This approach maximizes impact and efficiency

Strategy 2: Choose Markets Strategically

Consider:

• Market potential
• Competitive landscape
• Entry barriers
• Resource requirements

Priority markets by IS-AI analysis:

• ASEAN (growing middle class)
• China (scale opportunities)
• India (emerging market)
• US/Europe (premium markets)

Strategy 3: Combine with Other Programs

EDG + MRA:

• Use EDG for strategy development
• Use MRA for market execution

PSG + MRA:

• Use PSG for digital tools
• Use MRA for overseas marketing

Strategy 4: Leverage Enterprise Singapore Resources

Available support:

• Overseas Centres network
• Trade associations
• Business missions
• Market intelligence

Common Application Mistakes

1. Poor Activity Definition

Problem: Vague or overly broad activity descriptions

Solution: Be specific about what, where, when, and expected outcomes

2. Unrealistic Budgets

Problem: Costs not aligned with market rates

Solution: Research thoroughly and provide market-rate quotations

3. Missing Documentation

Problem: Incomplete supporting evidence

Solution: Prepare comprehensive documentation package

4. Post-Activity Claiming Issues

Problem: Unable to substantiate claims

Solution: Keep detailed records throughout implementation

Case Studies

Case 1: Tech Company Indonesia Entry

Background: Singapore software company expanding to Indonesia

MRA Activities:

• Market study: S$15,000
• Business matching: S$10,000
• Trade fair: S$8,000
• Legal setup: S$12,000

Total Costs: S$45,000 MRA Funding (50%): S$22,500 Outcome: Successfully established Indonesia operations

Case 2: F&B Brand Japan Launch

Background: Local F&B brand targeting Japan market

MRA Activities:

• Market assessment: S$20,000
• Trade show participation: S$15,000
• Localization consultancy: S$25,000

Total Costs: S$60,000 MRA Funding (50%): S$30,000 Outcome: Secured 3 distribution partnerships

Pro Tips from Experienced Applicants

Before Application

1. Research your target market thoroughly
2. Validate demand before committing
3. Build relationships with in-market partners
4. Ensure sufficient runway for expansion timeline

During Implementation

1. Document everything meticulously
2. Track expenses against budget
3. Maintain regular communication with partners
4. Adapt strategy based on market feedback

After Completion

1. Submit claims promptly
2. Analyze results against expectations
3. Plan follow-up activities
4. Share learnings across organization

Resources for International Expansion

Enterprise Singapore

• Global network of overseas centres
• Market intelligence reports
• Trade mission programs
• Business matching services

Industry Associations

• Singapore Business Federation
• SME Centre consultancy
• Industry-specific associations

Private Sector

• Market entry consultants
• Legal and accounting firms
• Logistics partners
• Technology providers like IS-AI

Conclusion

The MRA grant provides crucial support for Singapore companies pursuing international growth. With up to S$100,000 in annual funding, MRA can significantly reduce the financial burden of overseas expansion.

Success requires careful planning, comprehensive documentation, and strategic execution. Start with thorough market research, develop clear entry strategies, and leverage all available resources.

---

This article was contributed by IS-AI, specialists in AI-powered business intelligence supporting Singapore companies in their international expansion journeys.