What makes a company eligible for an MRA grant?
A company that is incorporated or registered in Singapore, with at least 30% of the company’s stock owned by locals as well as having an annual sales turnover not less than S$100 million is eligible for Market Readiness Assistance grant. The company’s employment size must be less than 200 people and should be new to the international market (at country-level).
What qualifies as a new overseas market?
A new overseas market is where the company is expanding and where annual overseas sales in the previous three years have not exceeded S$100,000.
Can a company with an existing overseas presence or overseas sales apply for MRA support?
Companies who have previously benefited from MRA but have not exceeded S$100,000 in overseas sales for that market can continue to be supported throughout the enhancement period from 1 April 2020 to 31 March 2023. Companies that have used up their maximum S$100,000 in market support between April 1, 2020, and March 31, 2023, will no longer be eligible for MRA awards in that market.
Is there any limit on the number of times a company can apply for an MRA grant?
The number of times a company can apply for an MRA grant does not have any limit. This gives businesses the freedom to decide how quickly they want to enter the international market.
If a company has applied for other financial schemes from other governmental agencies, can they still apply for an MRA grant?
No, after receiving grant approvals from Enterprise Singapore or other agencies for the same qualified expenses or events, companies are not eligible to apply for the MRA grant.
Are sole proprietors and partnerships eligible to apply for MRA Grant?
Enterprise Singapore has shown interest in learning more about sole proprietorships and partnerships’ ambitions to expand internationally. On a case-by-case basis, applications will be evaluated.