Market Readiness Assistance Grant (MRA) for online marketing to benefit Singapore SMEs
To help Singapore SMEs to expand into new international markets, International Enterprise Singapore is offering the Market Readiness Grant (MRA) Grant. The grant supports pre-determined activities focused on helping SMEs with overseas set-ups, business partner identification, and overseas market promotion/marketing.
The overseas market promotion activities that are eligible for the MRA grant include overseas marketing and PR activities; online marketing activities, and participation in overseas trade fairs/ exhibitions that are not supported under the International Marketing Activities Programme (iMAP).
Online marketing activities covered under MRA Grant include the third party costs incurred by the Singapore SME for search engine marketing (paid search advertising) and/or search engine optimization (SEO); social media marketing campaigns; and listing/subscription fees on global online retail/e-commerce platforms with international reach with e-fulfillment, payment and logistics capabilities.
Extent of funding support with the MRA Grant
The MRA Grant provides up to 70% of the eligible cost for applicable activities, subject to a maximum of S$20,000 per company per fiscal year. Each SME can submit a maximum of two applications per fiscal year, between April 1 and March 31 of the following year.
Criteria for a Singapore SME to qualify for MRA Grant
The MRA Grant is available only for Singapore-registered companies with their Global headquarters anchored in Singapore. The company must be a SME with an annual turnover of less than S$100 million per annum as per most recent audited accounts.
Companies are expected to apply and obtain approval before they proceed with projects to be considered for the Grant. They should submit applications not earlier than 6 months and no later than 15 working days from the start date of any project for which this Grant is being applied for.
Complete details of the MRA Grant is available on the IE Singapore website.
If you are a Singapore SME and looking to grow your business beyond Singapore shores, the MRA grant is an excellent opportunity to leverage the benefits of online marketing. For a no-obligation consulting on how online marketing can help your business with international expansion, contact us now. We look forward to being your reliable online marketing partner!
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