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Supporting Singapore-based enterprises

Market Readiness Assistance Grant

The MRA grant was set up to accelerate overseas expansion for Singapore SMEs, supporting pre-determined activities focused on helping you in overseas set-ups, identification of business partners (business matching) and overseas market promotion.

1. What does the grant provide?

Eligible SMEs will receive the following support

  • Up to 70% of eligible costs, capped at 20K per company per fiscal year that covers:
    • Maximum of two applications per fiscal year, starting 1 April and ending 31 March the following year
    • Limited to one activity (e.g. market entry, or participation in a trade fair) per application

Note: The MRA Grant support level of up to 70% will be extended until 31 Mar 2023.

2. Eligibility

  • The business entity is registered/incorporated in Singapore
  • At least 30% local shareholding
  • Group annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees

3. What can Morpheus Labs do for you?

If you are looking to build your presence internationally, Morpheus Labs provides subsidized assistance under the area of business matching. (Participation in overseas trade fairs is NOT supported under LEAD International Fairs & Missions (LEAD IFM)).

Our partner network is active in global distribution and innovations with leading technologies (not limited to blockchain), collaborating with the right partners and customers, and stepping into new market opportunities.

Enterprise Development Grant

The Enterprise Development Grant (EDG) was set up to help Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas. Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient.

1. What does the grant provide?

  • A maximum support level will be raised from 70% to 80% from 1 April 2020 to 31 December 2020.
  • For firms that are most severely impacted by COVID-19, the maximum support level can be further raised to 90% on a case-by-case basis.
  • Unionized enterprises and e2i partners under the Labour Movement are eligible to receive an additional 10% funding support, subject to NTUC e2i’s assessment.

2.Eligibility

  • Business entity is registered/incorporated in Singapore.
  • At least 30% local shareholding.
  • Group annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees.

3.What can Morpheus Labs do for you?

Are you exploring new areas of growth in your business? Connect with us and let us discuss how your business can be enhanced through automation, product development, or process redesign, even through the tough times.