MRA Grant for Taiwan: A Smart Expansion Strategy for Singapore SMEs Entering the Taiwanese Market

As one of Asia’s most technologically advanced economies with a growing appetite for quality goods and services, Taiwan offers a promising opportunity for Singapore SMEs looking to expand abroad. Taiwan's strategic location, stable business environment, and strong trade relations with Singapore make it a natural choice for companies seeking to establish a regional presence.

To support this expansion, Enterprise Singapore offers the Market Readiness Assistance (MRA) Grant for Taiwan, a co-funding scheme that helps Singapore-based SMEs offset market entry costs. This article explores how your business can use the MRA Grant Taiwan to build a sustainable presence in the Republic of China.

Why Taiwan is an Ideal Market for Singapore SMEs

Before diving into how the MRA Grant works, it’s important to understand why Taiwan is such an attractive market for internationalisation.

1. Technology-Driven and Digitally Mature

Taiwan has one of the most advanced digital infrastructures in Asia. With high internet penetration, tech-savvy consumers, and strong manufacturing capabilities, it's an excellent market for digital, consumer tech, and service-based offerings.

2. Affluent and Educated Consumers

Taiwanese consumers value quality, innovation, and international standards. Singaporean brands, known for their professionalism and quality, resonate well with local consumers.

3. Pro-Business Environment

Taiwan offers a transparent legal system, a robust intellectual property regime, and efficient customs processes. These are critical for SMEs venturing into a foreign market.

4. Strong Bilateral Trade Relations

Singapore and Taiwan enjoy healthy trade ties under the Singapore–Taiwan Economic Partnership Agreement (ASTEP), which supports reduced tariffs, stronger protection for investors, and enhanced trade facilitation.

What is the MRA Grant for Taiwan?

The Market Readiness Assistance (MRA) Grant for Taiwan is a government-backed scheme that co-funds market entry activities for Singapore SMEs. The grant provides up to 50% support, capped at S$100,000 per new market per fiscal year, helping SMEs reduce the risks and costs of expanding overseas.

Eligible activities span across promotional campaigns, business development, and operational setup.

Who is Eligible for the MRA Grant Taiwan?

To apply for the MRA Grant for Taiwan, your business must:

• Be registered and operating in Singapore

• Have at least 30% local shareholding

• Have an annual turnover below S$100 million or fewer than 200 employees

• Not have already received MRA funding for Taiwan in the same financial year

All applications must be approved by Enterprise Singapore before any activities begin. Retroactive claims are not allowed.

What Activities Can Be Funded Under the MRA Grant Taiwan?

The MRA Grant supports a wide range of activities essential to successful internationalisation. These are grouped into three categories:

1. Overseas Market Promotion

• Participation in trade fairs, business missions, and exhibitions in Taipei, Taichung, or Kaohsiung

• Running targeted digital marketing campaigns for Taiwanese consumers

• Engaging PR and media services to build brand awareness in Taiwan

2. Overseas Business Development

• Business matching with potential Taiwanese distributors, agents, or franchisees

• Lead generation and appointment setting with local partners

• Market research and competitor analysis conducted by in-market consultants

3. Overseas Market Set-Up

• Legal, tax, and business advisory for company registration in Taiwan

• Intellectual property (IP) protection and trademark registration

• Human resource advisory services to assist in hiring local employees
  

MRA Grant Taiwan: Funding Caps

The S$100,000 grant ceiling is distributed across the three core activity categories as follows:

Activity Category	Maximum Support Amount
Market Promotion	Up to S$20,000
Business Development	Up to S$50,000
Market Set-Up	Up to S$30,000

Each category comes with its own sub-requirements and documentation expectations, so it’s essential to plan accordingly.

How to Apply for the MRA Grant for Taiwan

Here’s a step-by-step walkthrough to help you successfully apply and utilise the MRA Grant Taiwan:

Step 1: Planning

• Verify your eligibility criteria

• Choose your vendors (some services, like business matching, may require ESG-recognised vendors)

• Gather quotes, proposals, and detailed scopes of work

Step 2: Submission

• Log into the Business Grants Portal (BGP) using CorpPass

• Select “Market Readiness Assistance Grant” and choose “Taiwan” as the market

• Complete the application and upload supporting documents

Step 3: Await Approval

• Enterprise Singapore reviews the application

• Begin your project only after receiving written approval

Step 4: Execute and Monitor

• Carry out approved activities exactly as described

• Maintain documentation including marketing outputs, contracts, reports, and proof of payment

Step 5: Submit Claim

• Once your project is completed, compile all documents and submit the claim via BGP

• Enterprise Singapore will process and reimburse the approved costs
  

Mistakes to Avoid During Application

Many SMEs face delays or rejections because of the following common mistakes:

• Starting activities before approval – No reimbursement will be provided for pre-approval work

• Inadequate documentation – Missing invoices, performance reports, or deliverables can void a claim

• Exceeding category caps – Plan your budget to stay within the stated limits

• Using unqualified vendors – Ensure all vendors meet ESG’s requirements

Avoiding these pitfalls is critical to ensuring a smooth application and successful claim process.

Case Studies: How SMEs Use MRA Grant Taiwan

Case Study 1: EdTech Expansion

A Singapore-based education platform expanded into Taipei using MRA funding for market research, digital advertising in Mandarin, and local partnership building. The campaign generated strong interest from schools and parents.

Case Study 2: Health Supplements Brand

A wellness SME participated in a health trade fair in Kaohsiung with MRA support for booth design, marketing materials, and business matching with Taiwanese health stores and pharmacies.

Case Study 3: Software-as-a-Service (SaaS) Platform

A tech SME used the grant to localise its user interface for the Taiwanese market, hire a Taiwanese consultant for user testing, and incorporate a local entity in Taichung.

These examples show the flexibility of the MRA Grant for Taiwan, helping companies across various industries enter with lower cost and higher confidence.

Benefits of Engaging a Consultant for Taiwan Market Entry

A consultant with experience in both MRA processes and Taiwanese business norms can add substantial value:

• Ensures application is aligned with MRA guidelines

• Recommends suitable vendors and market entry strategies

• Provides cultural and regulatory insights specific to Taiwan

• Supports documentation and claim submissions

For SMEs unfamiliar with Taiwan, working with a consultant can reduce risks and improve the efficiency of expansion efforts.

Which Industries are Best Suited for Taiwan?

The Taiwanese market holds great promise for SMEs in the following industries:

• Education and EdTech – Demand for high-quality and bilingual enrichment is strong

• Healthcare and Wellness – Taiwanese consumers are health-conscious and willing to spend on supplements and alternative therapies

• IT and SaaS – Taiwan’s advanced digital infrastructure supports adoption of business solutions

• F&B – Taiwanese diners are receptive to unique and international cuisines, especially from Singapore

• Consumer Lifestyle Products – Home and lifestyle brands offering quality and innovation perform well

By aligning your products with local preferences and trends, your SME can find a profitable niche in Taiwan.

Conclusion: Unlock Taiwan’s Potential with MRA Grant Support

The MRA Grant for Taiwan is a strategic tool that empowers Singapore SMEs to confidently expand into a dynamic and tech-savvy market. With up to S$100,000 in funding, businesses can explore, market, and set up operations in Taiwan with reduced risk and improved resource allocation.

Whether you’re launching a product, building strategic alliances, or incorporating a local entity, the MRA Grant Taiwan is designed to support your international growth in one of Asia’s most advanced economies.