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  • My friends and I run a technology start-up and we are ready to showcase our product to the global market in order to get more investments and potential customers. We work with a start-up incubator that has encouraged us to participate in trade shows overseas but we lack the funds. Are there any schemes that can help us?

With a small domestic economy, going overseas is crucial to the success of most companies, however, this is often a costly affair, especially for new start-ups.

The Market Access Incubation Programme (MAIP) is part of IE Singapore's Market Readiness Assistance scheme and complements the efforts of incubators seeking to help their portfolio start-ups access overseas markets and networks.

This can be done by supporting start-ups participating in overseas business missions and fairs organised by government-approved incubators.

Events supported under MAIP should be start-up-centric and include some or all of the following activities:

- Business-matching with potential investors, partners or customers; and

- Showcasing of products or prototypes to potential investors, partners or customers.

Note that consumer fairs and existing events supported under IE Singapore's iMAP programme will not be supported under MAIP.

MAIP supports up to 70 per cent of eligible third-party expenses incurred by start-ups depending on region, capped at $10,000 for each start-up per trip.

Eligible expenses include renting exhibition space, building a stand, publicity, consultant, networking and pitching fees, and logistics.

Airfare and accommodation can be subsidised by up to 50 per cent.

Funding will be disbursed through the approved incubators to start-ups when they participate in approved business missions and fairs.

Each start-up is allowed to send up to two participants per MAIP-supported trip, up to a maximum of two trips in any financial year (April to March).

Up to 50 per cent of the participating start-ups for the trip can consist of non-incubated start-ups.

To qualify for MAIP, the event must be held overseas and not profit-driven.

The incubator leading the event must be approved by the following government agencies: Spring Singapore, Media Development Authority, National Research Foundation and Infocomm Development Authority of Singapore.

Participating start-ups must have less than five years of incorporation and be based in Singapore, and 50 per cent of the participating start-ups must be incubated by an approved incubator.

The incubators can approach their respective government agencies for application to the programme.

 

Last Updated on : 27 Sep 2014

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