What International Marketing Activities Programme (iMAP) Partners Should Know About
Overseas missions and trade fairs help companies to reach global customers, to get their views on their service and products so that they can learn more about the overseas market. Trade Associations and Chambers (TACs) leading overseas missions and trade fairs can tap the International Marketing Activities Programme (iMAP) to bring SMEs on board to access more markets. Then, organizations taking an interest in iMAP affirmed exercises will get the support of up to half or 70% of qualified centre costs (contingent upon which nation the occasion is held in) – including presentation rental space, stall development, reputation and reasonable or mission consultancy costs.
What is the Eligibility?
TACs keen on sorting out iMAP exercises must satisfy all the accompanying criteria:
- Central station is consolidated and situated in Singapore
- Enrolled with Registry of Societies (ROSES) or Accounting and Corporate Regulatory Authority (ACRA)
- Characterized as a non-benefit organisation
- Exercises or capacities are in accordance with Enterprise Singapore’s central goal.
- Show a concentration towards internationalization
- Secretariat with sufficient staff, budgetary assets and experience to select and sort out the proposed exercises
The sorting out TAC is in charge of all costs that they identify with the movement. Therefore, the TAC will look for repayment for qualified costs from Enterprise Singapore for the benefit of taking an interest organization.
For Companies (For information)
Organizations incorporated or enlisted in Singapore and have at least three of the underneath centre business capacities/exercises working inside Singapore are qualified to appreciate iMAP bolster.
- Market development and planning
- Logistics and shipping management
- Research, development and design functions
- Manufacturing and other value-added activity
- Business and investment planning
- Banking, financial and treasury functions
Those companies who are eligible to participate in iMAP, they may support business missions or international trade fairs. They can also apply for Double Tax Deduction for Internationalisation Scheme (DTDi). But the conditions is that they will only allow applying for expenses NOT covered by the iMAP grant (e.g. travel and accommodation) for up to two representatives per company.
Then, Enterprise Singapore won’t be mindful to taking part organizations and merchants on the occasion the arranging TAC defaults in making instalment to them.
Explain Applying Process
The Consolidated Exercise is an annual exercise when TACs apply for iMAP funding for activities that fall within the following periods. In addition, this exercise usually opens for applications from end November to early December yearly.
- Trade Fairs: 1st April – 30th September (of the following year)
- Business Missions: 1st April – 31st March (of the following year)
- TACs unable to submit their applications should contact Enterprise Singapore for clarification.
For Companies (For information)
Organizations inspired by taking part in iMAP upheld exercises can allude to Enterprise Singapore’s Events Calendar. They also contact the individual TAC coordinators for the most recent rundown of iMAP bolstered exercises.
International Marketing Activities Programme (iMAP) and Claims
iMAP operates on a reimbursement basis. Therefore, funding will be disbursed through TACs to eligible companies.