The Client |
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Our client is a Singapore-based biomedical research and clinical trial solutions provider serving the pharmaceutical and medtech sectors. Since its incorporation in 2017, the company has experienced rapid growth—doubling in size and revenue year-on-year—while building a strong reputation for delivering high-quality support for clinical trials across the region. With deep expertise in regulatory strategy, trial site management, and medical monitoring, the client plays a pivotal role in accelerating market entry for emerging therapies and medical devices.
Backed by a healthcare-focused venture fund and with regional operations spanning Malaysia, Australia, and the Philippines, the company is now actively expanding its market footprint to support clients in Southeast Asia and Oceania. With over S$2 million in overseas revenue recorded in a recent financial year, the firm is strategically positioned as a high-growth player in Asia’s clinical research and biomedical services landscape.
Backed by a healthcare-focused venture fund and with regional operations spanning Malaysia, Australia, and the Philippines, the company is now actively expanding its market footprint to support clients in Southeast Asia and Oceania. With over S$2 million in overseas revenue recorded in a recent financial year, the firm is strategically positioned as a high-growth player in Asia’s clinical research and biomedical services landscape.
How RIC Helped |
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Grant Secured:
Real Inbound Consulting (RIC) successfully supported the client in securing three Market Readiness Assistance (MRA) grants to drive their overseas expansion efforts into the Philippines and Australia. The grants supported:
The total value of grant support amounted to over S$80,000, with Enterprise Singapore covering up to 80% of eligible costs under the MRA programme across all three categories of activities.
Scope of RIC’s Consulting and Advisory Services:
RIC worked closely with the client across all three expansion efforts to ensure seamless project planning and successful grant approval. Our involvement included:
Real Inbound Consulting (RIC) successfully supported the client in securing three Market Readiness Assistance (MRA) grants to drive their overseas expansion efforts into the Philippines and Australia. The grants supported:
- Business Setup in the Philippines, including legal entity formation and tax structuring
- Outsourced Business Development in the Philippines, via an Employer-of-Record (EOR) model
- Market Entry into Australia, including incorporation and strategic advisory services
The total value of grant support amounted to over S$80,000, with Enterprise Singapore covering up to 80% of eligible costs under the MRA programme across all three categories of activities.
Scope of RIC’s Consulting and Advisory Services:
RIC worked closely with the client across all three expansion efforts to ensure seamless project planning and successful grant approval. Our involvement included:
- Market Expansion Strategy and Entity Setup
- Advised on corporate structure, regulatory obligations, and legal incorporation through professional service partners in both Australia and the Philippines.
- EOR-Based Hiring and BD Operations
- Scoped out and managed an outsourced BD function through Deel in the Philippines, ensuring compliance with local employment regulations and setting KPIs for the appointed business development personnel.
- Vendor Evaluation and Cost Structuring
- Conducted due diligence on local vendors and professional services firms (including Carpo Law, AHC CPAs, and CharterNet), and developed financial projections aligned with grant compliance requirements.
- Implementation Planning and Deliverables Design
- Defined project milestones, deliverables, and reporting formats for each market to ensure smooth grant disbursement and audit-readiness.
- End-to-End Grant Application Management
- Led the full preparation and submission process on the Business Grants Portal (BGP), ensuring full compliance with Enterprise Singapore’s requirements and managing all post-approval documentation.
Outcomes |
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- Successfully established legal entities in both the Philippines and Australia to anchor the client's regional growth strategy
- Hired a dedicated in-market BD personnel under a fully compliant EOR model to drive client acquisition in the Philippines
- Projected overseas revenue growth of 8x over a four-year period for the Philippines market
- Initiated collaborations and feasibility scoping for new clinical trial projects in Australia, paving the way for future service offerings
- Enhanced regional credibility by demonstrating execution capability and market readiness through successful multi-market expansion
Throughout this journey, RIC worked hand-in-hand with the client, ensuring the project was not only fundable but also executable and aligned with long-term business goals. Our ability to understand both the science and the strategic roadmap of the client’s innovation was instrumental in delivering success.
This case exemplifies how RIC enables high-potential medtech innovators to bridge the gap between deep science and global commercialization. Our end-to-end consulting, grant expertise, and technical fluency make us the ideal partner for firms looking to turn breakthrough R&D into market-ready, globally scalable solutions.