Run by UK Trade and Investment (UKTI) and UK music trade body BPI, each recipient of financial backing will be able to use the money towards marketing, promotion, tour support and overseas venue costs.
The fund was set up to help companies behind the careers of British music talent.
In this latest round companies working for artists, including Public Service Broadcasting and Kindness, have been awarded grants of between £5,000 and £30,000.
Geoff Taylor, BPI chief executive, said: ‘Digital music is global and that has increased the opportunities for British artists overseas. The fantastic success of Ed Sheeran, Sam Smith, Coldplay and One Direction around the world proves there is a strong appetite for British music, but some independent labels do not have the resources to promote an artist in every export market they might want to target.
The fund ‘helps to fill this gap and is giving a real boost to British music overseas,’ he added.
The MEGS was announced in September 2013 and has so far helped more than 70 UK music companies actively promote Britain’s most-promising musicians overseas. The next round of funding is open for applications on 2 March.
The full list of recipients includes:
Futuristic Polar Bears (Manchester)
Kate Tempest (London)
Mallory Knox (Cambridgeshire)
Philippa Hanna (Sheffield)
Kitty, Daisy & Lewis (London)
Public Service Broadcasting (London)
You Me At Six (Surrey)
Dan Croll (Liverpool)
Young Guns (London)