This grant supports promising pre-revenue start up businesses to progress from proof of concept to a MVP stage of development.
Key information
- Status: Closed
- Grant amount: Up to $25,000
- Application opened: 1 June 2013
- Application closed: 28 November 2022
Program objective
The objective of the Minimum Viable Product (MVP) grant is to support promising pre-revenue startup businesses to progress from proof of concept to a MVP stage of development.
This program is funded and administered by Department of Enterprise, Investment and Trade.
Eligibility
Businesses may apply for funding to develop a MVP:
- to the stage of first revenue
- to a stage where feedback indicates the MVP is inadequate for the planned business model.
Who can apply
To be eligible for an MVP Grant, applicants must satisfy the following criteria:
- demonstrate completion of proof of concept (e.g. prototype completed)
- have an ABN registered in NSW and be based in NSW
- be at a pre-revenue stage
- hold intellectual property (IP) or rights to commercialise
- have a potential customer (end user which must be a business), or a channel to market (i.e. distributor that will on-sell the product)
- have a scalable solution that can be deployed to multiple customers
- demonstrate 80% of the development costs will occur in NSW
- demonstrate adequate matched funding has been secured for the project.
Applicants must also have matched funding of up to 50% of approved total development costs.
Who can't apply?
- Individuals.
What you can't apply for
The following will not be considered eligible for funding:
- solutions designed to improve internal business processes
- general business costs including sales, marketing, rent, travel, research, IP and legal costs
- project costs that are already the subject of another government grant, subsidy or financial assistance
- project costs incurred prior to an application being submitted (no retrospective funding will be awarded).
Only activities directly associated with development of the MVP will be supported.
Most recent recipients
What your application needs to include
To support your application, applicants must attach documented evidence of:
- the primary location (ABN registration) of nominated supplier(s) for the development of the solution
- matched funding secured for the project (in the form of a recent bank statement/s (preferred), letters of credit, or letters of commitment from investors or shareholders)
- a potential customer or channel to market that is willing to trial and provide feedback on the MVP upon completion including first revenue and/or recommendations on the MVP’s market adoption
- a business plan that demonstrates how the proposed solution is scalable
- applicant(s) CV that demonstrates experience in the relevant field and ability to commercialise new products or services
Include evidence of how your project meets the eligibility criteria.
| Criteria | Examples |
|---|---|
| 1. Economic benefits to NSW | Examples of economic benefits to NSW may include:
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| 2. Level of innovation | Examples of this include:
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| 3. Strength of the business model | Examples of a strong business model may include:
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| 4. Industry sector benefits | Examples of industry sector benefits may include:
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Criteria 1. Economic benefits to NSW Examples Examples of economic benefits to NSW may include:
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Criteria 2. Level of innovation Examples Examples of this include:
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Criteria 3. Strength of the business model Examples Examples of a strong business model may include:
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Criteria 4. Industry sector benefits Examples Examples of industry sector benefits may include:
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After the application is submitted
Successful applications will be decided by: The CEO of Investment NSW.
Applicants that are unsuccessful will be notified. Unsuccessful applications will not be allowed to resubmit for the same project unless they are invited to do so.
A new application for a different MVP can only be submitted once the applicant has been notified of the outcome of the previous application and, if a successful application, after the completion of the first MVP.
Support and contact
If you have any questions regarding this program, contact the grants and programs team at Investment NSW through our webform.