The Program supports startups and innovative SMEs in the product lifecycle between early-stage research and mature investment opportunities to drive the commercialisation of highly innovative products and processes.
Key information
- Status: Closed
- Grant amount: From $25,000 to $50,000
- Application opened: 4 December 2023
- Application closed: 5 April 2024, 5:00 pm
Program objective
The 2023-24 MVP Ventures grant program has closed, and Investment NSW is no longer accepting applications. The 2024-25 MVP Ventures grant program will open for applications on 1 July 2024.
Please monitor the Investment NSW website leading up to 1st July for the updated 2024-25 MVP Ventures Program Guidelines. These guidelines may include changes, so a thorough review is recommended before applying.
This program is administered by Premier's Department.
This program is funded by Department of Enterprise, Investment and Trade.
Eligibility
Who can apply
To be eligible, your business must:
- have an Australian Business Number (ABN)
- be non-tax exempt
- be headquartered in NSW
- be one of the following entity types:
- a company incorporated in Australia; or
- an incorporated trustee on behalf of a trust in Australia; and
- hold intellectual property (IP) or rights to commercialise.
You must also:
- not be an entity or a subsidiary of a group of companies that has an Aggregated Turnover that is more than A$1 million for each of the 3 financial years prior to the lodgement of your application; and
- not be an entity or a subsidiary of a group of companies that has more than a total of 20 FTE.
Types of projects funded under this grant
To be eligible, your project must:
- be related to the commercialisation of your product or process
- involve progressing your product or process along the Technology Readiness Level (TRL) scale between 3 and
- be aligned to one of the following NSW Government Industry Development Framework priority industries:
- Agriculture and agrifood
- Resources
- Defence and aerospace
- Clean energy and waste
- Medical and life sciences
- Digital systems and software
- International education
- Visitor economy
- Advanced manufacturing
- Biotechnologies
- Digital technologies.
- demonstrate a minimum 50% cash contribution
- have a Validating Entity that will qualify and evaluate the quality, functionality and intended behaviours of the product or process
- be completed within 12 months of funding (the “Project Period”)
- undertake funded activities in NSW
- demonstrate why sufficient funding for the entire project cannot be accessed from alternative sources and that the project would not proceed in NSW without government support
- include only Eligible Expenditure.
Who can’t apply
You are not eligible if you are:
- insolvent
- an individual
- an unincorporated association
- a trust
- a partnership
- receiving or have received NSW Government or federal assistance from another program for the same purpose
- a federal, state, territory or local government agency or body (including government business enterprises)
- any organisation not included under "Who is eligible for funding?”
- currently receiving funding under the MVP Ventures Program.
Example projects
- prototyping and piloting studies
- demonstrating the commercial viability of an innovative product or process to a customer or investor
- completing the development of an innovative product or process
- demonstrating a product or process in an operational environment.
Most recent recipients
What your application needs to include
The Program has a two-stage application process, consisting of an EOI and a detailed application.
Each applicant, as part of an application response, must confirm that they meet the eligibility criteria.
Applicants that do not address the eligibility criteria in full may be excluded from the application process at the department's discretion.
After the application is submitted
Successful applications will be decided by: The Department Secretary or Deputy Secretary
The Program has a two-stage application process, consisting of an Expression of Interest and a Detailed Application stage.
Support and contact
If you have any questions regarding this program, please contact Investment NSW