Deadline: 28 February 2025
The Minimum Viable Product (MVP) Ventures Program is supporting startups and innovative SMEs in the product lifecycle between early-stage research and mature investment opportunities, through grants to drive the commercialisation of highly innovative and new products.
Objectives
- The objective of the Program is to:
- support businesses throughout the pre-market development and commercialisation pathway of their innovative products in NSW
- attract and retain commercialisation activities in NSW
- The Program target new products within Technology Readiness Level (TRL) 3 – 9 to help them move along the TRL scale and enable them to attract large-scale private investment.
Funding Information
- Grant amount is available from $25,000 to $50,000.
Eligible Projects
- To be eligible, your project must:
- be related to the pre-market development and commercialisation pathway of your product
- involve progressing your product or process along the Technology Readiness Level (TRL) scale between 3 and 9
- be aligned to and marketed within one of the following NSW Government Industry Development Framework priority industries
- have secured a minimum 50% cash contribution (no in-kind) for the project
- be completed within 12 months of funding, minimum project period is 3 months
- 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 apply?
- To be eligible, your business must:
- have an active Australian Business Number (ABN)
- be non-tax exempt
- be Headquartered in NSW
- have an account with an Australian financial institution
- be a company incorporated in Australia
- hold intellectual property (IP) or rights to commercialise
- have an Aggregated Turnover that is no more than A$1 million for each of the three financial years prior to the lodgement of your application, and
- have no more than a total of 20 FTE (including Founders).
Who can’t apply?
- You are not eligible if you are:
- insolvent
- an individual
- an unincorporated association
- a trust
- a partnership
- joint applicants
- receiving or have received NSW Government or federal assistance from another program for the proposed project
- a federal, state, territory or local government agency or body (including government business enterprises)
- currently receiving funding under the MVP Ventures Program.
For more information, visit NSW.
