MVP Ventures Program – Australia

Objectives

• The objective of the Program is to:
  • support businesses to increase the commercialization of innovative products and processes in NSW
  • attract and retain commercialisation activities in NSW
• The Program is designed to support businesses throughout their commercialisation journey and innovative firms who successfully complete projects funded under the Program are permitted to reapply for additional funding to make further progress along the TRL scale.

Program Funding

• The Department of Enterprise, Investment and Trade (the Department) will provide up to $3 million per annum for the Program to 30 June 2027.
• The minimum grant amount is $25,000 and the maximum grant amount is $50,000.

Eligible Projects

• 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 9
  • 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 per cent 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
  • 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 to apply, your business must:
  • have an Australian Business Number (ABN)
  • be non-tax exempt
  • be headquartered in NSW
  • have an account with an Australian financial institution
  • 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 three 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.

For more information, visit Department of Enterprise, Investment and Trade.