The NSW Government’s MVP Ventures grant program is designed to support startups and SMEs in the product lifecycle between early-stage research and mature investment opportunities.
The Department of Enterprise, Investment and Trade will provide up to $3 million per annum until 30 June 2027. The minimum grant amount is $25,000 and the maximum grant amount is $50,000, and these funds will need to be matched by the business.
To be eligible, you 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;
- 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;
- not be an entity or a subsidiary of a group of companies that has more than a total of 20 FTE.
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.
Applications for Round 1 can be submitted between 4 December 2023 and 30 April 2024.
If you would like to know more about this or any other government incentives in Australia, please get in touch to arrange a discussion.
