MVP Ventures Grant

The MVP Ventures Program supports startups and innovative SMEs during the critical phase between early-stage research and readiness for mature investment, by providing grants that accelerate the commercialisation of highly novel and innovative products.

Applications for Round 3 open July 1st 2025.

Objectives.

The MVP Ventures Program is designed to stimulate innovation-led economic growth in New South Wales by supporting the development and commercialisation of emerging technologies. Specifically, the program aims to:

  • Support startups and innovative small to medium-sized enterprises (SMEs) through key stages of their product or process development, helping them progress from proof-of-concept to market readiness;

  • Facilitate the retention and expansion of commercialisation activities within NSW, encouraging high-growth businesses to establish and scale locally;

  • Accelerate the advancement of novel products or processes across Technology Readiness Levels (TRLs) 3 to 9, enabling businesses to de-risk their technology and become investment-ready.

This program targets innovations that are technically validated but require further development to attract significant private sector capital.

Who is eligible for funding?

To be eligible for funding under the MVP Ventures Program, applicants must:

  • Hold an active Australian Business Number (ABN)

  • Be non-tax exempt

  • Be headquartered in New South Wales (NSW)

  • Maintain a bank account with an Australian financial institution

  • Be a company incorporated in Australia

  • Hold the relevant intellectual property (IP) or have the legal rights to commercialise the product or process in question

Additionally, your company must:

  • Have an aggregated turnover of no more than A$1 million in each of the three financial years prior to submitting the application

  • Employ no more than 20 full-time equivalent (FTE) staff, including founders

To qualify for funding under the MVP Ventures Program, your project must meet a range of criteria that ensure alignment with the program’s goal of supporting innovative product development and commercialisation within New South Wales.

Your project must:

  • Be focused on the pre-market development and commercialisation of a product or process

  • Be progressing along the Technology Readiness Level (TRL) scale between TRL 3 and TRL 9

  • Be aligned to and intended for commercialisation within one of NSW’s priority industries, as outlined in the NSW Government Industry Development Framework:

    • Agriculture and Agrifood

    • Resources

    • Defence and Aerospace

    • Clean Energy and Waste

    • Medical and Life Sciences

    • Digital Systems and Software

    • International Education

    • Visitor Economy

If your project aligns with a Core Enabling Technology, it must also be directly linked to one of the above priority industries. These enabling technologies include:

  • Advanced Manufacturing

  • Biotechnologies

  • Digital Technologies

Funding and Delivery Requirements

To be considered, your project must also:

  • Secure a minimum 50% cash co-contribution from the applicant or other non-government sources (in-kind contributions are not accepted)

  • Be delivered within a project period of 3 to 12 months

  • Be undertaken entirely within New South Wales

  • Include only Eligible Expenditure, such as wages, prototyping costs, testing, and consultant fees

  • Demonstrate that:

    • Alternative sources of funding are not available for the full project

    • The project would not proceed in NSW without support from this grant

Examples of Eligible Projects

The program typically supports projects that involve:

  • Prototyping and pilot studies

  • Demonstrating commercial viability of a new product or process to potential customers or investors

  • Finalising development of an innovative product or process

  • Operational trials of a new product in real-world conditions

Is Your Project Eligible for the MVP Ventures Program?

Eligible Expenditure

Successful applicants will receive funding that covers up to 50% of eligible project expenditure, with the remaining contribution to be provided by the applicant. Funding is strictly limited to eligible costs incurred within New South Wales and must relate directly to the pre-market development and commercialisation of your innovative product or process.

Eligible Expenditure May Include:

  • Salaries and wages for personnel directly involved in the project

  • External consultant or contractor fees

  • Materials used for prototyping and pilot production

  • Equipment specifically used for R&D or commercialisation trials

  • Patent application costs or regulatory compliance activities

  • Domestic travel expenses essential to the delivery of the project

Note: Only materials and labour costs purchased from third parties and used directly in the project are considered eligible. Indirect or overhead costs are not covered.

At GWN Consulting, we help you accurately identify and document eligible expenses to maximise your claim and ensure compliance with program requirements.

Your Application, Our Expertise.

MVP Ventures Program applications are assessed on a non-competitive, first-come, first-served basis, meaning funding is allocated in the order applications are received, provided all eligibility and documentation requirements are met.

Given this, early submission is critical. Delays could mean missing out on valuable funding, even if your project is otherwise eligible.

At GWN Consulting, we specialise in helping startups and innovative businesses navigate the MVP application process from start to finish. We work with you to:

  • Assess your project’s eligibility and alignment with the program

  • Prepare a clear and compelling application

  • Maximise your chances of securing funding quickly and successfully

Get in touch with us today to book a call and find out how we can support your application.

Frequently Asked Questions

  • Investment NSW (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.

  • Yes, new or startup businesses can apply if they meet the eligibility criteria.

  • Eligible projects could include:

    • 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.

  • To be eligible under this Program, you must provide a 50% cash co-contribution towards the costs of the proposed project. Your project should only include Eligible Expenditure and cannot use in-kind (non-cash) contributions as matched funding.

    For example, if an applicant requests an MVP Ventures grant of $25,000 (excl. GST) and the total cost of the proposed project is $50,000 (excl. GST), the applicant will need to co-contribute $25,000 in cash.

  • No, only expenses incurred within NSW are eligible. Costs related to overseas labour, testing, or development cannot be claimed.

  • Assessing your Technology Readiness Level (TRL) is a key step in determining your project’s eligibility for the MVP Ventures Program, which supports innovations between TRL 3 and TRL 9. To assess your TRL:

    • Start by identifying the most recent milestone your project has achieved, such as proof-of-concept, prototype testing, or field validation.

    • Use the TRL Calculator provided by the NSW Government to map your current status to one of the nine defined levels.

  • To be eligible, you must be an NSW-based, incorporated company with:

    • An active ABN

    • No more than $1 million aggregated turnover in each of the last 3 financial years

    • Fewer than 20 full-time equivalent (FTE) employees

    • The IP or rights to commercialise the innovation

  • The MVP Ventures Program follows a two-stage application process:

    1. Expression of Interest (EOI):
      Submit a brief overview of your project, its TRL stage, alignment with priority industries, and estimated costs. EOIs are assessed on a rolling basis.

    2. Detailed Application:
      If your EOI is successful, you’ll be invited to submit a full application with a project plan, budget, supporting documents, and proof of your 50% cash co-contribution..