Grants up to $50,000 for New South Wales businesses to commercialise innovative products and processes by helping progress their development and readiness for private investment.
Current status of program
CLOSED
The next round will open for applications on 1 July 2024.
To register your interest, please contact us here.
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What is the MVP Ventures Program (MVPVP)?
The MVP Ventures (the Program) is designed to support startups and innovative small and medium enterprises (SMEs) in the product lifecycle between early-stage research and mature investment opportunities.
MVPVP level of support
Grants
- $25,000 to $50,000
- Maximum 50% of total project costs
Co-contribution
- Minimum 50% of total project costs
MVPVP important dates
- Notification of (EOI) within 15 business days of an EOI Application submission. Successful applicants will be invited to submit a Detailed Application.
- Notification of Detailed Application Outcome within 30 business days of the Detailed Application submission.
- Applications for the 2023-24 closed on 5 April 2024.
- The next round will open for applications on 1 July 2024.
- Register your interest here with GrantHelper.
MVPVP objectives
The objective of the program is to:
- support businesses to increase the commercialisation of innovative products and processes in New South Wales
- attract and retain commercialisation activities in New South Wales
The Program targets new products or processes within Technology Readiness Level (TRL) 3 – 9 to help them move along the TRL scale and enable them to attract large-scale private investment.
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.
Projects eligible for MVPVP support
To be eligible, your project must:
- be related to the commercialisation of your product or process
- involve progressing your product or process along the 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% 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 (see below)
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.
Eligible projects do not include:
- basic research or technical experiments
- developing a product or process for internal use only (i.e., not for sale)
- commercialising the next version or iteration of an existing product or process where updates and changes are minor
See the guidelines for full details of project eligibility requirements.
Expenditure eligible for MVPVP support
Funding will only be provided to projects based on eligible expenditure that is non-recurring and directly related to the development and commercialisation of your product or process, including:
- wages
- consultant fees
- direct prototyping materials
- equipment
- other direct costs including:
- patent filing costs for new IP
- travel costs
Ineligible expenditure includes:
- costs incurred prior to funding agreement
- all forms of advertising and the production of promotional material
- financing costs, including interest
- capital expenditure for the purchase of assets
- the purchase or upgrade/hire of software
- rental, renovations and utilities
- costs relating to the hire and lease of equipment
- insurance costs
- debt financing
- losses on other projects or contracts
- depreciation of plant and equipment
- fines and penalties
- unreasonable compensation for officers and employees
- entertainment expenses
- donations/sponsorships/gifts
- routine operational expenses
- costs related to preparing the grant application, preparing any project reports, and preparing any project variation requests
See the guidelines for full details of eligible and ineligible expenditure.
Other MVPVP important details that you will need to know
Organisations eligible for MVPVP support
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:
- 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.
You are not eligible for program funding if you are:
- insolvent
- an individual
- an unincorporated association
- a trust
- a partnership receiving 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 the list of organisations eligible for funding
- currently receiving funding under the MVP Ventures Program.
See the guidelines for full details of applicant eligibility requirements.
MVPVP assessment criteria
1. InnovationÂ
- Clearly demonstrate that your product or process is a new or improved product or process whose technological characteristics are significantly different from before
2. CommercialisationÂ
- Demonstrate a well-defined problem or opportunity
- Demonstrate evidence of commercial viability (e.g., size of market, value created, competitive advantage)
3. DeliverabilityÂ
- Clearly detail the project outcomes, key activities, milestones, project costs and risks
- Outline the expected progress of your product from the current TRL (project commencement) to the proposed TRL at the project completion date
- Have project team with the capacity and appropriate management, commercial, professional, and technical expertise to deliver the project
See the guidelines for full details of the assessment criteria.
How do I get the MVPVP?
You should read and understand the guidelines.
You need to ensure you are eligible for the funding. Applicants that do not meet all the eligibility criteria outlined above will not be considered.
Successful applicants will demonstrate:
- an innovative product or process validated at between TRL 3 and 9 that requires program support to progress
- a well-defined problem or opportunity
- evidence of the project’s commercial viability based on a sound assessment of the project’s value, market size and competitive advantage
- a robust project design, including key milestones and deliverables
- the necessary organisational capability and capacity to progress the project along the TRL scale to the agreed extent and timeline
Information to prepare for the MVPVP application
The following documents must be provided with your application:
- a pitch deck (maximum 10 slides) or a link to an online video clearly demonstrating how your product or process meets the innovation criteria (maximum 3 minutes)
- evidence of financial turnover (a completed accountant declaration and financial statement including profit and loss)
- evidence of less than or equal to 20 FTE (a completed accountant declaration).
See the guidelines for full details of information requirements.
Applying for MVPVP
Applications are submitted online via the SmartyGrants portal.
Register your interest here with GrantHelper to explore your alignment with this grant and how we can assist you to increase your chances of success.
MVPVP resources
I need help applying for grants
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