NSW MVP (Minimum Viable Product) Ventures Fund

Overview of Competition

The MVP Ventures Program supports startups and innovative small to medium enterprises (SMEs) in New South Wales (NSW) by providing grants to drive the commercialisation of highly innovative and new products. The program targets products within Technology Readiness Levels (TRL) 3 to 9, assisting them in progressing along the TRL scale to attract large-scale private investment.

Applications for the 2024-2025 round have closed. Applications for the 2025-2026 round open on 1 July 2025.

Fund Details

The program aims to:

• Support businesses throughout the pre-market development and commercialisation pathway of their innovative products in NSW.
• Attract and retain commercialisation activities within NSW.
• Enable products to advance along the TRL scale, facilitating the attraction of significant private investment.

Eligibility

To be eligible, applicants 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 of no more than A$1 million for each of the three financial years prior to the application.
• Employ no more than 20 full-time equivalent (FTE) employees, including founders.

Additionally, the project must:

• Relate to the pre-market development and commercialisation pathway of the product.
• Progress the product along the TRL scale between levels 3 and 9.
• Align with one of the NSW government Industry Development Framework priority industries.
• Secure a minimum 50% cash contribution (no in-kind) for the project.
• Be completed within 12 months of funding, with a minimum project period of three months.
• Undertake funded activities in NSW.
• Demonstrate the necessity of government support because of insufficient alternative funding sources.
• Include only eligible expenditure.