MVP Ventures Program NSW – Round 2

Purpose and Program Overview

The MVP Ventures Program NSW is a competitive grant initiative. It supports startups and innovative small to medium-sized enterprises (SMEs). The program helps them commercialise new products or processes. The goal is to move innovations from early-stage development to market-readiness.

The program’s objective is to attract and keep commercialisation activities in NSW. It helps companies progress their products from Technology Readiness Level (TRL) 3 to TRL 9. This prepares them for private investment.

The NSW Government has committed $12 million in grant funding for the program until 2029. Up to $3 million is available in the current financial year. This investment is key to fostering innovation-driven growth in NSW.

Key Grant Details of the MVP Ventures Program NSW

• Grant amount or funding range: $20,000 to $75,000
• Application open and close dates: Opens 24 November 2025; closes 21 December 2025 (may close early if funds are allocated)
• Eligible industries or business types: Innovative startups and SMEs commercialising new products or processes
• Required co-contributions: Minimum 50% cash co-contribution for Stream 1; minimum 25% for Stream 2
• Location/state/territory applicability: New South Wales (NSW)

Priority Sectors

MVP Ventures Program is open to a broad range of sectors. Projects should align with the NSW Government’s Industry Policy Missions. These include net zero and energy transition, housing, and local manufacturing.

Funding Scope

MVP Ventures Program has two streams:

• Stream 1 (General): This stream offers grants from $20,000 to $50,000. It is for general businesses. The grant can cover up to 50% of eligible project costs.
• Stream 2 (Targeted Support): This stream offers grants from $20,000 to $75,000. It is for women-owned, regionally-based, or Aboriginal/Torres Strait Islander majority-owned businesses. The grant can cover up to 75% of eligible project costs.

The projects must last a minimum of 3 months and complete within 12 months from funding approval.. They must advance the product or process along the TRL scale between levels 3 and 9. At least 80% of expenditure must happen in NSW.

Eligibility Criteria

• Business structure: Australian incorporated company or Aboriginal/Torres Strait Islander Corporation.
• Location: Headquartered in NSW.
• Turnover: Aggregated turnover of $400,000 or less in each of the last three financial years.
• Employees: 10 or fewer full-time equivalent (FTE) employees, including founders.
• Other: Holds an active ABN, has an Australian financial institution account, and owns the intellectual property or commercialisation rights.

• Ineligible entities include sole traders, trusts, subsidiaries, tax-exempt organisations, and government agencies.

Eligible Activities and Expenses

The grant funds pre-market development and commercialisation activities that advance the product along TRL 3–9, including:

• Wages for project staff (capped at 50% of the grant).
• Consultant fees (capped at 50% of the grant).
• Direct prototyping materials and equipment.
• Patent filing or regulatory compliance costs (up to $7,500).
• Prototyping and piloting studies
• Demonstrating commercial viability to customers or investors
• Completing development of an innovative product
• Demonstrating the product in an operational environment

Eligible expenses cover wages (capped at 50% of grant), contractors/consultants (capped at 50%), materials, patent/IP costs (up to $7,500), and limited domestic travel. At least 80% of expenditure must go to NSW-based suppliers.

Assessment Process

This is a competitive grant program. Applications are assessed by an expert panel. Key evaluation criteria include:

• Innovation: The product or process must be new and address a market need.
• Commercialisation: The project must show commercial viability.
• Deliverability: The project plan, team capability, and risks are assessed.
• Innovation and novelty of the product.
• Commercial viability and market potential.
• Deliverability, including team capability, milestones, and timeline.
• Alignment with NSW Industry Policy and benefits to the state.
• Value for money.

Applications are funded based on merit until the round’s funds are exhausted. The Minister for Innovation, Science and Technology makes the final decision.

Recent Program Updates

For the 2025-2026 year, the program introduced Stream 2 targeted support to reduce financial barriers for under-represented founders. It shifted to a fully competitive, round-based process across multiple rounds per year. The NSW Government increased overall commitment to $12 million over four years, with up to $3 million available in 2025-2026.

Application Tips

• Verify all eligibility criteria, including turnover, FTE count, and NSW expenditure thresholds
• Prepare required documents early, such as accountant declarations, financial statements, pitch deck, project budget, and evidence of co-contribution
• Clearly demonstrate innovation, commercial potential, deliverability, and NSW economic benefits in the application
• Submit via SmartyGrants well before the closing date, as rounds may close early

Where to Get Help

Consider consulting with a professional grant specialist, such as Pattens Group. We offer initial assessments to review your business’s eligibility and evaluate how well your project aligns with the grant’s objectives. You can also visit the NSW Department of Enterprise, Investment and Trade website for application forms, guidelines, and further assistance.