MVP Ventures Program NSW – Round 3

Purpose and Program Overview

The MVP Ventures Program NSW – Round 3 is designed to help NSW-based businesses progress innovative products, services or processes towards commercialisation, with a focus on moving from proof-of-concept through to a minimum viable product and early market validation. The program aims to increase the commercialisation of innovation in New South Wales and to attract and retain commercialisation activities, particularly where they support high-growth, technology-enabled ventures.

The program sits within the NSW Government’s broader Future Economy Fund, which is allocating approximately $10 million per year to MVP Ventures over several years as part of a $703.4 million commitment to support innovative, high-growth businesses across priority sectors. It plays a structural role in bridging early-stage funding gaps by supporting projects that demonstrate strong innovation, clear market need and a credible pathway to scaling and investment readiness.

Key Grant Details

• Grant amount: Typically between $20,000 and $75,000 per project, covering up to 50–75% of eligible project costs depending on round settings.
• Application opening date (Round 3): 9 March 2026, 9:00 am.​
• Application closing date (Round 3): 5 April 2026.​
• Eligible applicants: NSW-based startups, scaleups and SMEs developing innovative products, services or processes with strong commercialisation potential.
• Eligible industries: Broad range of sectors, with priority for key NSW industry focus areas (see below).
• Co-contribution: Applicant co‑funding required; grants commonly cover up to around 50–75% of eligible costs, with the applicant funding the balance in cash.
• Jurisdiction: Projects and commercialisation activities must be located in New South Wales, with applicants required to have or establish a NSW presence.

Priority Sectors

The MVP Ventures Program prioritises projects in sectors including agriculture and agrifood, resources, defence and aerospace, clean energy and the clean economy, waste and circular economy, medical and life sciences, and digital technologies. These sectors are aligned with NSW economic development and industry policy missions, particularly in emerging high‑value, knowledge-intensive industries.

Projects outside these sectors may still be considered if they demonstrate strong innovation, commercialisation potential and clear economic benefits to NSW. However, applications that align with the identified priority sectors are more likely to be considered strategically aligned.

Funding Scope

Round 3 provides grants in the range of approximately $20,000 to $75,000 per project, with the specific amount linked to the scale, milestones and budget of the proposed commercialisation activities. The grant typically supports a defined project rather than general operating expenditure, with funding released in milestones subject to satisfactory progress and evidence of expenditure.

The program is structured around a single commercialisation stream rather than multiple discrete streams (such as separate feasibility or capital works streams). However, it covers a broad range of activities along the commercialisation pathway, from prototype development to early customer trials. Projects are usually expected to be delivered within a timeframe of up to around 12 months, with applicants required to present a realistic schedule and TRL (technology readiness level) progression over the project period.

Eligibility Criteria

• Applicant must be a business entity (such as a company or eligible incorporated structure) with an Australian Business Number (ABN); sole traders and certain not‑for‑profit entities may be ineligible unless they meet program requirements.​
• Applicant must be based in NSW or able to demonstrate that the project’s commercialisation activities and benefits will occur primarily in New South Wales.
• The business must be developing a new or significantly improved product, service or process with clear innovative and technological characteristics.​
• The project must be at an eligible stage of development (beyond basic concept, with evidence of feasibility and a clear pathway to an MVP or commercial product).
• Applicants must demonstrate access to the required co‑contribution funding and confirm that in‑kind contributions will not be used to meet matched funding obligations.
• The applicant must be financially solvent and able to complete the project, with adequate governance, financial and management capability.​
• Applicants must comply with all relevant laws and regulations and maintain appropriate insurances for the proposed activities (such as public liability and workers’ compensation where applicable).​
• GST registration requirements apply in line with NSW grant contracting practices, with GST treatment detailed in funding agreements.​

Eligible Activities and Expenses

The program supports project activities directly related to developing and commercialising an innovative product, service or process, including:

• Wages and salaries for staff working directly on the project, including technical and leadership staff whose effort can be clearly identified and measured.
• Consultant and contractor fees for specialist expertise, such as engineering, product design, commercialisation advisory, IP strategy or market development support.​
• Project materials and inputs required for prototype development, testing, validation and refinement.
• Patent filing expenses and regulatory compliance costs that are necessary for the project (excluding trademarks).
• Reasonable domestic travel costs associated with undertaking the project, up to specified caps.

Routine operational expenses such as rent, standard office IT, general legal and accounting fees, marketing unrelated to the project, and costs for preparing the grant application or reporting are generally ineligible. Applicants must ensure that all claimed costs fall within the defined eligible expenditure categories and are incurred at arm’s length from related parties.

Assessment Process

MVP Ventures uses a staged application process, typically comprising an initial Expression of Interest followed by a detailed application for shortlisted or eligible projects. Applications are assessed against published eligibility criteria before moving to merit assessment, and may be assessed on a non‑competitive or competitive basis depending on round settings; in practice, funding is allocated based on assessment order and merit until available funds for the round are exhausted.

Assessment focuses on three main criteria: innovation, commercialisation and deliverability. Innovation covers the novelty and differentiation of the product or process; commercialisation assesses market need, scalability, and economic or other benefits to NSW; and deliverability evaluates the project plan, milestones, risk management and capability of the team to complete the work within the proposed timeframe.

Recent Program Updates

The NSW Government has confirmed ongoing support for MVP Ventures through the Future Economy Fund, with successive rounds including Round 3 scheduled to open on 9 March 2026 and close on 5 April 2026. In recent rounds, the program has refined its guidance around eligible expenditure, co‑funding and priority sectors to sharpen its focus on high‑impact commercialisation projects in key NSW industry missions.

The program has also clarified assessment processes, including the two‑stage application model, the role of independent expert panels and the use of clearly defined assessment criteria to ensure transparent, merit‑based decision‑making across funding rounds.

Application Tips

• Review the full program guidelines, including eligibility rules, eligible expenditure categories and assessment criteria, before preparing an application to confirm that the project fits the program’s scope.​
• Gather key documents in advance, such as financial statements, project budgets, evidence of co‑funding, CVs or profiles of key team members, and any technical or market validation evidence.
• Clearly articulate the innovation, including how the product or service is different from existing solutions and why customers or the industry need it.
• Align the proposal with NSW policy priorities and identified sectors by demonstrating economic, environmental or social benefits that accrue within New South Wales.
• Present a realistic, milestone-based project plan that shows how the grant will accelerate commercialisation, including clear outcomes, TRL progression and risk mitigation strategies.

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.