Minimum Viable Product Ventures 2024-2025

Program guidelines

The objective of the MVP Ventures Program is to:  

• support businesses throughout the pre-market development and commercialisation pathway of their innovative products in NSW
• attract and retain commercialisation activities in NSW
• target new products within Technology Readiness Level (TRL) 3 to 9 to help them move along the TRL scale and enable them to attract large-scale private investment.

The MVP Ventures Program will support businesses throughout their commercialisation journey. Innovative firms who successfully complete projects funded under the Program are permitted to reapply for additional funding to make further progress along the Technology Readiness Level (TRL) scale.

The NSW Government will provide up to $3 million per annum for the Program to 2027.

This program is administered by Investment NSW.

Download MVP Ventures Program Guidelines

Download MVP Ventures Frequently Asked Questions

Eligibility

To be eligible to apply, your business 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 that is no more than A$1 million for each of the three financial years prior to the lodgement of your application; and
• have no more than a total of 20 FTE employees (including Founders).

To be eligible, your project must:

• be related to the pre-market development and commercialisation pathway of your product
• involve progressing your product along the Technology Readiness Level (TRL) scale between 3 and 9
• be aligned to and marketed within one of the following NSW Government Industry Development Framework priority industries
• have secured a minimum 50% cash contribution (no in-kind) for the project
• be completed within 12 months of funding, minimum project period is 3 months
• 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.

For detailed information on program eligibility and assessment criteria please refer to the guidelines.

Application process

The Program has a two-stage application process, consisting of an Expression of Interest (EOI) and a detailed application. Applications will be considered on a non-competitive basis against the eligibility and assessment criteria and will be assessed in the order in which they are received.