The $10-million annual allocated funding of the Minimum Viable Product (MVP) Ventures program aims to drive the commercialisation of highly innovative and new products, processes or services that are at least at prototype or MVP stage.
Deadlines and Timings
Applications are ongoing and will close on December 2026.
Assessment and notification of outcomes: estimated 40 business days
Overview and Grant Amount
This program is designed to address gaps in the product lifecycle between early-stage research and mature investment opportunities. The Department of Enterprise, Investment and Trade (DEIT) is providing up to $200K max grant amounts to successful applications.
To be eligible under this program, you must commit the required 50% matched funding as a cash contribution towards the costs of the proposed project. Your project should only include Eligible Expenditure and you cannot use in-kind (non-cash) contributions as matched funding.
An applicant will need to contribute matched funding depending on the total cost of the proposed project. For example, if an applicant requests an MVP Ventures grant of $105,000 (excl. GST) and the total cost of the proposed project is $210,000 (excl. GST), the applicant will need to contribute $105,000 (excl. GST) of matched funding. Evidence of having the matched funding, or immediate access to matched funding, must be clearly demonstrated at the time of submitting an application. Documented evidence may be provided as, but not limited to:
- a letter or statement from a financial institution
- an executed financier or investor agreement (which may be conditional on receiving an MVP Ventures grant)
- an executed shareholder agreement
Applications for funding for eligible projects will be assessed against and must meet the following criteria:
Eligibility and Criteria
To be eligible, you must:
- have an Australian Business Number (ABN)
- be non-tax exempt
- have a physical office or headquarters in NSW and demonstrate that core activities include research and development
- have an account with an Australian financial institution
- be one of the following: (a) a company incorporated under the Corporations Act 2001, including a company limited by guarantee; (b) an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006
You must also:
- hold intellectual property (IP) or rights to commercialise
- have an aggregated turnover of less than A$1 million for each of the 3 financial years prior to the lodgement of your application (unless the entity is controlled by a publicly funded research organisation)
- be an entity with less than or equal to 20 FTE
If you are a subsidiary of a parent or holding company, you may be eligible but the parent or holding company must also meet the Eligibility Criteria.
If you are an entity located outside of Australia, and you do not currently satisfy the above criteria, you may still apply, provided that you will satisfy those criteria at the date of execution of your funding agreement. Unincorporated organisations and organisations with an ABN registered after 30 June 2021 will be required to have a local council enter into the grant agreement on their behalf.
To be eligible, your project must:
- be for prototyping and piloting studies
- prove the commercial viability of an innovative product, process or service to a customer or investor
- complete the development of an innovative product, process, or service
- demonstrate your product, process, or service in an operational environment
You must also demonstrate and satisfy the following criteria:
- be related to the commercialisation of your product, process or service
- involve progressing your product, process, or service along the Technology Readiness Level (TRL) scale between 3 and 9
- undertake funded activities in NSW
- be aligned with one of the priority industries or technologies listed in the NSW Industry Development Framework
- be completed within 12 months of funding
- 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
- demonstrate a minimum 50% cash contribution
- identify an Eligible Validating Entity that will complete the qualification activities to validate the quality, functionality and intended behaviours of the product, process, or service
- include only Eligible Expenditure
Eligible projects DO NOT include:
- basic research or technical experiments
- developing a product, process, or service for internal use only (i.e., not for sale)
- commercialising the next version or iteration of an existing product, process, or service where updates and changes are minor
Funding will only be provided to projects based on eligible expenditure that is non-recurring and directly related to the development and commercialisation of innovative products, or services including:
- consultant fees
- direct prototyping materials
- other direct costs including patent filing costs for new IP, workshop or laboratory usage charge outs, travel costs.
The guidance on eligible and ineligible expenditure may be updated from time to time. If your application is successful, the guidance in place when you submitted your application applies to your project.
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