The NSW Minimum Viable Product (MVP) grants support promising pre-revenue start-up businesses across all industry sectors to progress from Proof of Concept to a Minimum Viable Product stage of development. The grants of up to $25K are aimed at start-ups that are yet to generate revenue to help them engage with a potential business customer, or channel to market, and create innovative solutions that address compelling industry needs or market gaps.
Apply at any time.
Overview and Grant Amount
The objective of MVP grants is to support promising start-ups with the funds needed to progress from a proof-of-concept stage to a minimum viable product. Businesses may apply for funding to develop a MVP either to (a) the stage of first revenue, or (b) to a stage where feedback indicates the MVP is inadequate for the planned business mode.
Matched funding of up to 50% of approved total development costs, up to a maximum of $25,000, is available to successful applicants. Only activities directly associated with development of the MVP will be supported. The following will NOT be considered eligible for funding:
- solutions designed to improve internal business processes
- general business costs including sales, marketing, rent, travel, research, IP and legal costs
- project costs that are already the subject of another government grant, subsidy or financial assistance
- project costs incurred prior to an application being submitted (no retrospective funding will be awarded)
Regional recipients of the MVP grant may also be able to claim a travel stipend to help them travel for an innovation-related purpose.
Eligibility and Criteria
To be eligible, a start-up business must:
- have an Australian business number (ABN) registered in NSW and be based in NSW
- have a completed proof of concept (e.g. customer interviews, surveys or focus groups)
- be at pre-revenue stage
- hold IP or the rights to commercialise the end product
- have a potential business customer or business channel to market to
- have a scalable solution that can be deployed to multiple customers
- demonstrate that at least 80% of development costs will occur in NSW
- demonstrate that matched funding for the project has been secured
Successful applicants will receive 35% of the grant upon execution of the Funding Agreement, and 65% following completion and validation of the MVP. This includes an assessment of all agreed deliverables, which will be outlined in the Funding Agreement. The MVP must be completed with market feedback within six (6) months of accepting the Funding Agreement. For successful regional recipients of the MVP Grant, they can also claim up to $2,000 to assist with travel for an innovation related purposes to regional innovation centres such as the Local Innovation Network and the Regional Landing Pad at the Sydney Start-up Hub.
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
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