New Grants

The NSW MVP Ventures is now accepting applications for its first round. It aims to support start-ups and innovative SMEs in the product life cycle between early-stage research and mature investment opportunities with a funding allocation of $3 million per annum until 30 June 2027.

Deadlines and Timings

Round 2 applications opens on 2 July 2024 and will close on 30 April 2025 at 16:30 AEST.

Successful applicants will be invited to submit a detailed application within 15 days of submitting an expression of interest (EOI). Applicants invited to submit a detailed application will be advised of their outcome within 30 business days of submission of the detailed application, subject to the department receiving all required documentation with the submitted application.

Round 2 applications will open on 1 July 2024 and will close on 30 April 2025 at 16:30 AEST.

Overview and Grant Amount

The objective of the program is to:

  • support businesses to increase the commercialisation of innovative products and processes in NSW
  • attract and retain commercialisation activities in NSW

The program targets new products or processes within Technology Readiness Level (TRL) 3 – 9 to help them move along the TRL scale and enable them to attract large-scale private investment.

The Department of Enterprise, Investment and Trade (DEIT) will provide up to $3 million per annum for the program to 30 June 2027. The minimum grant amount is $25,000 and the maximum grant amount is $50,000.

The MVP Ventures funding can be used for eligible expenditure that is non-recurring and directly related to the development and commercialisation of your product or process, including:

  • wages (up to $25,000)
  • consultant fees
  • direct prototyping materials
  • equipment
  • other direct costs including patent filing costs for new IP (up to $7,500) and travel costs (up to $2,000)

Only the costs of materials and labour used directly on your project are considered eligible expenditure if they are purchased from third parties. There may be exceptional circumstances where an associated party may be a supplier or a subcontractor within a project. In these circumstances we would require a full explanation as to why this option is required.

Eligibility and Criteria

To be eligible, you must:

  • have an 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 or an incorporated trustee on behalf of a trust in Australia
  • hold intellectual property (IP) or rights to commercialise
  • not be an entity or a subsidiary of a group of companies that has an aggregated turnover that is more than A$1 million for each of the three financial years prior to the lodgement of your application; and
  • not be an entity or a subsidiary of a group of companies that has more than a total of 20 FTE

You are NOT eligible if you are:

  • insolvent
  • an individual
  • an unincorporated association
  • a trust
  • a partnership
  • receiving or have received NSW Government or federal assistance from another program for the same purpose
  • a federal, state, territory or local government agency or body (including government business enterprises)
  • currently receiving funding under the MVP Ventures Program

Eligible Projects

To be eligible, your project must:

  • be related to the commercialisation of your product or process
  • involve progressing your product or process along the TRL scale between 3 and 9
  • be aligned to one of the following NSW Government Industry Development Framework priority industries (agriculture and agrifood, resources, defence and aerospace, clean energy and waste, medical and life sciences, digital systems and software, international education, visitor economy, advanced manufacturing, biotechnologies, digital technologies)
  • demonstrate a minimum 50%
  • have a validating entity that will qualify and evaluate the quality, functionality and intended behaviours of the product or process
  • be completed within 12 months of funding
  • 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

For example, eligible projects could include:

  • prototyping and piloting studies
  • demonstrating the commercial viability of an innovative product or process to a customer or investor
  • completing the development of an innovative product or process
  • demonstrating a product or process in an operational environment

For example, eligible projects could NOT include:

  • basic research or technical experiments
  • developing a product or process for internal use only (i.e., not for sale)
  • commercialising the next version or iteration of an existing product or process where updates and changes are minor

Eligible Expenditure

The MVP Ventures funding can be used for eligible expenditure that is non-recurring and directly related to the development and commercialisation of your product or process, including:

  • wages (up to $25,000)
  • consultant fees
  • direct prototyping materials
  • equipment
  • other direct costs including patent filing costs for new IP (up to $7,500) and travel costs (up to $2,000)

Only the costs of materials and labour used directly on your project are considered eligible expenditure if they are purchased from third parties. There may be exceptional circumstances where an associated party may be a supplier or a subcontractor within a project. In these circumstances we would require a full explanation as to why this option is required.

Validating Entity

The validating entity you select should be a third-party organisation that is not affiliated with you or your business and is required to be at ‘arms-length’. A validating entity must be any of the following:

  • a company incorporated in Australia
  • a statutory corporation
  • an incorporated trustee on behalf of a trust in Australia
  • publicly funded research organisation
  • be able to demonstrate they have the relevant technical or industry expertise in the field that your product or process is being developed

Applicants are encouraged to thoroughly read the program guidelines and FAQ set by the funding grant. Submissions must be lodged through the program online portal.

Expert Assistance

We have over 15 years of experience preparing EMDG and R&D tax incentive claims and can assist in making sure you receive your maximum rebate.

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.

Get in touch with us and let’s discuss this more in detail.

For information about other Australian Government Grants, visit Treadstone New Grants page and sign up to our newsletter!

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