The NSW Government’s MVP Ventures grant program is designed to support startups and SMEs in the product lifecycle between early-stage research and mature investment opportunities.
The Department of Enterprise, Investment and Trade will provide up to $3 million per annum until 30 June 2027. The minimum grant amount is $25,000 and the maximum grant amount is $50,000, and these funds will need to be matched by the business.
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 one of the following entity types:
- a company incorporated in Australia; or
- an incorporated trustee on behalf of a trust in Australia;
- hold intellectual property (IP) or rights to commercialise.
You must also:
- 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;
- not be an entity or a subsidiary of a group of companies that has more than a total of 20 FTE.
To be eligible, your project must:
- be related to the commercialisation of your product or process
- involve progressing your product or process along the Technology Readiness Level (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 per cent cash contribution
- 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
- include only eligible expenditure.
Applications for Round 1 can be submitted between 4 December 2023 and 30 April 2024.
If you would like to know more about this or any other government incentives in Australia, please get in touch to arrange a discussion.
By Dave Corbin, Managing Director of Catalyst Solutions Australia.
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