About this programme
MVP Ventures is a competitive NSW Government grant that helps early-stage NSW businesses take an innovative product through pre-market development and commercialisation, while keeping the commercialisation work itself based in NSW. It is run by Investment NSW, under the Premier's Department, and forms part of the NSW Innovation Blueprint 2035's push to widen access to early commercialisation funding.
The program is structured to progress a product along the Technology Readiness Level (TRL) scale from TRL 3 (proof of concept) through to TRL 9 (commercial deployment) — funding activity such as prototyping, piloting, demonstrating commercial viability, and testing in an operational environment, rather than pure research.
Funding runs as a co-contribution grant across two streams. Stream 1 is open to all eligible NSW businesses; Stream 2 offers a higher grant share and is reserved for businesses that are majority women-owned/managed, headquartered regionally, or majority Aboriginal and/or Torres Strait Islander-owned. Up to $3 million total was available across the program for FY2025-26, allocated competitively across rounds rather than as first-come, first-served.
Round 3 of the 2025-2026 program opened 9 March 2026 and closed 10 April 2026 at 5:00pm; the round is now closed. NSW Government has run MVP Ventures in successive rounds within a financial year (Round 3 followed Round 2), so a further round is the likely path back in for a business that misses this one — check the official program page for the next round's dates before assuming timing.
How it works
Two funding streams run in parallel, each with its own grant ceiling and required cash co-contribution from the applicant.
Stream 1 (general): the grant covers up to 50% of eligible project costs, for $20,000 to $50,000, with the applicant funding the remaining 50% or more in cash.
Stream 2 (priority groups): the grant covers up to 75% of eligible project costs, for $20,000 to $75,000, with a minimum 25% cash co-contribution. Stream 2 eligibility is limited to businesses that are majority women-owned/managed, headquartered in regional NSW, or majority Aboriginal and/or Torres Strait Islander-owned.
The co-contribution must be cash — the official program page states in-kind contributions are not accepted as matched funding, and applicants must be able to demonstrate they have access to the required co-contribution amount.
Approved projects must be completed within 12 months of the funding agreement, with a minimum project length of 3 months.
Applications go through eligibility screening first, then a competitive merit assessment against three criteria — innovation, commercialisation, and deliverability — followed by independent panel review, with the Minister for Innovation, Science and Technology as final decision authority.
Who can apply
The applicant business must hold an active Australian Business Number (ABN), be headquartered in NSW, hold an Australian bank account with an authorised institution, and be incorporated under the Corporations Act 2001 (Cth) or as an Aboriginal and/or Torres Strait Islander corporation.
The business must own the intellectual property behind the product, or hold commercialisation rights to it, and must have aggregated turnover of $400,000 or less in each of the three financial years prior to lodgement, with 10 or fewer full-time equivalent employees.
Individuals, sole traders, partnerships, trusts, and unincorporated associations are not eligible to apply, nor are insolvent entities, government agencies, or joint applications. A business already receiving similar government assistance for the same activity, or that is a current MVP Ventures recipient, is also excluded.
The majority of project activities must be conducted in NSW, and the applicant must be able to show that government support is necessary for the project to proceed.
Stream 2's higher grant share is restricted to businesses that are majority women-owned/managed, headquartered in regional NSW, or majority Aboriginal and/or Torres Strait Islander-owned; all other eligible businesses apply under Stream 1.
How to apply
- Read the program guidelines in full before starting an application — the official page states this is a prerequisite.
- Register or log in to the SmartyGrants platform, which hosts the MVP Ventures application form.
- Complete the online application, addressing each eligibility requirement and all three assessment criteria (innovation, commercialisation, deliverability).
- Attach the supporting documentation and any templates the application form specifies.
- Submit before the round closes. The official guidance is explicit that once submitted, the Department will not request further clarification, so the application must be complete and correct at lodgement — there is no back-and-forth to fix gaps afterward.
- If successful at the eligibility stage, the application proceeds to competitive merit assessment and independent panel review, with a Ministerial decision as the final step before outcome notification.
Documents you’ll typically need
- The published program guidelines document for the round
- Supporting materials and information requested within the SmartyGrants application form (evidence for eligibility and assessment criteria)
- Any templates specified in the application form instructions
Frequently asked
Is MVP Ventures Round 3 still open?
No. Round 3 of the 2025-2026 MVP Ventures Program opened 9 March 2026 and closed 10 April 2026 at 5:00pm. The official NSW Government page for this round now shows it as closed; check the general MVP Ventures program page on nsw.gov.au for the next round's dates.
What is the difference between Stream 1 and Stream 2?
Stream 1 is open to all eligible NSW businesses and covers up to 50% of eligible project costs ($20,000-$50,000), requiring a minimum 50% cash co-contribution. Stream 2 offers up to 75% of eligible project costs ($20,000-$75,000) with only a 25% minimum co-contribution, but is restricted to businesses that are majority women-owned/managed, regionally headquartered, or majority Aboriginal and/or Torres Strait Islander-owned.
Can in-kind contributions count toward the required co-contribution?
No. The official program guidance states in-kind contributions are not accepted as matched funding — the co-contribution must be cash from the applicant or other non-government sources, and applicants must be able to demonstrate access to that funding.
Who can apply for MVP Ventures?
An incorporated NSW-headquartered business with an active ABN, an Australian bank account, ownership of or commercialisation rights to the relevant IP, aggregated turnover of $400,000 or less across each of the prior three financial years, and 10 or fewer FTE employees. Sole traders, partnerships, trusts, unincorporated associations, insolvent entities and government agencies are not eligible.
How long can a funded project run for?
Projects must be completed within 12 months of the funding agreement being executed, with a minimum project duration of 3 months.
What happens after I submit my application?
Applications are first checked against the eligibility criteria, then eligible applications go through a competitive merit assessment against innovation, commercialisation and deliverability criteria, followed by independent panel review. The Minister for Innovation, Science and Technology makes the final funding decision, and applicants are notified only once that full assessment process is complete.
Can I ask NSW Government to clarify or fix my application after submitting it?
No. The official guidance states it is the applicant's sole responsibility to ensure all required information is provided at the time of submission, and that the Department will not request further clarification once an application has been submitted.
Reviewed 2026-08-16. Programmes change — confirm current eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private consultancy and is not affiliated with any government authority.