A Real CFO

MVP Ventures Program vs Industry Growth Program

MVP Ventures Program vs Industry Growth Program

2 similar grant programs launched within a week of each other.  Firstly, the Federal Government’s Industry Growth Program opened for applications on 27 November 2023.  Then the NSW Government’s MVP Ventures Program opened on 4 December 2023. 

This compares the 2 programs so you can make a decision as to which one is best for you. 

 

 

Industry Growth Program

NSW MVP Ventures Program
Total funding available $392m (including the money paid to advisors) $12m of which $1.2m already committed
Advice Provided Yes – required to access grants No
Grant funding available
  • $50,000 to $250,000 to support early-stage commercialisation project
  • $100,000 to $5 million for commercialisation and growth projects.
  • $25,000 to $50,00
  • Note need to 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

Eligible Entity

 
  • have a combined annual turnover of less than $20 million for each of the prior 3 financial year
  • be an Australian company, co-operative or corporate trustee of a trust with an ABN and registered for GST
  • are non-income-tax-exempt
  • Be headquartered in NSW and demonstrate that core activities include research and development
  • Be a non-income-tax exempt company with an ABN
  • be an entity with less than or equal to 20 FTE
  • have an aggregated turnover of less than A$1 million for each of the prior 3 financial year
  • hold IP or rights to commercialise.
Eligible projects Innovative product, process or service in one or more of the National Reconstruction Fund priority areas Technically innovative products and processes aligned with priority industries
Priority areas / Industries
  • value-add in resource
  • value-add in agriculture, forestry and fisheries
  • transport
  • medical science
  • renewables and low emission technologies
  • defence capability
  • enabling capabilities (*)
  • 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

(*)        enabling capabilities involved in manufacturing any of the following products: advanced manufacturing technologies or materials technologies; artificial intelligence technologies; advanced information or communication technologies; quantum technologies; autonomous systems; robotics technologies; positioning, timing and sensing technologies; biotechnologies; space objects or products for use in, or in connection with, space objects; other advanced technologies.

Wayne Wanders is an experienced Business Advisor skilled in analysing business financial performance and cash flow. Wayne may also be able to assist you in preparing your grant application.  Contact Wayne below for a free no obligation session.

 

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Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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