NSW MVP Ventures Program 2025-2026 Round 3

This round of the NSW MVP Ventures Program 2025-2026 Round 2 provides matched funding of between $20,000 and $75,000 to support businesses to commercialise innovative products, while attracting and retaining commercialisation activities in NSW.

Available Funding

Funding for the 2025-2026 year is $3m in total spread across 3 rounds

There are now 2 streams of funding.

Stream 1 has funding between $20,000 and $50,000 with a minimum co-contribution of 50%.

Stream 2 is targeted at majority Women-owned and managed businesses, regionally headquartered and operated businesses, Aboriginal and/or Torres Islander majority owned and managed businesses.  This stream has funding between $25,000 and $75,000 with a minimum co-contribution of 25%.

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Funding Rounds

There are 3 competitive funding rounds this year. They are:

There are 3 competitive funding rounds this year. They are:

Round 1 1-28 September 2025 now closed

Round 2 24 November to 21 December 2025 now closed

Round 3 9 March to 5 April 2026 opening 9 March

Eligibility for the MVP Ventures Program

To be eligible for Stream 1 of the MVP Ventures Program, your business must:

• Be a non-tax-exempt company with an ABN (insolvent companies, individuals, trusts, partnerships and unincorporated bodies can’t apply)
• be an entity with less than or equal to 10 FTE including founders.
• have an aggregated turnover of less than A$400,000 for each of the three financial years prior to the lodgement of your application.
• hold intellectual property (IP) or rights to commercialise.

Also you must demonstrate why the project would not proceed in NSW without government support.

In addition to the above, to be eligible for Stream 2 (higher grant amounts), your business must:

• For women-owned and managed businesses must provide evidence that the CEO (or equivalent) is a woman, and the majority of officeholders are women and have held these roles for at least 6 months prior to applying or since the business commenced operations if it has been operating for less than six months; and women beneficially own the majority of shares
• For Regionally Headquartered and operated businesses must provide evidence that the registered office and principal place of the business is located within Regional NSW for at least six months prior to applying, or since commencement if the business has been operating for less than six months; and the majority of officeholders must be based in Regional NSW for at least six months prior to applying, or since the business commenced operations if it has been operating for less than six months. And must also commit to deliver the project from Regional NSW.Under the Program regional NSW locations are defined as locations outside of the metropolitan areas of Sydney, Newcastle, and Wollongong.
• For Aboriginal and/or Torres Strait Islander majority owned and managed businesses must provide current appropriate registration documents.

To be eligible for both streams, businesses must provide the ASIC company extract that demonstrates the:

• Registered office and principal place of the business is located within NSW for at least 6 months prior to applying, or since commencement if the business has been operating for less than six months
• The majority of listed office holders must be based in NSW for at least 6 months prior to applying, or since commencement if the business has been operating for less than 6 months

Eligible projects

To be eligible, your project must:

• be directly related to the pre-market development and commercialisation pathway of your product
• involve progressing your product along the Technology Readiness Level (TRL) scale between 3 and 9 (see below for what this means)
• demonstrate why the project would not proceed in NSW without government support
• undertake funded activities in NSW
• be completed within 12 months of funding, minimum project period is 3 months
• include only eligible expenditure (see below).

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
• demonstrating a product in an operational environment.

Eligible projects do 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 in the market

Eligible expenditure

Funding will only be provided to projects where at least 80% of the expenditure is incurred within NSW and directly supports the pre-market development and commercialisation pathway of a product.

Eligible Expenditure, includes the following:

• wages (no more than 50% of the total grant)
• consultant fees (no more than 50% of the total grant)
• project materials
• patent filing or regulatory compliance (limited to $7,500)
• domestic travel costs (limited to $2,000)

All suppliers must be engaged at arm’s-length and must not be related parties. The costs of materials and labour used directly on your project are considered Eligible Expenditure only if they are purchased from third parties.

Eligible project material costs include the purchase or hire of equipment, tools, and materials necessary for undertaking the project. This encompasses expenses such as laboratory and workshop hire fees, provided they are directly related to the project activities.

These costs must be:

• incurred and paid for during the project period
• specifically identifiable as being purchased or hired for the project’s activities; and
• reasonable in scale to demonstrate the project’s underlying concepts or establish its commercial viability

Single item equipment purchases, computing and smart devices including, but not limited to, computers, laptops, servers, tablets, iPads, mobile phones, smart watches, and fitness trackers are not eligible under the Program.

Co-Contribution Evidence

This year they are being very strict on what is needed to Co-Contribution evidence.  You need a business bank account with the necessary funds in it at the time of the application and at the time of signing the funding agreement.  You can’t use personal bank statements, letters of intent from investors or from a SMSF.

Application Process

The 2025-2026 application process now requires each business to address all the assessment criteria (see below for more on these).  Every applicant will have to provide much more information than they would have had to lodge their expression of interest for the 2024-25 funding round.

Each application will be firstly reviewed for eligibility (see below for the eligibility rules) and then each application will be assessed against the assessment criteria noted below.

The highest ranking of these will then go to an independent review panel for final submission for funding.

Note this whole process will be conducted based on what you submitted in your application.  There will be no request for any further clarification or additional information.  So, make sure your application covers everything.

Unsuccessful applicants will be notified in writing of the outcome of their application along with the reasons why your application.  You can submit a new application in the next round for the same (or similar) project, as long as you include new or more information to detail how you addressed the feedback.

Assessment Criteria

Your application under the MVP Ventures Program is reviewed against the following assessment criteria: innovation, commercialisation and deliverability.

Innovation – You must clearly demonstrate that your product:

• addresses a realistic and well-defined problem backed by industry research
  • is new, innovative or significantly different to what already exists, and
  • provides a solution that meets a market need

To demonstrate genuine market interest and validate that the product addresses a real and identified need, you need at least one letter of intent.  This is a formal, non-binding document from potential customers (business end-users) or distribution partners that expresses a willingness to trial the product, provide feedback, and/or support its market adoption.

Commercialisation – You must clearly demonstrate that your product:

• is commercially viable
• supports NSW Industry Policy Missions (see below comments on these), and
• will deliver economic, environmental and/or social benefits to NSW

Deliverability – You must clearly detail how you intend to deliver your project by outlining:

• the project outcomes, milestones, key activities, and risks
• the project team has the capacity, along with appropriate management, commercial, professional, and technical expertise to deliver the project.

NSW Industry Policy Missions

Under the commercialisation assessment criteria, the application asks you to “clearly demonstrate” that your product supports the 3 current NSW Industry Policy Missions being: housing, net zero & energy transition, and local manufacturing. 

This implies that if you don’t do this, then your application will be rated low.  But, from what I can see from the publicly announced recipients of Round 1, there were business who did not tie directly to any of these policy missions who were still offered grants.

If your product does not support these, you tick the “other” box on the application form. 

Grant Payment Structure

Milestone 1 – 40% on signing the grant agreement

Milestone 2 – 30% can be claimed a minimum of 6 weeks after the Milestone 1

payment, or as otherwise agreed in writing. And is subject to:

• Satisfactory completion of a progress report, and
• Submission and approval of the Milestone 1 acquittal report and financial evidence

Milestone 3 – 30% can be claimed a minimum of 3 months after executing the Funding Agreement, or as otherwise agreed in writing.  And is subject to:

• Satisfactory completion report, and
• Submission and approval of the Milestone 2 acquittal and financial evidence of expenditure of up to 100% of the total project costs

Learn More

To learn more and apply click here

Note application opening and closing dates for the NSW MVP Ventures 2025-2026 round 3 program are 9 March to 5 April 2026

Technology Readiness Levels Index (TRL)

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

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Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052