MVP Ventures Program frequently asked questions
Find answers to common questions about the MVP Ventures Program, including eligibility, funding, application process and key program details.
To apply for the program, you must complete the online application form and provide all the requested information and supporting documentation as outlined in the program guidelines.
To be eligible for the program, applicants must meet all business eligibility criteria and project eligibility criteria as outlined in the program guidelines.
The required supporting documents include a completed accountant declaration, financial statements including profit and loss, letter(s) of intent, a letter or transaction bank statement, ASIC current and historical company extract and current registration documents.
All templates are available in the Program Resources section on the Investment NSW MVP Ventures webpage.
No, you must use the templates provided by the Department. The Department will not consider any materials or documents attached to the application that were not specifically requested or that do not follow the provided templates.
No, multiple applications from the same business or related parties in the same funding round will not be accepted. If two applications are submitted, only the first application will be considered, and subsequent applications will be deemed ineligible
No, once an application is submitted, it is considered final. Applicant must ensure all information is accurate and complete before submission.
Yes, applicants have the right to withdraw a submitted application at any time. Please contact us to submit an application withdrawal request.
You can access and view your application progress (by clicking on the ID number) at any time through the My Submissions page in the SmartyGrants application portal. Individual application progress updates will not be provided.
Applicants will be notified of the outcome of their application only after the assessment process is complete and recommendations have been approved.
Yes, written feedback is provided to all unsuccessful applicants outlining where the application did not meet the program criteria or was not recommended for funding.
Yes, unsuccessful applicants may submit a new application in future rounds. Any resubmission should include additional or revised information to address any feedback provided where applicable.
An ASIC current and historical company extract is an official, up-to-date document from the Australian Securities and Investments Commission (ASIC) that provides key information about an Australian company. Visit the ASIC website for further information.
It is used to verify the applicant’s eligibility for the program, such as the location, officeholders and shareholders.
The ASIC current and historical company extract will show if the shares listed against a person are beneficially owned or not. Refer to the ASIC user guide for help in reading company extracts.
SmartyGrants is the online grants management system used by Investment NSW to manage grant applications. If you are a new applicant to SmartyGrants, you will need to register and create a password. If you are already registered, you can log in with your existing username and password. SmartyGrants registration for applicants is free.
It means you (the applicant) created, own, and have the legal right to commercialise the product, or have written permission from the creator to use and sell the product. It does not require you to have lodged a patent application.
To be eligible for the program, both the registered office and principal place of business must be located within NSW for at least six months prior to applying, or since commencement if the business has been operating for less than six months. Additionally, the majority of officeholders must be based in 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.
Yes. You can include expenses from outside NSW, but they must not exceed 20% of your total project costs. Any amount above this limit will be considered ineligible and must be covered by you.
To be eligible, you’ll need to show evidence that the full co-contribution amount is available both when you apply and, if successful, when the Funding Agreement is signed.
No. R&D Tax Incentive payments are treated as a refundable tax offset, not business income, and are excluded from aggregated turnover.
It means people from the identified group (e.g. women, Aboriginal and Torres Strait Islanders) own more than half (51% or greater) of the business, and they are also the majority of the main leaders and decision-makers running it day to day, as evidenced by the listed officeholders on the ASIC company extract.
ASIC doesn’t record gender, so if it’s not clear from public information, we’ll confirm details directly with successful applicants during the funding process.
If the shares are held by another company or trust, you’ll need to show who the ultimate beneficial owners are, in other words, who actually owns and controls those shares behind the structure. To be eligible, women must beneficially own at least 51% of the shares once you look through the company or trust structure.
To evidence this you can provide supporting documents, such as:
- ASIC current and historical company extracts for any holding companies, showing who owns their shares
- Trust deeds or distribution schedules for trusts, showing who the beneficiaries are
A good LOI shows that a customer is seriously considering your product and intends to engage commercially. They are specific, action-oriented, and reflect genuine commercial interest, not just general support. Strong LOIs should be sourced from a reputable organisation whose support carries market weight and include:
- Clear relevance, where the customer identifies and confirms the real challenge your solution addresses.
- Intent to act, where the customer express plans to trial, purchase, or partner.
- Demonstrated engagement, with mention of early trials, feedback, or integration.
- Articulated value, where the customer describes expected benefits and alignment with their goals.
No, supporting an Industry Policy Mission is not mandatory for eligibility, but it is a competitive assessment criterion. This means applications that clearly demonstrate strong support with one or more missions will be more competitive compared to those who don’t.
For the purpose of this grant program, the metropolitan areas of Sydney, Newcastle, and Wollongong are defined as the following Local Government Areas (LGAs):
- Bayside Council
- Blacktown City Council
- Blue Mountains City Council
- Burwood Council
- Camden Council
- Campbelltown City Council
- Canada Bay Council
- Canterbury-Bankstown Council
- Cumberland Council
- Fairfield City Council
- Georges River Council
- Hawkesbury City Council
- The Hills Shire Council
- Hornsby Shire Council
- Hunter's Hill Council
- Inner West Council
- Ku-ring-gai Council
- Lane Cove Council
- Liverpool City Council
- Mosman Council
- North Sydney Council
- Northern Beaches Council
- Parramatta City Council
- Penrith City Council
- Randwick City Council
- Ryde City Council
- Strathfield Council
- Sutherland Shire Council
- Sydney City Council
- Waverley Council
- Willoughby City Council
- Wollondilly Shire Council
- Woollahra Council
- Central Coast Council
- City of Newcastle
- City of Lake Macquarie
- City of Cessnock
- City of Maitland
- Port Stephens Council
- Wollongong City Council
- Shellharbour City Council
- Kiama Municipal Council
- Shoalhaven City Council
This definition has been set specifically for this program and may differ from other commonly used boundaries.