Key information
- Status: Closed
- Grant amount: From $20,000 to $75,000 (depending on funding stream)
- Application opened: 1 September 2025
- Application closed: 28 September 2025, 5:00 pm
Program objective
The objective of the Program is to:
- support eligible businesses throughout the pre-market development and commercialisation pathway of their innovative products in NSW; and
- attract and retain commercialisation activities in NSW.
The Program targets products within Technology Readiness Level (TRL) 3 – 9 to help them move along the TRL scale and enable them to attract large-scale private investment.
This program is administered by Premier's Department.
Eligibility
Who can apply
We cannot consider your application if it does not satisfy all eligibility criteria.
To be eligible to apply, your business must:
- have an active Australian Business Number (ABN)
- be headquartered in NSW
- have an account with an Australian Authorised Deposit-taking Institution
- be a company incorporated in Australia under the Corporations Act 2001 (Cth) or an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and/or Torres Strait Islander) Act 2006 (Cth)
- hold intellectual property (IP) or rights to commercialise
- have an Aggregated Turnover of $400,000 or less in each of the three financial years prior to the lodgement of your application, and
- have 10 or fewer Full Time Equivalent (FTE) employees including Founders
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
- demonstrate why the project would not proceed in NSW without government support be completed within 12 months of funding, minimum project period is 3 months (the ‘Project period’)
- undertake funded activities in NSW, and
- include only eligible expenditure
In addition, you must satisfy the eligibility requirements of the funding stream you are applying for, please refer to the Program guidelines and the Investment NSW MVP Ventures Program webpage for further information.
Types of projects funded under this grant
Eligible projects could include:
- prototyping and piloting studies
- demonstrating the commercial viability of an innovative product to a customer or investor
- completing the development of an innovative product
- demonstrating a product in an operational environment
What your application needs to include
Prepare your application with this checklist
Please refer to the Program guidelines on the Investment NSW MVP Ventures Program webpage for detailed information on what your application needs to include.
Address the eligibility criteria
Each applicant, as part of an application response, must confirm that they meet the eligibility criteria.
Applicants that do not address the eligibility criteria in full may be excluded from the application process at the department's discretion.
Address the assessment criteria
You must address all the following assessment criteria in your application:
Innovation
You must clearly demonstrate that the product:
- addresses a realistic and well-defined problem backed by industry research
- is new or significantly different to what already exists, and
- provides a solution that meets a market need
Commercialisation
You must clearly demonstrate that the product:
- is commercially viable
- supports NSW Industry Policy Missions, 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.
Start the application
Before applying you must read and understand the Program guidelines.
To apply you must:
- Complete the online application form on the SmartyGrants platform.
- Provide all the information requested, including supporting documentation, in line with the instructions provided within the application form.
- Meet all the Program eligibility criteria, applications that do not meet program eligibility will not be considered for competitive assessment.
- Submit your application by the key dates (rounds may be closed early to ensure equitable distribution of funds across all rounds).
Note: 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.
Apply now
After the application is submitted
Successful applications will be decided by: The Minister for Innovation, Science and Technology
We will first review your application against the eligibility criteria. If eligible, your application will progress to the competitive assessment.
You must provide all required information, using the templates provided (where applicable) to support your application.
It is the sole responsibility of the applicant to ensure all relevant and required information is provided at the time of submission. Once an application has been submitted the Department will not request any further clarification or additional information to support the application.
Applicants will be notified of the outcome of their application only after the assessment process is complete and recommendations have been approved.
Please refer to the Program guidelines on the Investment NSW MVP Ventures Program webpage for further information on the assessment process.
Support and contact
If you have any questions regarding this program, please contact Investment NSW