About this Grant
What is a MVP?
A minimum viable product (MVP) is a development technique that introduces a new product in its iteration with only enough features or basic functions to attract customers. By introducing the basic version to customers and potential investors, your company can gauge their response.
An MVP grant is a matched funding grant up to 50% of approved project costs, to a maximum of $25,000.
Successful grant applicants will receive 35% of the funding up-front and 65% after completion and validation of the MVP.
Who is eligible?
MVP grants are available to pre-revenue technology startups for the development of scalable technology solutions.
To be eligible for an MVP grant, a startup must:
- Have an ABN registered in NSW and be based in NSW.
- The business entity must be at pre-revenue stage.
- Have a completed proof of concept (e.g. customer interviews, surveys, or focus groups).
- Have a potential business customer (B2B) or business channel to market (B2C).
- Have a scalable solution that can be deployed to multiple customers.
- Hold IP or the rights to commercialise.
- Demonstrate that 80% of development costs will occur in NSW.
- Demonstrate adequate matched funding has been secured for the project.
Businesses may apply for funding to develop a MVP either to:
- the stage of first revenue, or
- to a stage where feedback indicates the MVP is inadequate for the planned business model
Exclusions
The following will not be considered eligible for funding:
- solutions designed to improve internal business processes
- general business costs including sales, marketing, rent, travel, research, IP and legal costs
- project costs that are already the subject of another government grant, subsidy or financial assistance
- project costs incurred prior to an application being submitted (no retrospective funding will be awarded).
Only activities directly associated with development of the MVP will be supported.
How will my application be assessed?
We endeavour to complete each assessment within four (4) weeks of its submission, subject to volume of applications. Applications must satisfy the eligibility criteria outlined above and will then be competitively ranked against the following assessment criteria:
1. Economic benefits to NSW
Examples of this include:
-job creation and/ or enhancing the talent pool our target segments export potential of solution benefits to regional NSW
2. Level of innovation
Examples of this include:
-uniqueness of idea
-innovative application of new or existing technologies
-potential to accelerate market adoption
3. Strength of the business model
Examples of this include:
-sizeable target market
-value of potential customer or channel to market
-management capability
4. Industry sector benefits
Examples of this include:
-benefits to an industry sector, i.e. optimising efficiency, new supply chain or capability
- addressing a market gap
- ability to scale across other sector(s).
Conditions of the funding
The grant amount, terms and conditions and project deliverables will be detailed in a funding agreement provided to successful applicants. Successful applicants will receive 35% of the grant upon execution of the Funding Agreement, and 65% following completion and validation of the MVP. This includes an assessment of all agreed deliverables, which will be outlined in the Funding Agreement. The MVP must be completed with market feedback within six (6) months of accepting the Funding Agreement. For successful regional recipients of the MVP Grant, they can also claim up to $2,000 to assist with travel for an innovation related purposes to regional innovation centres such as the Local Innovation Network and the Regional Landing Pad at the Sydney Startup Hub.
How to apply
MVP grant applications are available online and are open all year round.
You must meet the eligibility requirements listed above to apply.
Assessment process
The current assessment turn-around time is twelve (12) weeks due to increased demand and recent financial year rollover. Please note the timeline is subject to change with further notice. Please check with our team for the latest timeline.
The MVP grant is popular and involves a competitive process. All applications are assessed against the criteria outlined in our
MVP grants guidelines (PDF 166.77KB)
All submissions are subject to a panel review process.
