Revamped start-up grant program now open for applications
The NSW Government has revised its MVP Ventures Program and created two funding streams - a fairer co-contribution model for under-represented founders, and a competitive assessment process, with $12 million available over the next four years.
Applications have opened for the 2025/26 round of the Minimum Viable Product (MVP) Ventures Program, with updated rules designed to widen access for founders who have historically faced barriers to funding.
The program changes follow an independent review of the state’s innovation system by Kate Pounder, which found women, Aboriginal and Torres Strait Islander entrepreneurs, and regional start-ups were not receiving the same level of support as others.
“The fair distribution of support for women, Aboriginal and Torres Strait Islander, and regional tech founders is an incredibly important part of fostering a dynamic innovation sector," Minister for Innovation, Science and Technology Anoulack Chanthivong said of the changes.
Funding streams and co-contributions
The government has allocated $12 million to the program over four years, with $3 million available in 2025/26.
Two funding streams now apply:
Stream 1 – for all eligible businesses, grants range from $20,000 to $50,000. Applicants must provide at least 50 per cent co-funding.
Stream 2 – for women-owned, Aboriginal and Torres Strait Islander-owned, or regionally based businesses, grants range from $20,000 to $75,000. A reduced 25 per cent co-funding requirement applies.
Assessment and eligibility
Applications will be judged on innovation, commercialisation potential and the ability of teams to deliver their projects. An independent panel will review assessments and provide recommendations to the Minister, who will make final decisions.
To qualify, applicants must be headquartered in NSW, employ 10 or fewer full-time equivalent staff, and have an aggregated turnover under $400,000 in each of the past three financial years. Projects must advance a product along the technology readiness scale, demonstrate commercial potential, and be delivered within 12 months.
Minister Chanthivong said the government wanted to support ideas across the state, not just in city centres:
“We understand that great ideas aren’t only created in the inner city of Sydney, and we want NSW to be the best place to innovate where startups can thrive, regardless of their background or postcode.”
Application dates
Round 1 of the 2025/26 program opened on 1 September and closes on 28 September. Two further rounds are scheduled: 24 November–21 December 2025, and 9 March–5 April 2026.
Applications must be lodged online through the SmartyGrants platform.
