Grants for commercialising new products increased

The NSW Government has expanded the funding available under its Minimum Viable Product (MVP) Ventures program.

The maximum funding available has increased from $25,000 to $200,000 per company, eligibility criteria have been relaxed and an effort made to streamline the application process.

The MVP program aims to support businesses to increase the commercialisation of innovative products and services in NSW

Eligible applicants will be assessed based on their innovative ideas, ability to commercialise their products and deliverability.

The program is limited to companies with annual turnover of less than $1 million and 20 full time employees or fewer.

Applications are now open and more information is available online.