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Funding

Applications for the latest round of NSW MVP grants worth $50,000 have opened

- July 8, 2024 2 MIN READ
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It’s a new financial year and that means a new round of the NSW government’s MVP Ventures Program for startup founders has opened, offering grants worth between $25,000 and $50,000.

The NSW Government is offering up to $3 million a year in MVP (minimum viable product) grants until 2027. The popular early-stage grants program was relaunched in late 2023, has selected 34 recipients.

While the former Coalition government planned to increase the grants to $200,000 in 2022, the change in government in 2023 saw Labor put the program on hold for six months before it was rebadged as the MVP Ventures Program at a quarter of its previous value.

And as SmartCompany revealed in an analysis of the first-round recipients so far, an overwhelming majority, 80%, were awarded to Sydney-based startups with just seven going to regional companies, including Newcastle-based EM Energy.

The startup developed the Organic Hydrogen Electrolyser Cell (OHEC), which produces green hydrogen from organic waste. The $50,000 MVP grant will be to test and validate the production of green hydrogen from the OHEC at the University of Newcastle.

EM Energy cofounder Chris Wilson said that to produce just a kilogram of hydrogen using water electrolysis, you need enough energy to power two average homes a day.

“The OHEC doesn’t require any energy or heat, and instead uses organic waste and chemistry to produce green hydrogen,” he said.

“The OHEC device can also be deployed directly onsite, removing the need to transport hydrogen which is an expensive and difficult exercise in its own right.”

Innovation, science and technology minister Anoulack Chanthivong said the government is focused on nurturing innovation that can bring economic opportunity to the state.

“With grants of up to $50,000, the MVP Ventures Program provides much needed support to assist startups on their commercialisation journey while ensuring we attract and retain entrepreneurial talent in NSW,” he said.

Applications for round 2 remain open until 28 February, 2025 or until the money runs out.

You can apply here.

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