Applications are now open for the revamped 2025/26 Minimum Viable Product (MVP) Ventures Program, which has been revised to ensure better support for founders from diverse backgrounds.
Following Kate Pounder's independent review of the state's innovation ecosystem which identified significant gaps in support for women, Aboriginal and Torres Strait Islander, and regional tech founders, the NSW Government has revised the guidelines for the MVP Ventures Program to ensure founders from diverse backgrounds receive a more equitable level of support.
Even though NSW has the number one innovation ecosystem in the Southern Hemisphere, the Minns Labor Government understands the need to foster diverse startups which we know drive creative growth and foster new perspectives across the innovation economy.
Following a $6 million injection as part of the 2025-26 Budget, the NSW Government has committed a total of $12 million in grant funding for this program.
Eligible businesses can apply for a grant, with a total of $3 million available each year for the next four years, starting this financial year.
- Stream 1 is available for all eligible businesses with a maximum grant of $50,000 and a minimum co-contribution of 50 per cent.
- Stream 2 is available for eligible women-owned businesses, regional businesses, and Aboriginal and/or Torres Strait Islander businesses with a maximum grant of $75,000 and a minimum co-contribution of 25 per cent.
The changes made to the MVP Ventures Program aimed at strengthening support for under-represented groups in the innovation ecosystem, also addresses a key action item in the Minns Labor Government's Innovation Blueprint 2035.
This round of applications - the first of three rounds to be held during the 2025-26 financial year - also marks a shift to a competitive assessment process to ensure funds are allocated to projects with the strongest innovation potential, commercial viability, and support the NSW Industry Policy missions.
Applications for Round 1 of the 2025-26 MVP Ventures Program are now open and will close on Sunday 28 September.
For more information on the new program guidelines, application process and when subsequent rounds will open, please visit https://www.investment.nsw.gov.au/grants-and-rebates/mvp-ventures/.
Minister for Innovation, Science and Technology, Anoulack Chanthivong said:
"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.
"That is why I'm delighted to open the revised 2025/26 MVP Ventures program, and I encourage women, Aboriginal and Torres Strait Islander, and regional tech founders to apply.
"The Pounder Review identified significant gaps in support for women, Aboriginal and Torres Strait Islander, and regional tech founders which is why we made it a key action in the Innovation Blueprint 2035 to face these challenges.
"I am very proud that by revising the guidelines of the MVP Ventures program, we are seeking to meet these challenges head-on to address disparities in funding and unlock the untapped potential of diverse founders.
"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."
Former CEO of the Tech Council of Australia and Author of the Pounder Review Kate Pounder said:
"A key finding of my review into the NSW innovation ecosystem was that the NSW Government needed to improve the diversity of tech founders and extend the availability of capital to more areas of opportunity across the innovation ecosystem.
"I applaud the NSW Government on the revised guidelines of the MVP Ventures Program as it demonstrates a real commitment to breaking down barriers for under-represented groups including women-owned businesses, Aboriginal and Torres Strait Islander businesses and entrepreneurs in regional NSW.
"I am very pleased the NSW Government has taken important steps to address disparities in funding and to unlock the untapped potential of diverse founders from right across the state."
