How to get the $50,000 MVP Ventures Program

Get $50,000 of non-competitive commercialisaiton funding!

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What is the MVP Ventures Program?

The MVP Ventures Program provides up to $50,000 to commercialise innovative products in NSW.

Case Study

MVP Ventures Program successful recipient

Bulletpoint assisted Daktel secure $50,000 from the MVP ventures program.

Daktel is developing a range of smart home phone solutions giving seniors the freedom to live safely and independently for longer. This project will commercialise a tablet, with phone capabilities, that will be user-friendly for elderly users.

Daktel will bring to market “myhomefone seniors tablet” which is a home phone and tablet device designed for seniors/pensioners. The current iteration of the device is a prototype that has undergone testing in a controlled environment. The project will involve placing the product through operational environment testing to demonstrate that the product is userfriendly.

Daktel will undergo final revisions of the device based on our test feedback in the operational environment. Finally, Daktel through this project will integrate the back-end IT systems to ensure the product is ready for a successful launch.

 

How we got the MVP Ventures grant

If you want to get the MVP ventures program you will need to focus on how:

  1. Innovation – your product is highly innovative or a disruptive technology
  2. Uniqueness – your product is a unique application of a technology that is significantly different to any previous innovation in the market
  3. Tech-ready – your product is at a TRL between 3 – 9.
  4. Problem Solving– your product solves a well-defined problem or opportunity that your product, process or service responds to.
  5. Viability – your product has evidence of commercial viability (refer to market size and value created by the size of the potential market)
  6. Path to market – you intend to deliver your product to market
  7. Value – your project delivers value for money
  8. Progression – far along the TRL stage you will progress.
  9. Capability – your project team has the capacity and skills

Do you want to fast track your application?

MVP Ventures Program

 

Track Record

Bulletpoint has worked with a number of early-stage companies to assist them to obtain commercialisation funding.

 

MVP Ventures Program

Bulletpoint assisted Ovira to secure $400,000.

Ovira was founded by Alice Williams, a 27-year old endometriosis sufferer who was inspired to create the new device after years of searching for a pain-management option for her own endometriosis. When she couldn’t find a solution that was drug-free or didn’t involve invasive procedures, she looked for an alternative.

Her fledgling company Ovira has just raised $1.5 million from Blackbird Ventures, to help establish its small egg-shaped electrotherapy device in the market, after promising early sales.

MVP Ventures Program

Bulletpoint assisted Airrobe to secure $396,050.

AirRobe’s Circular Wardrobe is solving the problem of textile waste by allowing fashion brands to offer their customers a simple way to repurpose their items. The project is building a unique application which captures product data (images, sizing and descriptions) at the time that consumers make a brand new purchase. This enables consumers to return to the application at any time and re-sell, recycle or upcycle their used-fashion in one-click.

MVP Ventures Grant

Bulletpoinst assisted PolyNovo to secure $500,000.

PolyNovo plans to use the funding to support the purchase of new equipment and the upgrading of existing equipment used for manufacturing our NovoSorb SynPath product, used for amongst other things diabetic foot ulcers (DFU).

MVP Ventures Grant

Bulletpoint assisted Thomas Global Systems to secure $2 million.

The company will develop and qualify two new flight-critical avionics products – an Enhanced Upfront Display Unit and a Keyboard Unit for Boeing AH-64 Apache Helicopter, a significant US military airborne program.

MVP Ventures Program

Background

The MVP Ventures Program is an expanded initiative of the highly successful Minimum Viable Product and Building Partnerships program designed to address gaps in the product lifecycle between early-stage research and mature investment opportunities.

This MVP Ventures Program provides grants to drive the commercialisation of highly innovative and new products, processes or services that are at least at prototype or minimum viable product stage.

 

Objective

The objective of the MVP Ventures Program is to:

  • support businesses to increase the commercialisation of innovative products and services in NSW
  • attract and retain commercialisation activities in NSW.

 

Funding

The MVP Ventures Program provides up to $50,000 to commercialise innovative products in NSW.

The NSW Government will provide up to $3 million per annum for the Program to 2027.

 

Eligible Projects

To be eligible, your MVP Ventures Program project must:

  • be related to the commercialisation of your product, process, or service
  • be progressing your product along the TRL scale between 3 and 9.
  • undertake the project in NSW
  • be aligned with one of the priority industries
  • be able to complete your project within 12 months
  • demonstrate why you need the cash
  • identify an Eligible Validating Entity that will complete the qualification activities to validate the quality, functionality and intended behaviours of the product, process, or service
  • demonstrate matched funding

MVP Project Examples

Examples of MVP Ventures Program projects:

  • prototyping and piloting studies
  • development of current products through the implementation of new technology that will enhance competitive capability

Do you know what it takes to get this grant? We do!

MVP Ventures Program

 

Eligible Applicants

To be eligible for the MVP Ventures Program, your business must:

  • have an ABN and be non-tax exempt
  • have headquarters in NSW
  • undertake the project in NSW
  • hold IP
  • have under $1M in revenue for the past 3 years
  • have less than 20 staff 

 

MVP Priority Industries

The industries that are most likely receive funding are guided by the NSW Industry Development Framework.

  1. Agriculture and agrifood
  2. Resources
  3. Defence and aerospace
  4. Clean energy and waste
  5. Medical and life sciences
  6. Digital systems and software
  7. International education
  8. Visitor economy
  9. Advanced manufacturing
  10. Biotechnologies
  11. Digital technologies

Your competitors are going to beat you to this grant

MVP Ventures Program

 

MVP Ventures Program Application Form

Overview
When approaching the sections of your MVP Ventures grant application, it’s crucial to communicate your ideas clearly and effectively within the word limits provided. 
These are the main sections of the application form you need to address:

  1. Title – Provide a name for your initiative. Your title should be short but descriptive (25 words)
  2. Brief description –  Include a brief summary of who will benefit from this initiative, what activities you will do and what outcomes you expect from your activities (50 words)
  3. Innovation – Please describe the innovative product or process that you are intending to commercialise. (250 words)
  4. Characteristics – Please describe the innovative technical characteristics of your product or process (250 words)
  5. Uniqueness – Please identify and detail how the above mentioned technical characteristics are new or significantly different from existing competitor products or processes.

1. Title (25 words)
Your title should be straightforward and descriptive, clearly reflecting the main idea of your project. It’s important to make it memorable but keep it simple.

2. Brief Description (50 words)
Here, quickly summarize who will benefit from your project, what you plan to do, and what you hope to achieve. This summary should be easy to understand and to the point.

3. Innovation (250 words)
In this part, explain what’s new or different about your product or process. Focus on why it’s innovative, such as a new approach or improvement over existing solutions. Make sure to clearly state how your idea stands out.

4. Characteristics (250 words)
Describe the special technical features of your product or process. Focus on what makes it unique or better compared to others. This is your chance to get into the technical details, but keep it as clear and concise as possible.

5. Uniqueness (250 words)
Finally, highlight how your product or process is different from or better than what’s already out there. Explain why these differences matter and how they give your project an edge over competitors. Try to be specific about what sets your project apart. 

 

Or you could just copy my homework!

MVP Ventures - Application Form

Timing

Applications open 4 December 2023 and close 30 April 2024.

  • Stage 1 – EOI – Applicants will be notified within 15 business days whether they progress to Stage 2. 
  • Stage 2 – Detailed Application – Applicants will be notified within 30 business days of the success. 
  • The processing of applications will experience delays due to the unexpectedly high volume received.

More Information

Additional information to include

You will also need to provide:

Have you also considered the R&D tax incentive grant?

MVP Ventures Program

Recipients

These companies have received the MVP ventures program grant. It is worth evalulating yourself against these companies to see if you think your company and innovation could beat them.

XtreamCompute has developed a world-leading alternative data transport solution which can significantly lower latency (lag), with high reliability, and throughput.

XtreamCompute enables ultra low latency, high reliability frame-by-frame content delivery for cloud gaming, cloud AR/VR and 3D world applications, lowering the infrastructure costs and delivering an exceptional user experience.

One of the significant problems with Internet communications is minimising network congestion. This impacts the applications user experience and can be critical for overall user engagement. There are a number of traditional techniques, however, we want to study the use of Machine Learning to overcome congestion. Compared with traditional congestion control algorithms which are typically rule-based, capabilities to learn from historical experience are highly desirable.

From the literature, it is observed that reinforcement learning is a crucial trend among learning-based congestion control algorithms.

This work is to develop a number of techniques and compare their performance through AB testing. If we can determine a high performing technique we will consider the implementation of the technique into a real-time system.

XtreamCompute has developed a world-leading alternative data transport solution which can significantly lower latency (lag), with high reliability, and throughput.

IQM manufactures IoT technology to monitor and interpret data, allowing our clients to manage their businesses safely, efficiently, and profitably.

Their solutions detect and measure movement, pressure, visual information, overloading, and prevent tampering

The will commercialise a monitoring solution for overloading (BKH ESS) movement (John Holland Group) and concrete pressure pouring solutions (Peri).

IQM monitors the pouring of cement in real-time, allowing the pressure to be adjusted and maintained throughout each pour.  Sensors can provide feedback on concrete placement and vibration workmanship quality issues.

IQM’s load sensors help to prevent strain on scaffolding loading platforms, scaffolding can collapse when capacity requirements are exceeded.  IQM’s sensors monitoring scaffolding in real time, providing alerts if thresholds are overstepped. Load sensors increase safety and limit risk on construction sites.

Zeoform has developed Zeoform Micro Pulp, a sustainable manufacturing material set to revolutionise manufacturing worldwide.

Zeoform Micro Pulp is an innovative manufacturing material made from cellulose nanofibrils (CNF). It’s made by refining cellulose fibres recovered from waste or natural sources. Cellulose is in abundance on the planet and is underutilised by manufacturers who are all searching for sustainable alternatives.

Zeoform Micro Pulp can be used to make high-value applications like furniture, benchtops, sporting goods, musical instruments, and much more. Zeo IP has developed a unique knowledge in how to use pressing, 3-D spraying and other moulding and finishing techniques to create the future of sustainable manufacturing.

This project will focus on ZEOTUBES, tubular products moulded from Zeoform Micro Pulp (ZMP)

Bc House Pty Limited is a New South Wales based Australian Private Company, its ABN was registered 3rd March 2022. It is registered for GST.

It is an online platform that gives people an easy way to become qualified to purchase real estate or find property, access the necessary information and process the entire transaction on one online platform.

Centered Around You Pty Ltd is a New South Wales based Australian Private Company, its ABN was registered 8th September 2017. It is registered for GST. Based on the name, this Australian company may potentially offer personalized and holistic home and health services, with a strong focus on individual needs and preferences.

CMA is an Australian technology company founded on innovation which is constantly striving to improve the ways in which we transport bulk materials for industrial operations.

CMA started with a problem which desperately needed solving – reducing wasted time in underground material handling operations. By combining firsthand experience with imagination, the Redline underground conveyor system was born.

Subsequently, the founders joined their modularised fabrication experience with a desire to make conveyor systems more flexible and accessible, resulting in the Containerveyor.

Rather than accepting problems and inefficiencies which face our industry, CMA’s mission is to tackle them head on. Our team is not afraid of big problems. We are excited by the prospect of helping heavy industries become safer, greener, more efficient, and more productive.

Field Reporter wants to make a positive difference for those active in impact investment and supply chain sustainability. Data-driven storytelling is what we do. One tool, multiple uses. Because our world is overloaded with data. But data alone doesn’t tell the whole story. It’s simply not convincing. Field Reporter allows you to unlock the story behind the data, a business plan, a (progres)report or a label….. which makes the following possible, easier, faster and more fun: Community building & mobilization Impact reporting (beyond compliance) Bringing impact to life Fund raising Capturing & sharing best practice Monitoring & Evaluation Stakeholder engagement Improved (selection-) decisions Easy matchmaking Strengthening organizational culture

Hugo, is an AI powered smart agreements platform for freelancers and agencies.

Kintell connects people to share their knowledge and wisdom via video calls and bite-size video content.

They created a self-serve insight video production for organisations

 

Zable is a digital health marketplace connecting Australian patients with healthcare professionals and services.

Booking a specialist doctor was – until now – a process that involved researching, ringing, and being put on hold while the receptionist flipped through their calendar to find availability. Oftentimes, your preferred time slot is unavailable, which means (in many cases) waiting several weeks or months to be seen – and so, booking a specialist for a consultation or procedure where and when you wanted was near impossible.

In any case, getting the care that’s right for you shouldn’t be scary or confusing. That’s why we created Zable’s healthcare marketplace — to inform and simplify your healthcare search.

Zable’s platform gives you the power to view and narrow down your provider options, along with expansive doctor profiles and convenient online appointment booking (where available). We provide the information and tools you need so you and your loved ones can choose the right care with confidence.

Vision Plus Advisory Group Pty Ltd is a New South Wales based Australian Private Company.

They received a grant for commercialization of a patented industrial waste heat recovery to electricity renewable energy technology

Overview

R&D tax funding is a faster and safer way to fund your growth

MVP Ventures Program

What is an MVP?

An MVP, or minimum viable product, is the simplest version of a new product that can be launched to get feedback from users.

The point of an MVP is to put out a basic product fast to see how people like it. This helps to make the product better based on what users say.

By starting with an MVP, companies can check if their product idea is good without spending too much time or money on making a complete product.

This helps to avoid the risks that come with bringing out a new product.

For the MVP Ventures Program grant, you should already have a product or process that’s new and not just an idea. Your product or process should be developed enough to show that it works at a basic level and is ready for further development.

The program is set up to help your product or process improve and get to a stage where it can attract big investments. It supports you throughout the journey of making your product or process better and more market-ready.

Once you complete a project with the program’s funding, you can apply again for more money. This helps you to continue improving your product or process even further.

 

 

What is the Technology Readiness Level (TRL)?

If you’re considering applying for a commercialisation grant like the MVP Ventures Program, it’s crucial to understand that the success of your application largely depends on where your project currently stands in its development lifecycle.
 
Not all stages of commercialisation are equally suited for grant opportunities, and knowing this can be the difference between securing funding or missing out.
Read more about TRL.

“It’s not about winning and losing. You know who says that? The loser.”

MVP Ventures Program

 

 

“It’s not whether you win or lose, it’s how you play the game, according to the losers and their parents.”

MVP Ventures Program

What to include in a pitch deck?

A pitch deck is a presentation that is used to provide potential investors with an overview of a business or project. It is typically used to help secure funding or investment.

When creating a pitch deck, there are several key elements that should be included:

  1. Executive summary: This is a brief overview of the business or project, including its key objectives, target market, and unique value proposition.
  2. Problem and solution: This section should explain the problem that the business or project is addressing and how it is solving that problem.
  3. Market and competition: This section should provide an overview of the target market and the competitive landscape, including the business or project’s key competitors.
  4. Product or service: This section should provide a detailed description of the product or service being offered, including any unique features or benefits.
  5. Team: This section should introduce the key members of the team, highlighting their relevant experience and expertise.
  6. Financials: This section should provide an overview of the business or project’s financial performance and projections, including revenue, expenses, and funding needs.
  7. Business model: This section should describe the business or project’s revenue model, including how it plans to generate revenue and sustain itself over time.
  8. Marketing and sales strategy: This section should describe the business or project’s plan for reaching and selling to its target market.
  9. Future plans: This section should outline the business or project’s plans for growth and expansion in the future.

Here is an example of my Pitch Deck.

MVP Ventures Program - Pitch Deck

MVP Grant

What to include in a 3-minute Pitch Video?

A 3-minute pitch video is a short video that is used to provide potential investors with an overview of a business or project. It is typically used to help secure funding or investment.

When creating a 3-minute pitch video, there are several key elements that should be included:

  1. Introduction: This is a brief introduction to the business or project, including its name, key objectives, and unique value proposition.
  2. Problem and solution: This section should explain the problem that the business or project is addressing and how it is solving that problem.
  3. Market and competition: This section should provide an overview of the target market and the competitive landscape, including the business or project’s key competitors.
  4. Product or service: This section should provide a brief overview of the product or service being offered, including any unique features or benefits.
  5. Team: This section should introduce the key members of the team, highlighting their relevant experience and expertise.
  6. Financials: This section should provide a brief overview of the business or project’s financial performance and projections, including revenue, expenses, and funding needs.
  7. Call to action: This section should include a call to action, inviting potential investors to learn more about the business or project and potentially invest.

Here is an example of what I created

What is an Eligible Validating Entity?

An Eligible Validating Entity is an independent expert that confirms a project meets Innovation criteria and progresses on the Technology Readiness Level (TRL) scale, while avoiding conflicts of interest.

 

How to find an Eligible Validating Entity?

Everyone seems to struggle with this bit for some reason.

Go straight to Linkedin!

  1. Use LinkedIn’s Search Function: Start by typing relevant keywords like “R&D Consultant” , “R&D Tax Consultant” into the LinkedIn search bar.
  2. Filter Results: Use LinkedIn’s filter options to narrow down your search. You can filter by location (aim for NSW), industry, and current companies to find individuals who are more likely to have the expertise you need.
  3. Review Profiles: Go through the profiles of potential candidates. Look for those who have experience in assessing innovation and technology readiness, particularly in your project’s specific field.
  4. Check Endorsements and Recommendations: Pay attention to endorsements and recommendations on their profiles. These can give you insights into their expertise and reliability.
  5. Evaluate Background: Ensure the individual has a background in technical assessment and is knowledgeable about the Technology Readiness Level (TRL) scale. Experience in your specific industry can be a bonus.
  6. Contact for Availability: Once you’ve identified potential candidates, send them a message through LinkedIn. Inquire about their experience in validating projects similar to yours and their availability to take on your project.
  7. Discuss Engagement Terms: If they are interested and available, discuss the terms of engagement, ensuring they can work under arms-length conditions to avoid conflicts of interest.

News

In a significant development, the MVP Ventures Program for the 2023-24 Round, reopened on 4 December 2023, has seen an overwhelming surge in applications, leading to processing delays at Investment NSW. The team, committed to diligently handling the influx, is facing challenges in meeting the initial 15-business-day response time for Expressions of Interest due to the recent holiday period. This delay underscores the burgeoning interest in the entrepreneurial and startup sectors, with Investment NSW striving to maintain high-quality reviews despite the high demand. Applicants are encouraged to remain patient as the organization works tirelessly to manage this exceptional volume of applications.

Still reading? Get the R&D and MVP grant together.

 

MVP Ventures Program

FAQ

The program offers up to $50,000 per grant, with a total annual funding pool of $3 million until 2027.

Yes, provided they meet the eligibility criteria outlined in the program guidelines.

While prioritizing NSW expenditure, overseas contractors may be eligible if their services directly contribute to the project.

Eligible expenditures include wages, consultant fees, direct prototyping materials, equipment, and other direct costs like patent filing and travel.

Payments are made in milestones: 35% on funding agreement execution, a non-financial milestone report, and 65% as the final payment.

No, only expenses incurred after the execution of the funding agreement are eligible.

A duly executed financier or investor agreement under NSW laws, dated within 30 days of application submission, is required.

Applications are accepted through deit-pd.smartygrants.com.au/MVPV23, with the portal opening on specific dates each year.

What is the #1 grant for start-ups?

12,000+ companies access the R&D tax incentive per year that yields a CASH REBATE of up to 43.5%.
This might be perfect your start up.
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