Applications open for Round 2 of NSW Government's MVP Ventures Program
The Minimum Viable Product Ventures Program is now open for the 2024/25 funding round, with grants ranging from $25,000 to $50,000.
The MVP Ventures Program provides grants to early-stage startups and small and medium enterprises (SMEs) in NSW, aiding the commercialisation of new and innovative products or processes. Applications are accepted from 1 July 2024 until 28 February 2025, or until the funds are exhausted.
The Newcastle-based startup EM Energy has been awarded funding through the MVP Ventures Program to advance its innovative green hydrogen technology. Their innovation, known as the Organic Hydrogen Electrolyser Cell (OHEC), produces green hydrogen from organic waste without needing energy or heat, offering a cleaner alternative to the conventional hydrogen production methods, which largely rely on fossil fuels.
EM Energy is currently testing and validating the OHEC technology at the University of Newcastle. The received $50,000 grant will assist the company in securing international patents and attracting further investment. The technology has the potential to significantly alter the landscape of green hydrogen production by providing a more sustainable method.
EM Energy Co-Founder, Chris Wilson, explained, "The OHEC doesn’t require any energy or heat, and instead uses organic waste and chemistry to produce green hydrogen. 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."
To be eligible, businesses must have an active Australian Business Number (ABN), be headquartered in NSW, and have an aggregated turnover of no more than A$1 million for the previous three financial years. Additionally, they must have no more than 20 full-time equivalent employees and hold the necessary intellectual property or commercialisation rights.
Projects must be related to the pre-market development and commercialisation of a product, align with the NSW Government Industry Development Framework priority industries, and demonstrate that the project cannot proceed without government support. A minimum of 50% cash contribution is required, with all funded activities needing to be completed within 12 months.
“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," said Minister for Innovation, Science and Technology, Anoulack Chanthivong.
For more insights into the 2023/24 MVP grant recipients, go here.
