The Minns Labor Government will give 22 NSW startups and small businesses a share of more than $1 million in funding under the second round of the 2025-26 MVP Ventures Program, helping turn innovative ideas into jobs, investment and economic growth.
The latest funding round backs NSW innovators developing practical solutions to some of the state’s biggest challenges, including housing affordability, advanced manufacturing, clean energy and health, strengthening the state’s position as the national leader in innovation.
The projects demonstrate the depth and diversity of innovation across NSW, with successful applicants including businesses that are developing modular and low-cost housing solutions for regional communities, new clean energy and wastewater technologies for industry, and advanced manufacturing innovations that improve safety and productivity.
By supporting businesses to move beyond the prototype stage and into commercialisation, the MVP Ventures Program helps ensure ideas developed in NSW deliver economic benefits for NSW.
The program provides targeted funding to help startups and small businesses bridge the critical gap between research and commercial success, accelerating their path to market and helping them attract investment.
Innovation drives productivity, supports economic growth and helps create the industries that will shape NSW’s future. The Minns Labor Government is committed to ensuring businesses and communities across metropolitan and regional NSW can share in those opportunities.
Round two MVP grant recipients include:
- Aquacultr Group – advancing a non-invasive ultrasonic technology aimed at reducing stress in fish, helping them stay healthier and perform better in aquaculture environments, such as fish farms.
- EClass Outboards – a clean technology startup developing an electric retrofit kit for petrol-powered jet skis to support the transition to lower-emissions marine transport.
- 14modular – an advanced manufacturing business applying lean manufacturing and industrialised construction to deliver high-quality modular housing at scale – faster, more efficiently, and at ever-lower prices.
- DermR Health – a medical technology company developing a less invasive way to diagnose skin cancer through its DermR® Patch microneedle technology and companion molecular diagnostic test.
Applications for round three of the 2025-26 MVP Ventures Program are currently being assessed with recipients expected to be announced later this year.
This is part of the Minns Labor Government’s plan to build a better NSW by creating more jobs and increasing productivity across the state’s economy.
For more information visit https://www.nsw.gov.au/business-and-economy/innovation/grants-and-programs/mvp-ventures-program.
Minister for Innovation, Science and Technology Anoulack Chanthivong said:
“From housing and clean energy to advanced manufacturing and health technologies, NSW innovators are developing practical solutions to some of our biggest challenges.
“The Minns Labor Government’s Innovation Blueprint is focused on turning that innovation into economic growth, new industries and high-skilled jobs, and the MVP Ventures Program plays an important role in that effort.
“Around half of this funding is supporting women-owned businesses, Aboriginal and Torres Strait Islander-owned businesses and founders in regional NSW, helping ensure the benefits of innovation are shared right across the state.”
Minister for Small Business, Janelle Saffin said:
“Small Businesses are the backbone of the NSW economy, but taking an innovative concept from the drawing board to the market is incredibly challenging in the current climate.
“By bridging that critical funding gap, the Minns Labor Government is ensuring our home-grown talent has the support it needs to scale up, stay competitive, and create the highly skilled jobs of tomorrow right here in NSW.
“Start ups are key to innovation and they inspire new products, services and so much more.”
Member for Port Stephens Kate Washington said:
“Port Stephens has a proud history of marine science research and innovation, so it’s great to see Aquacultr Group receive support through the MVP Ventures Program.
“Their technology has the potential to boost productivity and strengthen the sustainability of aquaculture operations.
“This investment will help bring a locally developed innovation closer to market, supporting jobs and economic opportunities in our region.”
Member for Kiama Katelin McInerney said:
“It’s fantastic to see a Kiama-based business receive support through the MVP Ventures Program to grow an innovative local technology.
“EClass Outboards is taking an innovative approach to reducing emissions in the marine sector, demonstrating the ingenuity and entrepreneurial spirit we have here on the South Coast.
“This funding will help the business continue developing its electric jet ski retrofit technology and take another important step towards bringing a NSW-made product to market.”
Aquacultr Group CEO Mat Goddard said:
“Aquaculture is one of the fastest-growing sources of food production globally, and advancing fish welfare and productivity will be critical to the sector’s long-term sustainability.
“This funding will help us commercialise our BioUltrasonics technology and expand its use across the industry to improve fish welfare, productivity and operational performance.”
EClass Outboards Founder Lynelle Johnson said:
“We’re developing practical solutions to help reduce emissions from recreational and commercial marine vessels without replacing existing equipment.
“The MVP Ventures grant will help us continue refining our electric jet ski conversion technology and move closer to bringing a viable zero-emissions alternative to market.”
14modular Founder and CEO David Hartigan said:
“We’re using lean manufacturing and industrialised construction to rethink how housing is delivered in Australia.
“The MVP Ventures grant will help 14modular accelerate the development of our modular housing platform and demonstrate how high-quality homes can be built faster, more efficiently and at a lower cost.”
DermR Health Founder and CEO Stefan Mazy said:
“Australia has one of the highest rates of skin cancer in the world, but clinicians still have limited tools to help identify which suspicious lesions are unlikely to be cancer. As a result, many patients are sent for biopsy to resolve uncertainty, placing them in an invasive diagnostic pathway that can involve discomfort, scarring and delays, even though many biopsies ultimately return benign.
“The MVP Ventures grant will help us advance the DermR® Patch test towards commercial readiness, bringing us closer to a faster, less invasive way to help rule out skin cancer earlier and guide the next step in care.”
