Have you ever had a great business idea or a great app idea, and you thought, “Wow! I’d like to take this forward! It’s going to make a difference. I can do something in a particular industry and I can make a change”?
Well, the NSW Government grants have delivered. Listen to Andrew Jeffers in this episode of the 2 Minute Accountant talk about your options when it comes to applying for a grant in NSW to start a small tech business.
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NSW government grants for Australian startups
The government has come out with a rehashed grant that was around about five years ago. This NSW Government grant is called the MVP (Minimum Viable Product).
If you are in the software development, you more than likely understand the acronym MVP. It is a term used to refer to the least amount of cash that you need to invest in a product or an idea in order to make it viable.
In other words, it is the cost involved in taking a product from idea to implementation, up to a point where potential clients will say, “I’ll take it.”
Very often this product or service is in Beta mode, which means it is still undergoing testing and will be improved based on customer feedback.
Beta (or the “2.0 version”) is an iteration of a particular product with which somebody’s come forward.
Launching a startup? You need three things: a mentor, the right business structure and a reality check. Learn more here.
How does the NSW government grant work?
It maximises your dollar for dollar, up to $25,000, in order to progress the idea from initial concept, to proof of concept, into your MVP.
You will need to come up with your idea, test it and talk to some regulators to see if it is viable. You might also need to do some market research and tests to see if people are interested in purchasing your product. These are all part of the things of having a proof of concept.
For example, if you were going to decide to launch balloons in NSW, you would have to go and talk to (maybe) the aviation authority and a balloon expert.
The NSW Government grant is a great grant to try out when you want to launch a new service or product to the market. It can be the little “push” you need and get you to get some funds to get that product out there.
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How to successfully apply for a NSW Government grant
Luckily for you, our team at Shuriken Consulting has extensive experience in assisting brainy business owners to launch their idea in the business space. If you want to be sure that you will get the NSW government grant for your MVP, contact us today: