Investment NSW has been inundated with requests from startups for funding under the MVP Ventures program after it was paused for six months last year, delaying the arrival of grants to the sector.
Officials from the agency on Friday revealed almost 350 applications have been received since the program targeting early-stage startups and small and medium-sized enterprises reopened with a reduced funding envelope in December.
The sheer number of applications have resulted in delays to application processing times, Investment NSW deputy secretary Katie Knight confirmed, with the agency unable to meet its promise of a 15-day first pass assessment in some cases.
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