The Generations Fellowship will support three early career solo artists or groups to carry out six months of professional development during 2020-21.

The Fellowship will connect artists with established industry experts, support inter-generational knowledge and create career pathways within the music industry.

Create NSW partnerships and policy director Alex Bowen said that the new Fellowship will ensure that the vibrancy, culture and legacy of the NSW music industry is supported and sustained.

"We're committed to investing in the talent of tomorrow, and this exciting new partnership will share the valuable insight and experience of industry leaders, opening up doors and opportunities for our fellows across the state, country and internationally," Ms Brown said.

"Creating new opportunities that pair early career artists with the experience and networks they need to succeed will help us to develop an incredible new pipeline of talent across NSW."

Matched funding of $40,000 each from Create NSW and the Powerhouse Museum will be boosted by additional in-kind support of $20,000 from Astral People.

Three successful artists or groups will be provided with $25,000 each in financial support, studio space at the Powerhouse Museum (Ultimo) or Museums Discovery Centre (Castle Hill), with industry mentoring and networking facilitated by Astral People throughout each residency.

"The Powerhouse is committed to investing in the development of artists across NSW," Powerhouse Museum chief executive Lisa Havilah said.

"This fellowship will provide financial support and access to the Powerhouse's collection for early career contemporary musicians to further develop and expand upon their practice."

Astral People co-founder and director Vichara Edirisinghe added: "Having had the pleasure of nurturing both local and international talent across the country, the idea of growing talent through this opportunity is a really exciting prospect for us."

Applications close at 5pm on Monday, December 16.

Go to http://www.create.nsw.gov.au/funding-and-support/arts-and-cultural-funding-program/fellowships-nsw-music-generations for more information.