Investment of $1.5 billion in new funding for the manufacturing sector has been announced. Over the next four years the Modern Manufacturing Strategy is aimed at making Australian manufacturers more competitive and able to scale-up. The $1.3 billion Modern Manufacturing Initiative is the centrepiece of this strategy. The Federal Government has determined six manufacturing priority areas for their investment plan. Funding will be delivered for co-funding projects and initiatives starting in early 2021.
These National Manufacturing Priorities are:
- Resources technology & critical mineral processing
- Recycling & clean energy
- Food & beverage
- Medical products
Funding under this program will help Australian manufacturers scale-up, collaborate, and commercialise. The program is targeting three investments streams. All investment will be provided on a co-investment basis.
If you’d like to speak to our team about opportunities for your business that might arise from this initiative, please book a time with us here.