The Federal Budget in October included significant funding allocated to the re-invigorating Australia’s manufacturing sectors. More detail is becoming available on how these funds will make their way to manufacturers is starting to become available.
Manufacturing Modernisation Fund – Round 2
Co-funded grants will be available to assist with the transformation of the manufacturing process, supporting job grow.
$50 million in funds have been allocated to this grant opportunity over three years. Co-funded grants of between $100,000 and $1 million covering up to 25% of eligible project costs are available to through round 2.
Applications will open shortly, and the application window is expected to be quite small. While guidelines have recently been published, opening and closing dates are yet to be announced. You can view the guidance material here.
Our grants and incentives team are on hand to assist you with any application. Book a time with our experts here.
Modern Manufacturing Initiative (MMI)
Under the MMI, the Government has selected six manufacturing priority areas for their $1.3bn support investment plan. Funding will be delivered to co-fund projects and initiatives starting in early 2021.
These National Manufacturing Priorities are:
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1. Resources technology & critical mineral processing |
2. Recycling & clean energy |
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3. Food & beverage |
4. Defence |
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5. Medical products |
6. Space |
The program is tasked with helping Australian manufacturers to (1) scale-up, (2) collaborate, and (3) commercialise and is targeting three investments streams. All investment will be provided on a co-investment basis.
- Manufacturing collaboration (opening late in the first half of 2021)
Funding will be available for very large projects supporting business-to-business or business-to-research collaboration, building economies of scale. Grants will be provided for up to one third (1/3rd) of the eligible project costs. - Manufacturing translation (annual funding rounds beginning in the first half of 2021)
Funding will be available for manufacturers to commercialise ideas and non-R&D innovation. Grants will be provided for up to of up to 50% of the eligible project costs.
- Manufacturing integration (annual funding rounds beginning in the first half of 2021)
Funding will be available for manufacturers to integrate into local and international supply chains and markets. Grants will be provided for up to 50% of the eligible project costs.
