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Manufacturing Modernisation Fund

The Manufacturing Modernisation Fund provides up to $1 million to manufacturers to purchase new technologies to become more productive and create more jobs.

The Manufacturing Modernisation Fund will run over three years from 2019-20 to 2021-22. The program will stimulate business investment in new technologies and processes in the manufacturing sector. The Manufacturing Modernisation Fund is part the broader Government intent to support the modernisation of the manufacturing sector to incorporate advanced technologies to increase innovation and competitiveness. The Advanced Manufacturing Growth Centre has published a Sector Competitiveness Plan which outlines the following strategic priorities for the sector:

  • Advanced Knowledge: including high R&D investment and STEM skill intensity
  • Advanced Processes: including using state-of-the-art technology and managing energy use
  • Advanced Business Model: including offering high value niche solutions, servitisation models and export competitiveness.

Funding

The Manufacturing Modernisation Fund has a total pool of $50 million over 3 years, which will be delivered through two streams of funding:

  • Small Grants ($20 million) – to support technology and efficiency improvements with the value of $50,000 to $100,000 (50% funding ratio)
  • Large Grants ($30 million) – to support transformative investments in technologies and processes with the value of $100,000 to $1 million (25% funding ratio)

Eligibility

To be eligible for the Manufacturing Modernisation Fund you must:

  • Company – be an entity incorporated in Australia and a trading corporation (no trusts)
  • Headcount – have less than 200 employees
  • Job Creation – clearly identify the level of job creation expected from your project
  • Support – provide evidence from of project support from your board of CEO
  • Funding – provide evidence that you can meet the costs of the project not covered by grant funding

 For more information on eligability and how to apply please visit here

 

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