The Australian Government has announced a new competitive grant program for the manufacturing sector.
The $50 million Manufacturing Modernisation Fund supports manufacturers through grants between $50,000 and $1m to modernise, adopt new technologies, become more productive and create more jobs by co-funding capital investments and associated reskilling.
Modernisation can include technology upgrades, efficiency upgrades, such as energy or process optimisation, or more transformative changes to your business, which will allow you to produce new products or diversify into new markets.
The program aims to:
- support investment in efficient and transformative manufacturing processes by small and medium sized enterprises (SMEs)
- support jobs growth and a more highly skilled workforce in the manufacturing sector
The program will run over 3 years and will be delivered through two streams of funding:
- an estimated $20 million for matched grants of between $50,000 to $100,000 for small scale technology and efficiency investments
- an estimated $30 million for larger grants between $100,000 to $1 million, on a three to one funding basis, to support transformative investments in technologies and processes
The closing date for the 1st round of applications closes at 5pm on the 31st October, 2019
Reach out to us today to find out how our many years of experience in grant writing, and successful applications SMIN can help you through the process of applying.