Innovation Challenges
Manufacturing Modernisation Fund
Australian Government
Summary
Owner: Australian Government
Tags: Manufacturing, Transformation, Modernisation, Technologies, SMEs
Audience: Businesses
Anticipated Funding: Up to $1,000,000
Applications close: October 31, 2019
Last Updated: September 30, 2019 4:08 AM
The Challenge
The $50 million Manufacturing Modernisation Fund supports manufacturers 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 maximum grant period is 2 years.
Eligibility Criteria
To be eligible you must:
- be an entity incorporated in Australia
- engage in trading activities that:
- form a sufficiently significant proportion of its overall activities; or
- are a substantial and not merely peripheral activity of the corporation
You must also:
- be a manufacturing small and medium-sized enterprises (SMEs) with up to 199 employees (headcount)
- clearly identify the level of job creation expected
- provide evidence from your board that the project is supported and you can complete the project and meet the costs of the project not covered by grant funding
For more information on eligibility please refer to the grant opportunity guidelines.
Terms and Conditions
For complete details on the terms and conditions that govern the Manufacturing Modernisation Fund please refer to the website.
