The Federal Government has announced today the Manufacturing Modernisation Fund. The fund provides small and medium manufacturing enterprises with co-funding of between $50,000 and $1,000,000 for capital investments and associated reskilling to modernise manufacturing processes, adopt new technologies, become more productive and create jobs. It is an online application and closes on the 31st October 2019.
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. Eligible activities may include:
Buying, constructing, installing or commissioning of manufacturing plant, equipment or software
- relevant training and skills development to assist you to integrate the new technology into your business, including upskilling and accreditation in advanced processes.
- process design and engineering directly related to your capital investment
- fit-out, alterations and/or extensions to buildings directly related to your capital investment
Other activities may also be approved.
Applications will be accepted from incorporated manufacturing small and medium-sized enterprises (SMEs) with up to 199 employees (headcount). The application must clearly identify the level of job creation expected from the project. Evidence must be provided from the organisations board (or chief executive officer or equivalent if there is no board) that the project is supported, and that it can complete the project and meet the costs of the project not covered by grant funding.