The $50 million Manufacturing Modernisation Fund has been launched by the Commonwealth Government to support manufacturers to modernise and grow.
The grant program will support small and medium Australian manufacturing businesses and includes:
- $20 million for small scale grants of between $50,000 to $100,000, with industry to invest $1 for every $1 from government to support technology and efficiency improvements (expected to benefit up to 250 businesses)
- $30 million for large scale grants up to $1 million, with industry to invest $3 for every $1 from government to support more transformative investments in technologies and processes (expected to benefit up to 100 businesses).
Examples of transformative technologies include 3D printing, robotics and automation, advanced materials, artificial intelligence and machine learning, and nanotechnologies.
This presents a great opportunity to work with Victorian manufacturers that are positioning to invest in these areas.
For details please see: https://www.business.gov.au/assistance/manufacturing-modernisation-fund