The$50 million Manufacturing Modernisation 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.
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.
For more information please view the Manufacturing Modernisation Fund page
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.
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
- 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
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