Manufacturing Modernisation Fund Round 2 – applications closing soon!
In September 2019 the Federal Government launched the Manufacturing Modernisation Fund, providing $160m of co-funded grants to assist small and medium-sized Australian manufacturers to invest in new technology, grow and create new jobs.
Round 2 of this initiative, valued at $52.8m, was announced in October 2020 and will run over 3 years
(2020-21 to 2022-23).
What is the Manufacturing Modernisation Fund?
The Manufacturing Modernisation Fund supports manufacturers by co-funding capital investments and associated reskilling to:
- adopt new technologies
- encourage innovation
- become more productive and competitive in the market and
- create more jobs.
It also supports transformative investments in technologies and processes including:
- buying, constructing, installing or commissioning of manufacturing plant and equipment
- integrating production-related software that is directly related to capital investment
- relevant training and skills development to assist integration of the new technology into the business,
including upskilling and accreditation in advanced processes
- process design and engineering directly related to the capital investment
- fit-out, alterations and/or extensions to buildings directly related to the capital investment.
The maximum project period is 2 years.
Applications close 5pm (AEDT) 21 January 2021.