We are pleased to advise that the Minister for Industry, Science and Technology has announced the opening of Round 2 of the Manufacturing Modernisation Fund.
Round 2 of the Manufacturing Modernisation Fund will support 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.
Round 2 has changed since the first round which closed in late 2019. Notably under Round 2, eligible projects must align with one or more of Australia’s six National Manufacturing Priorities which include:
- resources technology & critical minerals processing
- food & beverage
- medical products
- recycling & clean energy
Disappointingly, the government has also removed the “small grants” portion of the scheme which previously provided 1:1 funding of up to $50,000. Instead only the ”larger” grants are available and will provide co-funding between $100,000 and $1 million with a 1:3 co-contribution ratio (i.e. the Government will provide up to 25% of eligible expenditure and the minimum project size is $400,000).
Eligible project activities include:
- buying, constructing, installing or commissioning of manufacturing plant and equipment
- integrating production-related software that is directly related to your capital investment
- 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.
Small to medium manufacturing enterprises with up to 199 employees are eligible to apply.
We are anticipating high demand for this program so if you are interested in applying please contact us ASAP via email to schedule an initial discussion to assess your project.
Applications close 21 January 2021.