3 Australian Manufacturing Grants You Won’t Want To Miss Out On
Right now, the Great Southern Land is investing billions into upgrading, upskilling, and revolutionising the industrial sector.
To help you benefit from the financial aid, we present three promising opportunities that you won’t want to pass up. Covering R&D, Defense, and small to medium sized businesses, you’re likely to find a valuable source for furthering long-term goals through these channels. The below is a snapshot of what’s in store – read it through carefully and find your match.
What can government grants for manufacturing offer you?
As part of the six National Priorities for industries scheme, AusGov is preparing the industrial sector for bigger, better things. The following three channels are a few avenues open for local firms. Take a look and assess the below against your venture and needs.
Emerging from an incentive by the Australian Government, this award totals $50 million. The end goal is to support small and medium-sized businesses with the means to produce more efficiently, innovate, and stimulate job growth whilst upskilling labour. CSIRO is also backing this endeavour in a bid to stimulate breakthroughs in the fields of science and technology.
To do this, the award will:
Invest in innovative and transformative technologies and processes to compete with international markets
Co-fund winning applications to cover up to 25% of projects spanning up to 2 years
Provide between $100,000-$1 million in monetary value
In order to quality, you must:
Be a small to medium sized enterprise
Employ no more than 199 staff members
The full eligibility criteria can be found here. While applications are currently closed, submissions are due to reopen in 2022 — so be sure to prepare yours in time.
The AMGC Commercialisation Fund
Intended as a push towards providing a boost for later stage projects in line with the Government’s industrial priorities, this $30 million fund fuels local development.
If successful, you will receive:
An investment of between $100,000-$1 million
18 months of financial support
To qualify, you must:
Be working with at least once research partner and one industry partner
Match the provided value dollar fordollar
Have an ACN
The good news is, there’s no limit to the amount of applications you can receive through this channel — so long as the projects aren’t running at the same time. What can we say, it pays to be innovative.
The Sovereign Industrial Capability Priority Grant
Commenced in 2020, SOMAC has been extended and is open for submissions. Stemming from the Defense Department, the investments lodged are geared towards stimulating production capabilities in line with Defense priorities across local industry.
Actions taken to do this include:
Funding of between $70,000 – $1.4 million
Up to 70% coverage on approved projects
A total maximum amount of $4.2 million per recipient over 3 years
To take up this opportunity, you must:
Be an incorporated company or trust with an ABN
Put in 30% of the project value
Have less than 200 employees working for you
Apply by June 2021
Check the full details and see whether this opportunity is in line with your company’s direction.
Apply for small business manufacturing grants now
Last year, we brought out our Australian Government Stimulus Package guide, which closes in June this year. This year, we present more options for facilitating the acquisition of new machinery in order to grow your venture.
With the state-of-the-art equipment we have on offer, our range could put you in league with the world’s greatest enterprises, whether you’re in Stone, Glass, Plastics, or Composites.
We’d especially love to equip you with machinery used by global aerospace and automotive leaders made possible thanks to our recent CMS Advanced Materials & Plastics deal.
Feel free to reach out to our team and get a free quote for any machinery or systems that you have in mind. Their insights could help you make a life-changing decision that will set you up for something great. Take your chances, and reap the rewards — you’ve got nothing to lose.