The Morrison Government has announced a new $30m support fund as part of the $1.3b Modern Manufacturing Initiative, aimed at supporting the manufacturing sector to commercialise projects faster.
Importantly, projects for the commercialisation fund must still fall within the Government’s manufacturing priority areas of Medical Products, Food and Beverage, Resource Technology and Critical Minerals, Clean Energy & Recycling, Defence, and Space.
- The new grants will be between $100,000 and $1 million and must be matched by industry.
- Projects must include collaboration with a research partner and a minimum of one industry partner.
- Funding rounds will run over an 18-month period.
- Round one funding opened on 11 March 2021 will provide $20m in grants,
- Round two – dates to be announced – will provide the further $10m in grants.
The fund will be managed by the government’s Advanced Manufacturing Growth Centre, in collaboration with peer organisations including AustCyber, Food Innovation Australia, MTPConnect, METS Ignited and National Energy Resources Australia.
Eligibility for this grant will be assessed on the following criteria:
- Collaboration and networking with other businesses to develop a product and establish market potential.
- Collaborating with research and technology hubs/centres to test ideas and share knowledge.
- Engaging external professionals to provide commercialisation and market advice, such as identifying market opportunities and developing a market strategy.
- Creating distribution strategies, such as market entry pathway and identifying domestic supply chains.
- Developing a product for commercialisation using high-value manufacturing techniques or processes such as rapid prototyping or using a state-of-the-art manufacturing plant.
- Acquiring, constructing, installing and commissioning new machinery and equipment to facilitate the project (limited to 25% of grant funding)
- Research collaboration as it relates to the validation/viability of later stage commercialisation, and
- Approved production and post-production manufacturing activities related to commercialisation.
On announcing the new commercialisation fund, Industry, Science and Technology Minister Karen Andrews said that this new fund will support AMGC’s vision to transform Australian manufacturing to be internationally competitive, dynamic and thriving – and to support Australia from being a lucky country to a smart one.