The Federal Government’s $1.3bn Modern Manufacturing Initiative is step one in a 10 year plan to transform and diversify Australia’s economy. There is a clear recognition that Australia doesn’t commercialise well and that we have amongst the lowest rates of global supply chain participation out of the OECD nations. The Modern Manufacturing Initiative aims to correct this and to keep our manufacturing IP and capability here in Australia.

MMI support is confined to six ‘National Manufacturing Priorities’:

  1. space Read more
  2. medical products Read more
  3. resources technology and critical minerals processing Read more
  4. food and beverage Read more
  5. recycling and clean energy Read more
  6. defence Read more

Funding and co-investment for the Modern Manufacturing Initiative

In March and April of 2021, the Government opened funding applications under the $1.3bn Modern Manufacturing Initiative (MMI). This is the most generous funding program the Government will embark upon to support local manufacturers and is aimed at supporting larger projects to get up and running as quickly as possible.

The MMI will run over 4 years to 2023/24 and will co-fund projects that help manufacturers to scale up and create jobs. Projects must align with national manufacturing priority sectors and specifically with road maps developed for each sector.

Funding of $1m to $20m is available for projects on a matched funding basis, meaning the smallest eligible project must have a $2m eligible expenditure.

MMI Streams

  • Translation Stream
    Translation Stream
    Projects that translate well-developed research into commercial outcomes (new or improved products or manufacturing processes) and help companies scale-up.
  • Integration Stream
    Integration Stream
    Projects that integrate local firms into domestic and global value chains.
  • Collaboration Stream
    Collaboration Stream
    This Collaboration Stream is designed to promote long-term transformation in the National Manufacturing Priority areas.

If your project falls in one of the priority areas and you are planning or could bring forward a $2 million+ investment, these grants could be an invaluable opportunity for your business.

Additional grant programs

$30m Advanced Manufacturing Growth Centre (AMGC) Commercialisation Fund: providing up to 50% of eligible costs, this new fund is designed to complement the MMI by supporting smaller-scale projects.

Creating business opportunities through grant program

Interpack Pty Ltd

When the COVID-19 pandemic disrupted international food closure supply chains, Australian food and beverage businesses were unable to source products crucial for food storage and packaging. Interpack saw an opportunity to diversify their beverage closure manufacturing offering to service the sector. With funding needed to upgrade their facilities, Grant Thornton helped Interpack to successfully apply for grant funding through the Federal Government’s Manufacturing Modernisation Fund.

 

Please contact us to discuss how we can support your application. If MMI is not a good fit for your project we will advise alternate funding opportunities where possible.