Aussie space industry encouraged to apply for second round of MMF grants
The Department of Industry is encouraging Australia’s space industry to apply for round two of the Commonwealth government’s Manufacturing Modernisation Fund (MMF) grants, which are now open.
Round two of the Manufacturing Modernisation Fund supports transformation in small and medium manufacturing businesses, it provides co-funded grants to transform manufacturing and to support job growth and a more highly skilled workforce – $50 million will be available for this grant opportunity from 2020-21 to 2022-23
As the first of the key initiatives to be launched under the Australian government’s $1.5 billion Modern Manufacturing Strategy, round two of the MMF is helping to modernise our manufacturing sector. It will stimulate business investment in new technologies and processes through co-funding capital investments to deliver jobs growth.
Australian businesses can apply for grants of $100,000 - $1 million to invest in new manufacturing technologies that will increase productivity, create new jobs and drive economic growth. These are all critical to Australia’s recovery from COVID-19.
Round two of the MMF 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.
The program aims to support SMEs through:
- Investment in transformative manufacturing technology and processes; and
- Jobs growth and a more highly skilled workforce in the manufacturing sector.
Round two will run over three years (2020-21 to 2022-23) and 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 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; and
- Fit-out, alterations and/or extensions to buildings directly related to your capital investment.
The maximum project period is two years.
Under round two of the MMF, eligible projects need to demonstrate alignment with one or more of the National Manufacturing Priorities:
- Resources technology and critical minerals processing;
- Food and beverage;
- Medical products;
- Recycling and clean energy;
- Defence; and
Round two of the MMF builds on the success of the previous round, which committed grant support for up to 200 projects that are expected to create around 2,600 new jobs.
Applications will be open until 21 January 2021. Further information is available here.
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