Today the Department of Industry, Science, Energy and Resources has opened for Round 2 applications for the Modern Manufacturing Fund.
If you missed our previous post on the Australian Government’s $1.5B Modern Manufacturing Strategy, which this Modern Manufacturing Fund (MMF) forms a part of, you can read more about it here.
The MMF will be open until the 21st of January for applications so if you haven’t already finalised your documentation, now is the time to do so.
Documentation published by the Department of Industry, Science, Energy and Resources last week included the grant opportunity guidelines, a sample application, and an example of the grant agreement contract. A summary of the key takeaways from these documents has been provided below.
The MMF will support approximately 150 firms within six identified National Manufacturing Priorities to fast-track capital investment to build modern, agile and digitally‑enabled manufacturers who can speed up Australia’s economic recovery as part of the government’s JobMaker plan.
This program will help businesses to:
- take on new employees
- upskill workers
- invest in new technology to support Australia’s COVID-19 recovery
- address barriers to growth and innovation
Available Funding and Support:
- Total of $50M in grant funding.
- Up to 25% of eligible project expenditure
- Total available project funding between $100,000 and $1 million.
- For projects for a maximum length of two years
Key Eligibility Criteria:
- The project must align with one of the six National Manufacturing Priorities
- Applicants must have an ABN, be non-tax-exempt and be registered for GST
- Applicants must be an entity incorporated in Australia with a significant proportion of trading activities based in Australia
- Applicants must be a SME with up to 199 employees
- Project expenditure must be a minimum of $400k
- Applicants must identify the level job creation expected from the project
- Applicants must demonstrate evidence of CEO or board support for the project
Examples of Eligible Activities for Funding 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 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.
Key Assessment Criteria:
- Demonstrate that the project will improve Australian manufacturing competitiveness and Australian job growth - worth 50 points.
- Demonstrate that you have the capacity, capability and resources to deliver the project – worth 30 points.
- Demonstrate the impact the grant funding will have on your project – worth 20 points.
You can apply for the Modern Manufacturing Fund using the link below. Further detailed information on eligibility and assessment criteria as well as the application process can be found on the same page on the business.gov.au website.