The Manufacturing Modernisation Fund is the first of the key initiatives to launch as part of the Australian Government’s Modern Manufacturing Strategy, which aims to help Australian manufacturers scale-up, compete internationally and create jobs.
The program guidelines and key funding details have been released for Round Two of the Manufacturing Modernisation Fund.
Similar to the previous round, Round Two will target small to medium manufacturing enterprises (SMEs) with up to 199 employees. Additional eligibility criteria this round will require businesses to align with at least one of the following National Manufacturing Priority sectors:
Co-funded grants will be available between $100,000 and $1 million, covering up to 25% of eligible project expenditure. This means that to be eligible for the minimum $100,000 grant, the total project expenditure must be at least $400,000.
Applications for Round Two are currently open, with the close date being 21 January 2021 at 5pm AEDT. As this program is a competitive program, it is important to be ready to proceed with an application as soon as possible. Get in touch with your Moore Australia advisor if you would like to discuss the program further. Our team of government incentive experts can assist you in developing a competitive application.