Advanced Manufacturing Growth Fund
The acting Minister for Industry, Innovation and Science, Michaelia Cash, has recently announced the opening of applications for Round Two of the $47.5 million Advanced manufacturing Growth Fund.
The fund offers Victorian and South Australian firms with fewer than 200 full time equivalent employees grants between $500,000 to $2.5 million to cover up to a third of the cost of capital projects that establish or expand advanced manufacturing activities.
The program supports capital projects by small and medium enterprises that expand and establish advanced manufacturing to improve the overall efficiency and competitiveness of firms and the broader economy, using:
- advanced technologies
- design and engineering excellence
- innovative business processes.
$16.4 million in grant funding has been allocated for Round 2 of the program, with applications closing on 28 February 2018.