The AUKUS agreement offers Western Australian businesses a unique opportunity to expand beyond traditional sectors and access international markets with tariff-free trade privileges.
To help businesses seize these opportunities, the Australian government is rolling out several grants, funding and training programs, and equipment investment initiatives to upskill workforces and enhance operational capacity.
What is AUKUS?
The AUKUS deal is a trilateral partnership involving Australia, the United Kingdom, and the United States primarily aimed at improving regional security and advancing military technology.
Beyond defence, AUKUS presents substantial opportunities for Australian businesses to integrate into the global supply chain, tapping into areas like robotics, advanced manufacturing, cybersecurity, and more.
Common Misconceptions Holding Businesses Back
Many businesses hesitate to get involved with defence opportunities due to common misconceptions:
- “My business is too small.”
- “I have to operate from a major city.”
- “Startups can’t engage with Defence innovation programs.”
- “Opportunities aren’t available for my industry.”
However, AUKUS-related programs cater to businesses of all sizes and sectors.
Whether you’re a small business, a startup, or are in WA (including regional areas), there are numerous pathways to get involved.
Grants, Funding and Training Programs for Businesses
Defence Industry Development Grant Program (DIDG)
This DIDG Program offers up to $39 million in grants annually over four years to assist eligible Australian businesses in enhancing their capabilities.
The Defence Industry Development Grants Program funds four distinct grant opportunity streams tailored to address the program outcomes:
- Sovereign Industrial Priorities
- Skilling
- Exports
- Security
Learn more, including eligibility criteria, key dates, further information about each stream and how to apply.
Government Grants and Funding
There are a range of government grants and funding opportunities available to support businesses to grow to meet Defence capability needs, join defence supply chains, promote innovation, improve Australia’s defence and national security capabilities, and support defence research.
This guided search will help you find government grants for business owners in Australia, as well as funding and support programs.
Training and Upskilling Support
To meet the evolving demands of AUKUS, businesses can access various government-supported training programs to upskill their workforce, particularly in critical areas like advanced manufacturing, robotics, AI, and cybersecurity.
Here are a few examples:
Defence Industry Development Grant Program (DIDG)
The Skilling stream under the DIDG helps Australian defence industry to upskill and train in priority trade, technical and professional skillsets to develop a workforce with the right mix of qualified and experienced personnel to meet Defence requirements.
Australian Apprenticeships Incentive System (AAIS)
The AAIS provides businesses with incentives to hire apprentices and trainees in high-priority areas such as advanced manufacturing, cybersecurity, and automation, with wage subsidies and bonuses to support workforce development.
Developing Western Australia’s workforce
The Western Australian Department of Training and Workforce Development works with stakeholders across government, industry, and the community to establish strategies and programs that build WA’s workforce to meet economic and community needs. This includes financial incentives and support are available to business and employers.
Cyber Security Skills Partnership Innovation Fund (CSSPIF)
The CSSPIF program supports partnerships between industry and training providers to deliver practical cybersecurity training and skills development. Round 2 is closed, however keep an eye out for future opportunities.
Dollar-for-Dollar Equipment Investment Grants
Several government programs offer grants that match business investments in new technology and equipment. These grants can help SMEs enhance their operational capacity and increase their competitiveness in the AUKUS supply chain.
Applicants must typically prove how the equipment will enhance sovereign industrial capabilities and demonstrate financial viability.
Staying Engaged and Leveraging AUKUS Opportunities
By staying engaged, businesses can stay current with the latest developments and seize new opportunities in the AUKUS space.
- Review the Defence Industry Development Grants website
Review the DIDG website or opportunities, key deadlines and to check your business’s eligibility.
- Monitor government portals
Monitor GrantConnect, Business.gov.au and WA Defence Sector Grants and Funding for federal and local grants, funding and support programs.
- Get involved by registering your interest
Opportunities will emerge over the coming years as the nuclear-powered submarine program evolves. Register your interest to become an Australia’s Submarine Company (ASC) Supplier.
And stay connected with the Australian Submarine Agency (ASA) by registering your interest and completing their Supplier Capability Questionnaire EOI.
- Join industry associations & groups
Groups like the Defence Teaming Centre, AIDN (Australian Industry and Defence Network AIDN) and Advanced Manufacturing Growth Centre offer networking and updates on events and funding.
Becoming a AUKUS Connect member can gain you access to information, knowledge, connections, insights and more.
- Attend networking and industry events
Keep an eye out for key industry events locally and across Australia that provide opportunities to learn about industry and AUKUS developments.
- Engage with local resources
Defence West, Chamber of Commerce and Industry WA (CCIWA) and Invest and Trade WA offer localised opportunities, information, training and support to help WA businesses stay informed and enter the defence supply chain.
- Get involved in the WA Industry and Export Awards
Leverage the WA Industry and Export Awards to stay connected with other successful exporters, networking opportunities and exposure to government funding programs.
- Collaborate with others
Consider collaborating with other businesses to meet the technical and logistical requirements for AUKUS-related projects.
- Contact the team from Ledge Finance
Our team is here to assist WA businesses and businesses Australia-wide in navigating this transition, including accessing government grants and other supports.
Practical Steps for Businesses
- Evaluate your business to determine whether your products or services align with defence or advanced manufacturing sectors.
- Explore available opportunities and grants through government portals.
- Complete the Defence Business Readiness Tool.
- Obtain necessary accreditations, such as membership in the Defence Industry Security Program (DISP), which might be required to engage with Defence contracts. DISP membership is open to any Australian entity looking to become part of the Defence industry supply chain according to the eligibility criteria.
- For tailored advice and guidance, contact Ledge Finance today.
By leveraging government grants, upskilling opportunities, and industry networks, WA businesses can position themselves at the forefront of Australia’s defence transformation under AUKUS.
Please note that the information provided here is general and does not constitute financial, tax, or other professional advice. You should consider whether the information is appropriate for your needs and seek professional advice before making any decisions.
