Many businesses have received grants as part of the $1.3 billion Modern Manufacturing Initiative (MMI). The aim of the MMI is to help Australian manufacturing businesses collaborate, scale up and commercialise their product offering.
In this blog we explore the MMI in more detail, the 3 different MMI funding streams and manufacturers who have received grants via MMI.
The $1.3 billion Modern Manufacturing Fund
The Modern Manufacturing Initiative is a key element of the Australian Government’s Modern Manufacturing Strategy, with the goal to enable Australian manufacturers to collaborate, integrate, and expand into wider supply chains, whilst creating jobs, and overall boosting Australia’s export potential.
Minister for Industry, Science and Technology Karen Andrews stated,
“This matched government funding is designed to support our manufacturers to become competitive, resilient and scale-up to take on the world, which will in turn create jobs for Australians – both now and for generations to come,”
“Funding from the MMI will help boost investment in the growth of the manufacturing sector, enhance Australia’s reputation, open up new markets, create new skilled jobs and increase exports.”
The initiative will run over four years, from 2021 – 2024 and will help to build Australia’s reputation as a reliable and high-value manufacturing nation.
Modern Manufacturing Initiative Funding Streams
The Modern Manufacturing Initiative consists of three key funding streams.
Translation stream
The Modern Manufacturing Initiative Translation Stream aims to help Australian manufacturers translate research and ideas into commercial opportunities and support these businesses to scale up, be more competitive and resilient.
The grants include, co-funding grants of between $1 million to $20 million, up to 50% of the eligible project expenditure.
Integration stream
The Modern Manufacturing Initiative Integration Stream assists Australian manufacturers by providing them with access to domestic and global supply chains to expand their product offering into such supply chains.
The grants include, co-funding grants of between $1 million to $20 million, up to 50% of the eligible project expenditure.
Collaboration stream
The goal of the Modern Manufacturing Initiative Collaboration Stream is to assist Australian manufacturing businesses collaborate, innovate and build economies of scale.
The grants are from $20 million to $200 million.
Who is eligible for the Modern Manufacturing Initiative?
The six National Manufacturing Priority road maps are:
- Space
- Resources Technology and Critical Minerals Processing
- Food and Beverage
- Medical Products
- Recycling and Clean Energy
- Defence
How to apply
Applications for each of these road maps have now closed, however the Government will continue to expand on those industries who are eligible over time to ensure new industry opportunities are captured within the initiative.
Australian manufacturers who have been granted
There are a number of Australian manufacturers who have been picked for the MMI grant. Avicena Systems, based in West Perth, is one of these manufacturers who has been granted $3 million via the initiative.
The local medical manufacturer is hoping to roll out a mass COVID-19 testing system into airports which will have the ability to process nearly 100,000 saliva tests per day. Plus, the results can be processed within 45 minutes.
Cyclowest is another Western Australian manufacturer who has received a $2.5 million grant through the MMI. The local medical manufacturer is currently building a facility of labs in Bayswater that will produce tracers to assist in diagnosing medical conditions. These labs will produce medical imaging that will have a longer life span to be sent nationally and overseas – enabling the business to collaborate with other medical organisations.
The company had originally planned to stage the build of the new facility, but thanks to the MMI grant, now has the ability to build it sooner.
Read the Government media release for these grant announcements here.
Government support for grants
There are many layers of Federal and State Government support for grants and it is important to keep an eye out for what grants may be available for your business. Contact your Ledge account executive to explore these opportunities. Our office is contactable on (08) 6318 2777 or email secure@ledge.com.au.
For more information on the Modern Manufacturing Initiative and to keep an eye on other State and Federal Government grant opportunities head to the following:
Business.gov – Grants & Programs
Modern Manufacturing Initiative – Manufacturing Collaboration Stream
Modern Manufacturing Initiative – Manufacturing Translation Stream
Modern Manufacturing Initiative – Manufacturing Integration Stream
