In the release of its second Projects Report, the Australian Manufacturing Growth Centre (AMGC) has announced that it has doubled its project capacity in the last 12 months.
Today, the industry research and commercialisation incubator is facilitating or developing more than 40 projects around Australia.
These projects have been supported with $27.1 million in funding, sourced from AMGC itself, industry and through in-kind contributions.
The outcome of these projects and increased capacity is projected to deliver over 1215 jobs and $290 million in revenue.
Since the first Projects Report, released in August 2018, a number of projects have been completed, including Quickstep’s Carbon Fibre Composite Fender project and FormFlow’s Corrugated Metal Sheet Bending Project.
Between them, these two projects have not only create jobs and revenue, but extended the enterprises’ access to markets and seen the development of world-first patented technology.
Projects that the AMGC is supporting are located in multiple states across Australia. Victoria leads with the greatest number of projects, 14, while Queensland tops investment with $10.1 million across eight projects. New South Wales, South Australia, Western Australia and the Northern Territory are also represented in the current list of projects.
The report lists projects that vary from digitisation for SME in the manufacturing sector, virtual shipyards for 3D software company Dassault Systèmes and customised orthotics developed by iOrthotics.
Taken together, the value of investment in advanced manufacturing systems, highlight the best practices currently being adopted by local manufacturers.
“If Australia is to remain a strong manufacturing nation, we must build competitive, resilient companies equipped to weather changing economic conditions. Australian businesses must seize the opportunities available to carve out a real point of difference, to create innovative products, and to apply advanced knowledge, processes and business models,” said Jens Goennemann, managing director of the AMGC.