Under the Modern Manufacturing Strategy, Australian manufacturers will be encouraged to collaborate on major job-creating projects with $800 million in federal government funding.
This was announced in the recently published guidelines for the Collaboration Stream of the Modern Manufacturing Initiative, allowing between $20 and $200M in funding for large-scale projects. This will cover up to 33 per cent of eligible project expenditure.
The Collaboration Stream will spawn investment in projects enabling manufacturers to scale-up operations and generate jobs, targeting projects within the National Manufacturing Priorities, according to minister for Industry, Science and Technology Christian Porter.
“Australians know that strong, successful manufacturing businesses make for a stronger country,” Porter said.
“We want to co-invest in transformative, industry-led proposals that will spur private sector investment, encouraging our manufacturers to draw on each other’s strengths and harness our world class research.
“The Collaboration Stream is the largest component of our Modern Manufacturing Strategy and focuses on long-term transformation in the National Manufacturing Priority areas to support job creation and investment in Australian manufacturing,” he said.
The $1.5 billion Modern Manufacturing Strategy also supports Australian manufacturers in building resilience and becoming more competitive. The Strategy will harness Australian manufacturing capability and drive our economic recovery from COVID-19.
Project funding under the Collaboration Stream will support business-to-business and business-to-research collaboration across the federal government’s six National Manufacturing Priority areas – medical products, clean energy and recycling, food and beverage, defence, space and resource technology and critical minerals.
Applications will be available for lodging between 11 August and 9 September.
The Collaboration Stream guidelines can be viewed at: www.business.gov.au/mmic
For more information on the Collaboration Stream and how it fits under the Modern Manufacturing Strategy, visit: www.industry.gov.au/manufacturing