The Australian Government has announced a $1.3 billion Modern Manufacturing Initiative (MMI) and the National Manufacturing Priorities.
Modern Manufacturing Initiative
The $1.3 billion MMI will drive lasting change for Australian manufacturers.
It will help Australian manufacturers:
It will unlock private sector investment and support manufacturers to deliver on the world stage.
The MMI will provide co‑funding for large manufacturing projects that have broad sectoral benefits across the National Manufacturing Priorities. It will unlock private sector investment across three targeted streams.
- Manufacturing Collaboration Stream
- Manufacturing Translation Stream
- Manufacturing Integration Stream
All streams will operate on a co-investment basis.
Eligible applicants will be confined to trading corporations. There will be no specific business size requirements. Funding will be focused on supporting businesses to scale.
The Manufacturing Collaboration Stream
The Manufacturing Collaboration Stream provides funding for very large projects that support business-to-business and business-to-research collaboration, to build economies of scale.
Commonwealth funding will be provided on a co-investment basis and will be up to one third of eligible project costs.
Guidelines, including detailed eligibility and merit criteria, will be available prior to the program opening.
The Manufacturing Translation and Integration Streams
The Manufacturing Translation stream will help manufacturers translate good ideas into commercial outcomes. It will also encourage investment in non-R&D innovation.
The Manufacturing Integration stream will help manufacturers integrate into local and international supply chains and markets.
Commonwealth funding will be provided on a co-investment basis and will be up to 50% of eligible project costs.
The application process for these two streams will be a one-stage process.
There will be annual funding rounds, beginning in the first half of 2021.
Guidelines, including detailed eligibility and merit criteria, will be available prior to funding rounds opening.
National Manufacturing Priorities
To turbo-charge Australian manufacturing the Modern Manufacturing Strategy will focus on areas of comparative advantage and strategic importance.
The National Manufacturing Priorities are:
- Resources Technology & Critical Minerals Processing
- Food & Beverage
- Medical Products
- Recycling & Clean Energy
The Minister announced initiatives to transform Australian manufacturing on 1 October 2020.