Economic & Industrial

Manufacturing given a A$30m boost

Manufacturing given a A$30m boost
Mining News Pro - The federal government on Thursday announced A$30-million in funding to support Australian manufacturing, with a focus on six priority areas, including resources technology and critical minerals processing.

Minister for Industry, Science and Technology Karen Andrews said the Commercialisation Fund will foster projects that bring industry and researchers together to commercialise new manufacturing products and processes.

“Making science and technology work for industry is one of the central pillars of our government’s A$1.5-billion Modern Manufacturing Strategy and this fund is just one of the ways we’re delivering on that,” Andrews said.

“The government is positioning Australia’s manufacturing industry at the cutting edge of innovation and this fund will help bring together the best of research and manufacturing capability to generate commercial outcomes.

“We know that by making our manufacturers more competitive and helping them to take on the world, we will create jobs for Australians, both for the Covid-19 recovery and for generations to come.”

Commercialisation Fund grants will be between A$100 000 and A$1-million and must be matched by industry. These smaller-sized grants will complement the larger projects that will be supported through the A$1.3-billion Modern Manufacturing Initiative.

Projects must include collaboration with a research partner and a minimum of one industry partner.

The fund will run over an 18-month period, and the first round of funding, which opens on Thursday, will provide A$20-million while a subsequent round will deliver the remaining $10-million.

The fund will be managed and administered by the Advanced Manufacturing Growth Centre, in collaboration with the five other Industry Growth Centres: AustCyber, Food Innovation Australia Ltd, MTPConnect, METS Ignited and National Energy Resources Australia, as well as the Commonwealth Scientific and Industrial Research Organisation.

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