Round two of applications for manufacturing fund now open

Applications are now open for round two of the $52.8 million Manufacturing Modernisation Fund (MMF).

Backed by the federal government, the fund will support Australian manufacturers with shovel-ready projects, creating jobs and driving national recovery from the COVID-19 pandemic.

The fund will be used to invest in new technology and increase productivity among manufacturing businesses. Starting 4 December 2020, businesses may apply for grants between $100,000 to $1 million.

Minister for Industry, Science and Technology Karen Andrews said the MMF Round Two was a key element of the $1.5 billion Modern Manufacturing Strategy.

“The Morrison Government knows that manufacturing is central to our nation’s economic future and creating jobs for the recovery from COVID-19 and for future generations,” Minister Andrews said.

“In these uncertain times, we’re giving manufacturing businesses the confidence and certainty they need to invest in themselves to deliver new and innovative products and service,” she said.

“We want to deliver more products for Australians, and beyond that, we want to open up more opportunities for manufacturers to take on the world with their top quality products,” she continued.

Minister Andrews said round one of the MMF is already helping manufacturers to become more competitive and productive, with many already creating new jobs during the COVID-19 pandemic.

She said the big change between Round One and Round Two is that this time they will play to the nation’s strengths, with the projects needing to align with the National Manufacturing Priorities announced as part of the Modern Manufacturing Strategy.

The National Manufacturing Priorities are Resources Technology & Critical Minerals Processing; Food & Beverage; Medical Products; Recycling & Clean Energy; Defence; and Space.

Minister Andrews said successful businesses would be required to match any government funding at least three-to-one.

“This is part of our Government’s mantra of providing a hand-up, not a hand-out. This is about backing businesses to back themselves and grow.”

Nearly 200 projects were part of the first round of MMF applications back in April.

Applications for Round Two of the MMF will be open until 21 January 2021.

Source: Minister for Industry, Science and Technology media release