The Australian Government has announced a $30 million fund to help smaller local manufacturers turn their ideas into commercial outcomes and help create more jobs.
Minister for Industry, Science and Technology Karen Andrews said the Commercialisation Fund would 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 $1.5 billion Modern Manufacturing Strategy and this fund is just one of the ways we’re delivering on that,” said Minister Andrews.
Consistent with all programs under the Modern Manufacturing Strategy, this fund will support projects within the Government’s six National Manufacturing Priorities.
These priorities are: Medical Products, Food and Beverage, Resources Technology and Critical Minerals Processing, Recycling and Clean Energy, Defence, and Space.
Commercialisation Fund grants will be between $100,000 and $1 million and must be matched by industry. These smaller-sized grants will complement the larger projects that will be supported through the $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. The first round of funding, which opened on March 11, will provide $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 (AMGC), in collaboration with the five other Industry Growth Centres AustCyber, Food Innovation Australia Ltd (FIAL), MTPConnect, METS Ignited and National Energy Resources Australia (NERA), and the CSIRO.
For more information and to apply for a grant go to https://www.amgc.org.au/projects/
The AMGC is hosting a free webinar titled ‘Understanding the Commercialisation Fund’ at noon on March 24. Register here.