The Australian government announced $1.3Bn Grants For Modern Manufacturing

Last year, the Australian Government has announced 1.3 Billion grants called Modern Manufacturing Initiative (MMI) and National Manufacturing Priorities.

The purpose of the $1.3 Billion grants is to support Australian manufacturers to expand, connect and go to market with their products. Accordingly, the program will enable the participation of the private investment sector in the form of co-funding for large-scale projects. Thus, there will be three main streams within the MMI: Manufacturing Collaboration Stream, Manufacturing Translation Stream, and Manufacturing Integration Stream. Furthermore, all businesses can apply for grants with no size requirements.

The Collaboration Stream

This stream is specifically for very large projects. In particular, businesses need to go through 2 stages of application to determine their goal development and draw attention from investors. Stage 1 is an open process calling any expressions of interest. Then successful applicants are required to submit further proposed plans.

The Translation and Integration Streams

These two streams focus more on smaller projects that seek support. The Manufacturing Translation Stream will allow businesses to push ideas into practical action and make them potentially profitable.

The Integration Stream will help widen the network for manufacturers by enabling the integration into local and global markets. This offers brilliant opportunities for domestic manufacturing businesses to scale up quickly through fruitful relationships with suppliers worldwide.

Together with the Australian Government, Aon Ari Property also supports the local manufacturing and processing businesses through our disruptive space solutions. We offer premium industrial spaces that empower the creativity and innovation of manufacturers. We work wholeheartedly with the view to bringing back the manufacturing of Australia and make it happen right here in Penrith, Australia. Ultimately, we are in the business of enhancing people’s certainty and connections for the revival of homegrown manufacturing. On top of that, we would love to have the local Made in Penrith stamp that marks the standard of locally made products.

Source: www.industry.gov.au