Future Industries Fund – Manufacturing ProgramOverview
This program seeks to assist Victorian based companies that are intending to implement new manufacturing technologies and process. It is an initiative under the $200 million Future Industries Fund, as part of the Victorian Government’s Back to Work Plan to create 100,000 jobs and get Victoria back to work.
The objectives of the program are to:
- Generate sustainable new local jobs, including high-value jobs.
- Improve productivity and international competitiveness.
- Target growth opportunities.
Grants of up to $500,000 or up to 25% of eligible project expenditure are available. All grants must be matched by a minimum cash co-contribution of $3 for every $1 granted.
The program has a two-stage application process:
- Expression of interest (EOI): Closed 6 July 2018.
- Formal applications (by invitation from the department): Closed 1 August 2018.
As announced in the 2017-18 State Budget, the Victorian Government committed an additional $5 million to boost this program, building on the $13 million announced last year.
Eligible applicants must:
- Have an Australian Company Number (ACN).
- Have an Australian Business Number (ABN).
- Be a business that is investing in its Victorian manufacturing operations.
- Have the ability to meet the co-contribution requirement ($3 for every $1 granted).
- Provide financial reports for the last three financial years to enable the Department of Economic Development, Jobs, Transport and Resources (DEDJTR) to conduct a Financial Risk Assessment (FRA).
Joint applications are acceptable, provided they have a lead applicant who is both the primary project proponent and an eligible applicant.
Please refer to the Guidelines for the list of ineligible applicants.
Eligible projects include those that will deliver on the program objectives by undertaking activities such as:
- The purchase and implementation of capital equipment (recorded as fixed assets in the applicant’s accounts).
- Manufacturing product and process improvements.
- Prototyping, evaluation and testing of new manufacturing products and processes.
- Supply chain capability development.
Any other activities will be considered on a case-by-case basis.
Please refer to the Guidelines for the complete information on eligible/ineligible expenditure.
The main assessment criteria include:
- Impact of the project on employment and skills.
- The level of economic benefit the proposed project will bring to Victoria.
- The demonstrated skills, experience and resources available to the business to successfully undertake the project.
- Value for money.
- Need for government support.
Please refer to the Guidelines for the complete information of the assessment criteria.
- Research & Development
- Business Support
|Project Plan Template||2017-12-09||Download|
|Sample Application Form||2017-12-09||Download|
Use these documents as a guide only - always get the latest direct from the Administrator