Manufacturing and Industry Development Fund – Business Competitiveness Program
The Victorian Government's $60 million Manufacturing and Industry Development Fund - Business Competitiveness Program is open to small to medium sized enterprises (SMEs) that require support to expand their manufacturing operations and continue on their growth trajectory.
- Applications Open: Now
- Grants between $50,000 – $500,000
- The program provides grants of up to 33 per cent of eligible project expenditure allocated on a competitive basis
- All grants require a minimum co-contribution from the applicant of 67 per cent of total eligible project expenditure.
This grant will support the purchase and commissioning of capital equipment (recorded as fixed assets in the applicant’s accounts) and associated project expenditure related to manufacturing product and process improvements, prototyping, evaluation and testing of new products and processes, and supply chain capability development.
Any other activities will be considered on a case-by-case basis.
What is eligible for funding?
Eligible project expenditure includes the following activities relating to the proposed project:
- Capital expenditure (e.g. manufacturing machinery, equipment and technology)
- Other project-related non-capitalised expenditure (e.g. related to product and process improvements, prototyping, evaluation and testing of new products and processes, technology development and supply chain capability development)
- Minor building alterations and fit-out costs
- Training specific to the technology (external costs only)
- Labour and contractors (but does not include internal salaries)
Eligible project expenditure must:
- Be incurred by the grant recipient within 18 months of execution of the grant agreement
- Be a direct cost of the project and
- Be exclusive of the Goods and Services Tax
What companies are eligible for funding?
To be eligible for the program, your company must:
- Operate a business located in Victoria
- Hold an Australian Business Number (ABN)
- Be currently engaged in manufacturing or the manufacturing supply chain or demonstrate a genuine commercial connection to the manufacturing supply chain
- Employ at least 20 FTE*(full-time equivalent) staff or have an annual turnover of greater than $1.5 million (preference will be given to applicants that employ less than 200 people)
- Agree to meet any co-contribution requirements with eligible cash expenditure.
Is this grant competitive or entitlement based?
Competitive. Your application will be assessed among other applications by a judging panel.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.
As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.
Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project
- Industry analysis presentation
- Competitor Analysis Presentation
- Marketing and Sales Analysis Presentation
- 3-5 year Cashflow Forecast
- 3-5 year Balance Sheet Forecast
- Cost-Benefit Analysis of Grant Funding
- End-to-end grant application including information collating, analysis and application writing
- CAPEX (Capital Expenditure) cost-benefit analysis
- Stakeholder relations and Risk Mitigation Plans
- Any other relevant forecasting that will support your application
How can I get help with my application? Or know if I’m likely to win funding?
Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.
Get the funding that your manufacturing business in Victoria needs with the help of our team.