TAS Advanced Manufacturing Business Improvement Program
- Applications open until: 30 June 2024
- Grants up to: $20,000
The Advanced Manufacturing Business Improvement Program aims to support Tasmanian-based advanced manufacturing enterprises to undertake business improvements that will drive growth, efficiencies, competitiveness, and sustainability.
Assessment is based on the quality of the information provided by the applicant at the time of submission against the assessment criteria. All applications are subject to a merit process, based on the following criteria:
- Demonstration that the applicant is an advanced manufacturer or has the potential to become an advanced manufacturer with the proposed project.
- Demonstration of why the proposed project is required.
- Demonstration that the proposed project will do a minimum of one of the following:
- drive business growth
- generate efficiencies
- improve competitiveness
- enhance sustainability.
- Demonstration of projected outcomes.
What is eligible for funding?
The program provides a reimbursement of up to 50 per cent of approved project costs up to a maximum of $20,000. Eligible project expenditure cannot be retrospective.
Eligible projects include advice on improving business sustainability, lean management, business, governance and succession reviews. Examples of eligible expenditure include the following:
- Advice on strategies associated with new processes or systems, lean manufacturing, change management or supply chain efficiencies.
- Advice on improving business sustainability through benchmarking and the identification of cost benefits by implementing carbon and waste reduction initiatives
- Business, governance and succession reviews, strategic planning, and process planning.
What companies are eligible for funding?
To be eligible for financial assistance from the program the applicant:
- must be able to demonstrate that they are a Tasmanian-based advanced manufacturing enterprise, or a relevant industry group supporting Tasmanian advanced manufacturing enterprises
- must have an Australian Business Number and be registered for GST
- cannot receive more than $20,000 per financial year under this program
- must have annual sales turnover greater than $175,000 (indicatively) and less than $50 million
- must not be a consultant or intermediary; and
- must not be subject to any legal disability, including bankruptcy or liquidation.
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.