Manufacturing Modernisation Fund
The $50 million Manufacturing Modernisation Fund is an opportunity for SME manufacturing businesses to receive funding up to $1 million.
Applications Open: Next round is expected to open sometime in November 2020, register your interest now by filling an assessment form today or calling our office on (03) 8567 7500.
• Applications Close: TBC
• Grants between $100,000-$1 million
• Funding is provided on a 3:1 basis, meaning businesses must be able to demonstrate a minimum contribution of $400,000 per project (grant covers 25% of project costs)
• Provides funding for manufacturers to co-fund capital investments and reskilling to modernise, adapt new technologies, become more productive and create more jobs
• High likelihood the next round will only be open to businesses operating within the six manufacturing priority areas: Resources Technology & Critical Minerals Processing, Food & Beverage, Medical Products, Recycling & Clean Energy, Defence and Space
What is eligible for funding?
The Manufacturing Modernisation Fund (MMF) co-funds projects that will update manufacturing processes and grow highly skilled workforces.
Capital investment and reskilling costs can be funded to
• Adapt new technologies
• Become more productive
• Create more jobs
The program will run over three years and funding is provided for:
• transformative investments in technologies and processes
• larger grants between $100,000 to $1 million
• will cover up to 25% of eligible project costs
What companies are eligible for funding?
Australian manufacturing SMEs that must:
• be an entity incorporated in Australia
• be a manufacturing SME, with up to 199 employees (headcount)
• clearly identify the level of job creation expected
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.
This fund was extremely popular in the last round so talk to an Avant Group Advisor today to assess eligibility and register your interest.