Advanced Manufacturing Business Improvement Fund

Advanced Manufacturing Business Improvement Fund

What is the Advanced Manufacturing Business Improvement Fund?

The Advanced Manufacturing Business Improvement Fund is a grant opportunity to support Tasmanian-based advanced manufacturing enterprises to undertake business improvements that will drive growth, efficiencies, competitiveness and enhance sustainability. 

 

Funding

The program provides grants of up to a 50 per cent contribution towards business improvement activities subject to the applicant contributing at least 50 per cent of the project costs.

Maximum grant assistance is $20 000. A total funding pool of $150 000 is available in 2021-22, $150 000 in 2022-23 and $150 000 in 2023-24.

Collaborative projects will be considered on a case-by-case basis. Collaborative projects will need a lead proponent such as an industry body or nominated lead business. These projects may be eligible for a greater percentage of grant funding on demonstration of industry benefit

 

Eligible Projects

The Advanced Manufacturing Business Improvement Fund provides advanced manufacturers with a reimbursement of up to 50% of approved costs towards business improvement activities, including:

  • 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.

 

Eligible Applicants

To be eligible, you must:

  • be a Tasmanian-based advanced manufacturing enterprise or relevant industry group supporting Tasmanian advanced manufacturing enterprises
  • have an Australian business number (ABN)
  • be registered for goods and services tax (GST)
  • not receive more than $20,000 per financial year under this program
  • have annual sales turnover greater than $300,000 (indicatively) and less than $20 million
  • not be subject to any legal disability, including bankruptcy or liquidation.

You may be asked to supply documentation to support your eligibility claims as part of the application process, or as part of an audit process to confirm your claims were true and correct.

 

 

Timing

Applications close 30 June 2022.

 

More Information

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