Up to $500,000 is available from the Future Industries Manufacturing Program for businesses implementing new manufacturing technologies and processes that generate new jobs and growth.
Future Industries Manufacturing Program
The Future Industries Manufacturing Program is an initiative under the 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 $200 million Future Industries Fund supports high growth industry sectors that are critical to securing Victoria’s future as a competitive, innovative and outward looking economy.
The Future Industries Fund identifies six sectors which have strong growth potential, including:
- Medical technologies and pharmaceuticals
- New energy technology
- Food and fibre
- Transport, defence and construction technologies
- International education and
- Professional services.
The Future Industries Manufacturing Program assists Victorian based companies that are intending to implement new manufacturing technologies and that will provide a critical foundation for:
- Generating sustainable new local jobs, including high-value jobs
- Improving productivity and international competitiveness and
- Targeting growth opportunities.
The Future Industries Fund Manufacturing Program provides grants of up to 25 per cent of eligible project expenditure, with a maximum grant of $500,000. Applicants will need to demonstrate how the project outcomes justify the grant investment.
Projects with total eligible expenditure of less than $100,000 will not be considered for this program.
Future Industries Fund Manufacturing Program applications are sought from Victorian companies investing in their manufacturing operations that meet the program objectives. Companies in the future industry growth sectors can also apply.
The Future Industries Fund Manufacturing Program supports projects 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.
Future Industries Fund Manufacturing Program applicants are required to demonstrate the need for government funding, including the likelihood of the project proceeding if the application is unsuccessful.
Joint applications are acceptable, provided they have a lead applicant who is both the primary project proponent and an eligible applicant.
Applicants must meet the co-contribution requirement with expenditure on eligible project activities. In-kind contributions are excluded (i.e. non-monetary resources).
Eligible Future Industries Fund Manufacturing Program project expenditure includes the following activities relating to the proposed project:
- Capital expenditure and other project-related non-capitalised expenditure (but does not include vehicles, internal costs or salaries)
- Manufacturing product and process improvements (including significant improvements in technical specifications; components and materials; software in the project; user friendliness or other functional characteristics; and/or new or significantly improved production or delivery methods)
- Prototyping, evaluation and testing of new products and manufacturing processes
- Supply chain capability development
- Training specific to the technology (external costs only)
- Labour and contractors (but does not include internal salaries)
- Manufacturing machinery and equipment, (for example, repurposing state-of-the-art automotive manufacturing equipment), or
- Minor building alterations and fit-out costs.
Eligible Future Industries Fund Manufacturing Program 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 (GST).
Applicants will be required to provide quotations and estimates in support of their applications. Funds from other Victorian or Commonwealth Government programs cannot form part of the co-contribution.
If applying jointly with other businesses for the Future Industries Fund Manufacturing Program, all businesses may contribute to project expenditure to meet the co-contribution requirement. However, one business (company) must be the lead applicant.
Applicants must meet all the following criteria to be eligible for assistance under the Future Industries Manufacturing Program (FIMP):
- Have an Australian Company Number (ACN)
- Have an Australian Business Number (ABN)
- Be a Victorian-based 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 (the Department) to conduct a financial risk assessment (FRA).
FRAs are undertaken by the Department to establish the financial risk exposure of the applicant, and whether the applicant is likely to remain financially viable over the duration of the project.
Future Industries Fund Manufacturing Program applications are now open.
Future Industries Fund Manufacturing Program Recipients
- Albins Performance Transmissions
- Australian Botanical Products
- Bravo Print and Design
- CE Bartlett
- Charles Sandford Woodturning & Joinery
- Crusader Hose
- Denim 108
- Dollar Sweets Company
- EcoEnergy Ventures
- El Cielo Foods
- Gekko Systems
- Guala Closures
- Hydrix S
- IDT Australia
- Kez’s Kitchen
- Lontos Fabrications
- Lovitt Technologies Australia
- Medical Developments International
- Modena Engineering Australia
- Natimuk Agricultural and Pastoral Society
- Nissan Casting Australia
- Norwood Industries
- Passion for Pasta
- Patico Automotive
- Pharmaceutical Packaging Professionals
- Planet Innovation
- Radio Frequency Systems
- RayGen Resources
- RPM Pipes
- Selectronic Australia
- South East Councils Climate Change Alliance Incorporated
- Southern Cross Ceramics
- The Product Makers
- Thirteenth Acol
- Waranga Green Energy
- Watson Engineering & Sales
- Wilson Transformers
- Zero Discharge
Victorian technology used on the frontline in the fight against terror around the world is creating jobs at home, thanks to funding from the Andrews Labor Government.
Port Melbourne company GreyScan is working towards contracts with international security agencies including in the United States and across the globe as it grows both its world-leading reputation and workforce.
GreyScan’s portable technology detects traces of inorganic materials that can be used to make home-made explosives.
Analysing swabs within 40 seconds, GreyScan’s device detects inorganic explosives and is being evaluated by authorities around the world to ultimately be used at airports, train stations and major events with demand growing.
The company will produce around 2,000 ETD devices at its new Port Melbourne high-volume facility, creating 25 jobs with plans for a further 60 in coming years. The Labor Government has backed GreyScan through its Future Industries Manufacturing Program. A total of 65 projects have won support through this program, creating 738 jobs across the state.
GreyScan already exports to 23 clients in six countries and engages with 31 Victorian companies and its success highlights Victoria’s diverse and rapidly-growing defence industry.
Victoria’s defence sector employs more than 18,500 people in 770 businesses, contributing $8 billion to the state’s economy each year.