AMGC creates $4 million fund for SME manufacturers
The Advanced Manufacturing Growth Centre has announced a new $4 million Advanced Manufacturing Early Stage Research Fund to help Australian manufacturers take their concepts from the drawing board to the prototype stage.
Supported by the Commonwealth Government, the fund will run until 2020/2021 and offer up to $1 million every year to back industry-led, small scale and pilot research projects which aim for fast, tangible results.
Grants for each project will range between $100,000 and $400,000, and must be matched with industry cash contributions, to help smaller firms move an idea more quickly to larger-scale research or commercialisation.
“Companies with promising ideas needing a nudge up the Technology Readiness Level scale should submit their expressions of interest in this new program,” said Dr Jens Goennemann, the AMGC’s Managing Director, in launching the scheme.
“As with the larger projects supported by the AMGC Project Fund, successful projects will align with the Growth Centre’s strategic priorities for advancing Australian manufacturing, and help companies transform in areas such as technical leadership and services.”
The new fund will focus on projects with a Manufacturing Readiness Level and/or Technology Readiness Level of between 1 and 4. Companies which offer successful expression of interests will then be invited to prepare a full application.
Funding for the four-year grants program was announced as part of the 2017/2018 Budget as part of the $100 million Advanced Manufacturing Fund.
AMGC is an industry-led organisation established through the Australian Government’s Industry Growth Centres initiative to help develop an internationally competitive, dynamic and thriving Australian advanced manufacturing sector.
The Industry Growth Centres Initiative looks to drive innovation, productivity and competitiveness by focusing on areas of Australian competitive strength and the nation’s strategic priorities.
