In an era where industry competitiveness is crucial for economic growth, the Victorian Government’s Made in Victoria – Manufacturing Growth Program Round 2 emerges as a strategic initiative. Designed to stimulate business investment in sectors where Victoria holds a competitive advantage, the Program aims to ensure a sustainable and thriving future for local industries.
Key Details of the Made in Victoria – Manufacturing Growth Program Round 2
- Grant amounts from $50k to $250k available
- Requires minimum 2:1 cash co-contribution by the applicant
- Applications open at 9am on 31 October 2023
- Applications must be submitted online in the application portal by 5pm (AEDT) on Tuesday 19 December 2023
- Successful applicants will need to complete the project activities within 12 months of the date of the grant agreement
The Program targets small and medium manufacturers with an existing presence in Victoria to:
- expand their capacity and capability by implementing new manufacturing technologies
- improve productivity and competitiveness in local and global supply chains
- create new jobs, upskill and reskill workers
- support Victoria’s transition towards net zero emissions.
It provides financial support in the form of matching grants ranging from $50,000 to $250,000, with a mandatory cash co-contribution requirement of $2 for every $1 granted.
Eligible grants will support the purchase and commissioning of capital equipment and associated project expenditure related to manufacturing product and process improvements, prototyping, evaluation and testing of new products and processes, and supply chain capability development.
The Program is open to small to medium-sized enterprises (SMEs) that are on a growth trajectory and require support to expand their manufacturing operations.
To Qualify, applicants must:
- Hold a Valid (ABN).
- Be registered for WorkCover insurance with WorkSafe Victoria.
- Be currently engaged in manufacturing or the manufacturing supply chain, or demonstrate a genuine commercial connection to the manufacturing supply chain in Victoria.
- Employ at least 20 FTE (full-time equivalent) staff or have an annual turnover of greater than $1.5 million.
Projects must clearly demonstrate how the funding will enable job creation and boost productivity through the investment in new technologies and processes.
Projects that also demonstrate transition to employment security or higher value jobs and skills development will be highly regarded.
The purchase and commissioning of capital equipment, and expenses related to manufacturing product and process improvements, prototyping, evaluation and testing of new products and processes, and supply chain capability development are covered under the grant.
Expenditures Eligible for Grant Funding
Eligible project expenditure includes:
- capital expenditure (e.g., manufacturing machinery, equipment, and technology);
- other project-related non-capitalised expenditure (e.g., related to product and process improvements,
- evaluation and testing of new products and processes, technology development and supply chain capability development)minor building alterations and fit-out costs;
- training specific to the technology (external costs only); and
- labour and contractors related to the delivery of the project (but do not include internal salaries).
Understanding the Assessment Criteria
Competitive projects will meet all the eligibility criteria and score highly against the following assessment criteria:
Project Need and Outcomes (40%)
- Applications should clearly demonstrate:
- Why government funding support is critical to deliver stated outcomes
- How the project will create new skilled jobs and facilitate upskilling
- How productivity and competitiveness will be enhanced through new technologies/processes
Applicant Capability and Commitment (30%)
Applications must communicate:
- Track record successfully delivering similar projects
- Adequate resourcing and capabilities to execute the project
- How project activities will meet milestones within 12 months
Sector and Environmental Contributions (30%)
Applications should outline how the project will:
- Develop products/components for new or emerging export markets
- Strengthen domestic manufacturing supply chains
- Drive energy efficiencies and support emissions reductions
Grant Funding and Co-Contribution
- The program provides grants on a 1:2 basis (between the government and successful applicant). Grants of between $50,000 and $250,000, excluding GST, are available on a competitive basis.
- Applicants will be required to provide quotations and estimates in support of their applications. Funding will not be provided for retrospective activities,
- The co-contribution must be in cash; in-kind contributions are excluded. Further, funds from other Victorian or Commonwealth Government programs cannot form part of the co-contribution but can form part of the total project value.
Make the Most of This Opportunity
The Made in Victoria – Manufacturing Growth Program Round 2 represents an opportunity for business owners to secure substantial funding to implement game-changing investments.
Tap into government financial support by preparing a competitive Made In Victoria grant application. NOAH Connect offers end-to-end support for manufacturers looking to strengthen their applications.
Our assistance includes:
- Assessing project suitability for the program
- Drafting grant application content
- Assisting with the preparation of supporting documentation
- Grant process guidance and submission
If you are considering applying for a The Made in Victoria – Manufacturing Growth Program Round 2, leverage our expertise to put your best foot forward. Contact us today for an obligation-free discussion about securing funding for your growth project.