NSW manufacturers can apply for grants of up to $50,000 under a new state government program aimed at helping businesses investigate the adoption of advanced manufacturing technologies.
In a news release, Investment NSW said the first stage of the Innovative Manufacturing Adoption Fund (IMAF) is focused on discovery and feasibility, supporting studies, pilot projects and early testing before businesses commit to new technology investments.
The Stage 1 grants range from $10,000 to $50,000, with the NSW Government funding up to 50 per cent of eligible project expenditure. Applications opened on August 20 and close on October 6 at 5pm.
According to Investment NSW, the program is intended to strengthen the capability, productivity and competitiveness of NSW manufacturers, while supporting businesses to improve efficiency, develop advanced manufacturing capabilities and pursue higher-value work.
Eligible applicants must be Australian corporations headquartered in NSW, operate a manufacturing facility in the state and have between 10 and 100 full-time equivalent employees. Businesses must also have recorded turnover of at least $1 million in each of the two financial years before applying and provide a minimum 50 per cent cash co-contribution.
The fund targets manufacturers supplying sectors including construction and building products, clean energy products, transport and rolling stock, defence and aerospace, health and medtech, advanced electronics, mining equipment and services, agriculture, and food and beverage manufacturing.
Funding can be used for activities such as feasibility studies, business case development, prototyping, process testing, assessment of equipment or software, and certification and compliance requirements. At least 75 per cent of the project budget must be allocated to an external consultant or manufacturing service provider, while up to 25 per cent can cover eligible internal wages.
Investment NSW said the projects must produce an evidence-based report assessing the technical feasibility and commercial viability of the proposed technology and recommending a pathway for adoption. The report will also form the basis for consideration under a potential Stage 2 program.
The funding does not cover the purchase or lease of machinery and equipment, capital works, general operating expenses, internally produced business cases or activities that began before an application was submitted.
The program is administered by the NSW Premier’s Department, with successful applications to be decided by the Minister for Industry and Trade, subject to available funding.
An AMRF Connect briefing session focused on the fund is also being promoted for manufacturers seeking information about the program and application process.
