The Western Australian Government has launched a new $2 million AUKUS SME Readiness Fund to help local manufacturers and defence businesses enter AUKUS supply chains, as part of efforts to create jobs and strengthen the state’s manufacturing sector.
Announced by the Cook Government, the fund will support small and medium-sized enterprises (SMEs) to compete for opportunities within United States and United Kingdom supply chains connected to AUKUS defence projects.
The funding will be delivered over four years, with eligible businesses able to receive grants covering up to 50 per cent of total costs, capped at $100,000, the government said in a news release.
According to the state government, the initiative aims to ensure Western Australia’s defence manufacturing industry continues to grow as a major contributor to the local economy.
It forms part of a broader plan to “make more things here” and diversify economic activity beyond the resources sector, the government noted.
Defence Industries Minister Paul Papalia said the AUKUS SME Readiness Fund would open new pathways for local manufacturers and defence suppliers to integrate into global supply networks.
“WA’s defence industry is set to be the State’s next economic powerhouse, providing a buffer to the cyclical nature of the resources sector,” Papalia said.
“The AUKUS SME Readiness Fund will open doors to opportunities for WA businesses and help grow the sector. By making more things in WA, we create more local jobs and diversify our economy.”
The Cook Government said the initiative follows recent ministerial missions to the United States and United Kingdom, which strengthened partnerships with governments and industry leaders involved in nuclear submarine projects under AUKUS.
In addition to the new fund, the Government announced the fourth round of its existing Defence Ready Initiative, a grant program that has already assisted nearly 50 local SMEs in improving their capabilities and accessing defence supply chains globally.
Information on applications for both programs is available through Defence West at www.wa.gov.au.
