The ‘Factory of the Future’ Advanced Manufacturing and Design Centre (Swinburne University) was a suitable setting for the Victorian Government’s Future Industries Sector Strategies and Sector Growth Program launch this morning (Tuesday 17 March). The Sector Growth Program will propel the government’s Future Industries agenda towards accelerating innovation, increasing productivity and securing Victoria’s long-term economic growth.

So what’s in it for my business?

The Sector Growth Program provides matched ($1 for $1) grant funding for successful projects that align with Future Industries sector strategies. These projects need to also:

• Create Victorian jobs
• Encourage collaboration among businesses
• Leverage co-investment partnerships
• Deliver Victorian business competitiveness.

Two streams of funding are available to your business if your project meets the program guidelines and eligibility criteria.

• Stream 1 – matched grants available up to $100,000 to undertake activities such as feasibility studies, supply chain analysis and environmental scanning.
• Stream 2 – matched grants available up to $1,000,000 to implement your business project (such as a demonstration plant to pilot new materials or technologies)

Businesses can apply to one or both streams. In all cases, the application must involve consortium partners with at least one Victorian small or medium enterprise (SME). Consortium partners that include diverse organisations (such as Industry associations, local government or public sector agencies, education and health institutions) will be highly valued.

When do applications open?

Consortiums can apply now to the Sector Growth Program. For further information head to the Future Industries Fund site or alternatively call Julie-Anne Sheppard on (03) 9411 4555 to discuss further.