Round three of funding for the Victorian government’s Investing in Manufacturing Technology will be open for applications next week, with businesses encouraged to apply for assistance in harnessing productivity-boosting and cost-cutting new technologies.
Applications for the co-investment (with grants worth up to $250,000 and applicants needing to spend 75 per cent on their proposed eligible product expenditure) IMT scheme will be accepted from March 12 until COB April 12. Grants are applied for on a competitive basis, and according to the Victorian government, 19 of the state’s manufacturers have benefited from $3.4 million in grants.
Shane Infanti from the Australian Manufacturing Technology Institute Limited (AMTIL ) lauded both the IMT and the federal government’s Clean Technology Innovation and Investment Program as critical to the country’s manufacturing future.
“We applaud the current efforts and look forward to our members taking advantage of the opportunities the programs present,” he said in the statement.
AMTIL advises its member to seek advice in learning which productivity-boosting grants they are eligible for.
“Manufacturers need to be aware of the productivity improvements that can be made by effectively utilising the latest technology,” he said. Infanti added that the upcoming Austech expo, held alongside National Manufacturing Week (May 7-10 in Melbourne this year), was an ideal place for the country’s manufacturers to be in touch with technology suppliers.