AMGC co-funds industry projects to commercialise innovation. In this way, approved industry projects demonstrate how, and the techniques, Australian manufacturing can become more globally competitive. AMGC currently has two funding grants available:
– Advanced Manufacturing Ecosystem Fund
– Commercialisation Fund
AMGC’s Commercialisation Fund of $30 million is soon to be fully allocated. Therefore, it is highly recommended that applications are completed and submitted as soon as possible. At the same time, this shortage in funding deems that the Fund has become more competitive in nature. This means that funding will be allocated to where applications show:
– Significant job creation
– Manufacturing of innovative products in Australia
– Globally competitive products with export potential
– Sound business models with good value propositions
– Suitable finance arrangement to fund your portion of the project costs
AMGC’s Commercialisation Fund will co-fund projects that focus on the six National Manufacturing Priorities recently announced by the Australian Government as part of its Modern Manufacturing Strategy.
GRANT AMOUNT AND GRANT PERIOD
For this grant opportunity, $30 million is available from 2020-21 to 2022-23.
The grant amount will be up to 50 per cent of eligible project expenditure (grant percentage).
– The minimum grant amount is $100,000
– The maximum grant amount is $1,000,000.
You are responsible for the remaining 50 per cent of eligible project expenditure, plus any ineligible expenditure. Your contribution must be in cash. You cannot use funding from other Commonwealth State, Territory or local government grants to fund the balance of your project expenditure not covered by the grant.
Who is eligible?
To be eligible, you must:
– Have an Australian Company Number (ACN)
– Have an Australian Business Number (ABN)
– Be non-tax-exempt
– Be registered for the Goods and Services Tax (GST); and
– Be an entity incorporated in Australia, including startups and a trading corporation, where trading activities form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation or are a substantial and not merely peripheral activity of the corporation.