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Modern Manufacturing Initiative: Food and Beverage Grant

Food and beverage grant

Modern Manufacturing Initiative: Food and Beverage Grant

Are you an Australian food and beverage manufacturer looking for a slice of the pie when it comes to government support for your business?

Well, we have some good news for you following yesterday’s launch of the Modern Manufacturing Initiative (MMI) – Food and Beverage Manufacturing grant program.

Food and Beverage manufacturers, are seen as critical contributors to a modern Australian economy, adding significant value to all industry sectors and are included in the six key priority areas of the Federal Government’s $1.3 billion Modern Manufacturing Strategy (MMI) road map.  For food and beverage manufacturers, the funding is intended to drive the development of new products for emerging markets, discover new commercial applications and build local manufacturing capacity to drive global exports.

For this specific funding stream, the aim is to build on the international reputation of Australian food and beverage products as premium, safe and high-quality. Using this positioning, the goal is to continue to scale this sector to become a major driver for the Australian economy in the future.

Is this relevant for you? Please see below for a quick snapshot of what’s involved when it comes to applying for the grant.

 

Applications are open until 27 April 2021 5PM AEDT, if you are a Food and Beverage manufacturer looking to:

  • Manage the development of new products for emerging markets
  • Translate research into commercial applications
  • Manufacture locally and export more high value products to overseas markets.

Grants of between $1 million to $20 million, up to 50% of the eligible project expenditure (matched funding contribution must be in cash) are available presenting an opportunity not to be missed.

 

The funding comes in two streams for projects across the following areas:

MMI – Manufacturing Translation Stream

Who should apply: Businesses with projects to translate research into new or improved products or manufacturing processes with total eligible project expenditure of over $2 million.

Objectives:

  • Translate and commercialise good ideas to new and enhanced commercial outcomes
  • Adoption of new technologies and develop new process and innovations to scale
  • Overcome challenges in their sector
  • Create new manufacturing jobs
  • Increase manufacturing capability, expertise and stimulate innovation in Australian Manufacturing
  • Grow and support manufacturing networks and ecosystems to increase collaboration.

 

MMI – Manufacturing Integration Stream

Who should apply: Businesses looking to integrate their products and services into domestic and international value chains with total eligible project expenditure of over $2 million.

Objectives:

  • Support Australian manufacturing businesses to participate in local and global value chains
  • Adoption of new technologies and develop new process and innovations to scale
  • Overcome  barriers preventing identifying and accessing new value chains
  • Create new manufacturing jobs
  • Increase Australian exports through participating in global value chains, contributing Gross Domestic Product
  • Increase manufacturing capability, in relation to identifying and participating in new local and global value chains
  • Grow and support manufacturing networks and ecosystems to increase collaboration.

 

The important details and eligibility

To be eligible you must:

  • Have an ABN
  • Be non-tax exempt
  • Be registered for GST.

 

And be:

  • An entity incorporated in Australia, including start-ups and a trading corporation, where your 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.

You must also:

  • Be able to demonstrate your project aligns with one of the National Manufacturing Priorities
  • Have a minimum of $2 million in total eligible project expenditure
  • Be able to provide evidence that your project is supported by your board (or Chief Executive Officer or equivalent if there is no board)
  • Be able to provide evidence that you can meet the costs of the project not covered by the grant funding (e.g. at least $1 million cash contribution).

 

If you have a major manufacturing project in your businesses plans and believe you may be eligible for this program, please reach out to us today to discuss how we can assist and assess your suitability for this opportunity.

If you would like to discuss any other grant opportunities for other Modern Manufacturing Initiatives, please get in touch here.

 


The information contained in this blog is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases, you should consult with a professional advisor familiar with your factual situation for advice concerning specific matters before making any decisions. By reading this blog, you confirm your understanding of this disclaimer.

Sofia Braybrook
Sofia Braybrook
Want to discuss your eligibility?


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