The Advanced Manufacturing Accelerating Growth Program supports Tasmanian-based advanced manufacturing enterprises to become more competitive, resilient, and able to scale-up to better compete in global markets with grants of up to $100k.
Deadline and Funding Amount
- 25 Mar 2022
- 1:1 Funding between $10k and $100k
Overview and Grant Amount
The program encourages businesses to invest in innovative equipment, leading to increased employment, increased off island trade and greater economic benefits for regional Tasmania. This is open to advanced manufacturing enterprises with an annual sales turnover greater than $500k and less than $30m.
The program provides up to a 50% contribution to purchase capital equipment that can be demonstrated to meet the aims of the program. Funding can be used for purposes including:
- Conducting market and product assessments
- Salaries and access to external expertise that is directly related to delivery of the project
- Commercialisation strategies and commercial feasibility studies
- Specialist equipment or infrastructure necessary to progress the project
Eligibility and Criteria
To be eligible for financial assistance from the program the applicant:
- must be able to demonstrate that they are a Tasmanian-based advanced manufacturing enterprise
- must have an Australian Business Number and be registered for GST
- cannot receive in excess of $100k per financial year under this program
- if funding is received in 2021-22 and then any application for the 2022-23 must be a different manufacturing growth project
- if funding is approved, be able to finalise the project within 12 months
- if funding is approved, be able to demonstrate how the balance of the project will be funded
- must have annual sales turnover greater than $500k and less than $30m
- must not be a consultant or intermediary
- must not be subject to any legal disability, including bankruptcy or liquidation
Examples of expenditure that is ineligible under the program includes the following:
- reimbursement of retrospective project expenditure
- salaries and wages
- general operational business expenses including office expenses, maintenance costs, accounting, legal, compliance, government fees and software licensing (installation or upgrades)
- costs associated with patents and intellectual property
- building construction, modification or repairs
- product prototype research and development
All applications are subject to a merit process, based on the following weighted criteria, and must demonstrate of each of the following:
- current advanced manufacturing capabilities and processes, or the potential to become an advanced manufacturer with the proposed project (15%)
- market driven off island expansion opportunity (significant import replacement opportunities may be considered) (25%) o increased employment opportunities and value (15%)
- competitive neutrality – that is, the project will not be to the economic detriment of another Tasmanian-based advanced manufacturer (15%)
- level of innovation and uniqueness of the project (15%)
- other potential outcomes, benefits and beneficiaries (15%)
Applicants are strongly encouraged to do their due diligence and read the program guidelines. For an application to be approved, it must be submitted and assessed before the project commences, and must be submitted online via SmartyGrants. The online platform allows you to apply for a grant at any time while the program is open. It also allows us to send you notifications throughout the grant application and funding process.
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
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