Investing in Manufacturing Technology (IMT) promotes the growth, productivity and international competitiveness of manufacturing businesses by stimulating investment in new technologies.
IMT is a major initiative under the Victorian Government’s manufacturing strategy: A More Competitive Manufacturing Industry: New Directions for Industry Policy and Manufacturing.
Nature of Assistance
Grants of up to $250,000 are available on a competitive basis to assist manufacturers to purchase and integrate new technologies that will:
- improve productivity and competitiveness;
- strengthen capability; and
- encourage wider and ongoing innovation.
All grants require a minimum co-contribution from the business of 75% of total eligible project expenditure (i.e. $3 for every $1 granted). Eligible project expenditure includes capital expenditure and other project-related non-capitalised expenditure but does not include internal costs, salaries or resources.
Purchasing technology that is embedded in equipment and machinery should be central to proposed projects. The project should also involve integrating the technology into the business, which may also include some facility redesign and training.
IMT is not intended to support projects which primarily involve:
- routine replacement or upgrade of plant and equipment using simple technologies
- activities that would be undertaken in the normal course of business, such as capacity expansion
- (R&D) Research & Development and commercialisation.
- Possess an Australian Company Number (ACN)
- Have a manufacturing presence in Victoria
- Have at least three years trading history
- Meet the co-contribution requirement with eligible project expenditure
- Be willing to provide financial reports for the last three financial years to enable the Department of Business and Innovation (DBI) to conduct a risk assessment
IMT is delivered in competitive funding rounds. There will be three funding rounds per year. Applications will only be accepted when a funding round is open for applications.
Applications for Round One open 9am, Monday 18 June 2012 and must be submitted online by 5pm, Friday 20 July 2012.
It is anticipated that Round Two of IMT will open for applications in the fourth quarter of 2012. Further information will be provided on this page.
Irrespective of eligibility and merit there is no guarantee that an offer of funding will be made.
How to Apply
Businesses should carefully consider the proposed project’s ability to meet the program requirements and perform well against the assessment criteria before committing significant resources to developing an application. Businesses interested in applying for a grant are encouraged to discuss their proposed project with a Victorian Government Business Development Manager. For contact details call Business Victoria on 13 22 15.
Applications can only be made using the online application below. Printed, facsimile, posted or other methods of delivery of the application form will not be accepted.
All applications must be accompanied by a project plan. A template providing guidance about what information the project plan should include is attached below.
All shortlisted applicants will also be required to provide additional supporting documentation. For further information, see the Program Guidelines.
To find out how Treadstone can help you with your application call us now on (03) 9008 5937.