28 July 2021 - IP SPOTLIGHT

Supply Chain Res i l ience Ini t iat ive ($107.2 mi l l ion) The Supply Chain Resilience Initiative will aim to help Australia address identified gaps in critical supply chains. As well as being a part of the Government’s JobMaker plan, the initiative is developed to identify and address vulnerabilities in domestic and international supply chains for critical products. Applications for this initiative is open from 1 July 2021 until 12 August 2021. Manufactur ing Moderni sat ion Fund ($52.8 mi l l ion) To modernise small and medium-sized manufacturers’ manufacturing processes, adopt new technologies, deliver quick action to unlock business investment on shovel ready projects. This funding is particularly aimed toward modern, agile and digitally-enabled manufacturers who can ‘speed up’ Australia’s economic recovery. Applications for this fund is currently closed. Avai lable funding As part of the Supply Chain Resilience Initiative, funding for businesses to invest in capabilities to address supply chain vulnerabilities is open for application until 12 August 2021. The Supply Chain Resilience Initiative provides up to $2 million to establish or scale a manufacturing capability or a related activity. To be eligible, you must be a manufacturing business or a business within the manufacturing supply chain in the following field of critical products: More information on the eligibility and the application process for the Supply Chain Resilience Initiative can be found here. In addition, the Advanced Manufacturing Commercialisation Fund is presently open for application until 30 June 2022. This fund of up to $1 million is for small to medium manufacturing enterprises to commercialise new products and processes. The projects must align with one or more of the 6 National Manufacturing Priorities identified above. Eligible project activities include: – collaboration and networking with other businesses to develop a product and establish market potential – collaborating with research and technology hubs/centres to test ideas and share knowledge – Biopharmaceuticals (medicines) – Agricultural Product Chemicals.

Resources Technology & Critical Minerals Processing

Food & Beverage

Medical Products

Recycling & Clean Energy

Defence

Space

The Australian Government will be investing $1.46 billion, targeting six (6) specific areas of industries named the National Manufacturing Priorities, a combination of Australia’s strengths and growth opportunities: 1 The strategy focuses their investment on projects that will create collaborative environments, encourage the market to invest and partner with businesses, research organisations and governments. The key initiatives through which the funding is provided are: Modern Manufactur ing Ini t iat ive ($1.3 bi l l ion) To transform manufacturing businesses and assist them to scale-up, translate ideas into commercial success, create jobs and, integrate into local and international value chains. There will be annual funding rounds for the Modern Manufacturing Initiative in the first half of each year.

AN UPDATE ON AUSTRALIA’S MODERN MANUFACTURING STRATEGY

The following article provides an update on the Australian Government’s Modern Manufacturing Strategy and how the funding initiatives can aid businesses in this modern manufacturing sector.

What is i t? The Modern Manufacturing Strategy (the Strategy) is the Australian Government’s action plan for Australia to be recognised as a reliable, high-quality and sustainable manufacturing nation. The Strategy is aimed to not only drive economic recovery from the COVID-19 pandemic but to build national resilience.

1 https://www.industry.gov.au/sites/default/files/October%202020/document/make-it-happen-modern-manufacturing-strategy.pdf

8 | wrays.com.au

wrays.com.au | 9