Sponsoring Agency: Business Victoria
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/20/2021
Size of the Fund: USD $50,000 to $500,000
The Business Competitiveness Program will assist small and medium manufacturers with an existing presence in Victoria to expand their manufacturing operations and implement new manufacturing technologies and processes that provide a critical foundation for generating sustainable new local jobs.
The program aims to create jobs, increase industry competitiveness, and help strengthen local supply chains in traditional and emerging manufacturing sectors where Victoria has competitive advantages.
Grant Information
• The program provides grants of up to 33 per cent of eligible project expenditure allocated on a competitive basis. The maximum grant amount is $500,000 and the minimum grant amount is $50,000. For example, a $900,000 project where capital equipment is purchased and implemented may be eligible for a grant amount of $300,000.
• All grants require a minimum co-contribution from the applicant of 67 per cent of total eligible project expenditure ($2 for every $1 funded by the Victorian Government).
• Applicants will be required to provide quotations and estimates in support of their applications and must clearly demonstrate how funding the project activities will support the creation of new jobs.
Eligibility Criteria
• The Business Competitiveness Program is open to small and medium sized businesses that are on a growth trajectory and require support to expand their manufacturing operations.
• To be eligible for the program an applicant must:
o operate a business located in Victoria
o hold an Australian Business Number (ABN)
o be currently engaged in manufacturing or the manufacturing supply chain or demonstrate a genuine commercial connection to the manufacturing supply chain
o employ at least 20 FTE* (full-time equivalent) staff or have an annual turnover of greater than $1.5 million (preference will be given to applicants that employ less than 200 people)
o agree to meet any co-contribution requirements with eligible cash expenditure.
*Companies with fewer than 20 FTE staff may be considered but will need to demonstrate why their project should be funded and how it will stimulate job creation.
More information at: https://business.vic.gov.au/grants-and-programs/manufacturing-and-industry-development-fund/business-competitiveness-program
