Research & Development Grants in the Manufacturing sector
To be successful, you must embrace Industry 4.0. Invest in R&D to innovate and build greater resilience to changing market conditions.
BDO’s R&D taxation specialists regularly prepare applications and obtain R&D benefits. This includes activities to acquire knowledge in relation to new or improved materials, products, devices, processes or services. We understand the R&D tax incentives system and can provide advice to suit your needs. Helping you to maximise your access these tax incentives. We also advise on various grants programs funded by the Commonwealth and State governments, another major source of funding for R&D in Australia.
Advanced Manufacturing Growth Fund
The $47.5 million Advanced Manufacturing Growth Fund supports capital projects by small to medium enterprises. It helps to establish and expand advanced manufacturing activities in Victoria and South Australia. This funding is part of a $100 million Advanced Manufacturing Fund announced in the 2017-18 Budget. The program will help transition Australia’s manufacturing sector from traditional, heavy industrial processes to knowledge-based manufacturing of higher value products. Aiming to improve efficiency and competitiveness of firms and the broader economy.
The following funding amounts apply:
- The minimum grant amount is $500,000
- The maximum grant amount is $2.5 million
- You must complete your project by 30 June 2020
- Grant funding will be up to one third of your eligible project costs
- The minimum project amount is $1.5 million.
For more information on how to access these incentive, please contact your local R&D Partner.