The State Government of Victoria is helping Victoria become Australia’s leader in advanced manufacturing by assisting Victorian industry to create new products, harness innovation and compete in new markets across the globe, with the establishment of a new research and development (R&D) fund.
The $15 million Made in Victoria - Industry R&D Infrastructure Fund will provide matched grant funding of between $250,000 and $2 million to eligible businesses to boost their R&D infrastructure.
The grants will support new infrastructure and equipment such as measurement instruments, imaging and sensing technologies, and clean room facilities that will enable businesses to collect and analyse data and make cutting-edge discoveries in a range of disciplines.
The fund will help accelerate projects in new energy, health technology, food manufacturing, defence and aerospace, and advanced technology – key sectors identified in the Government’s Made in Victoria: 2030 Manufacturing Statement.
To lift business investment in R&D, the fund will complement existing initiatives such as the Commonwealth Government’s R&D tax incentive – boosting the state’s innovation capabilities and delivering broader benefits for Victoria’s advanced manufacturing sector.
The fund will also foster stronger connections between industry and research organisations, including Victoria’s leading universities, to produce more high-quality research and drive greater levels of innovation and productivity.
The Made in Victoria – Industry R&D Infrastructure Fund is part of the suite of targeted investments to drive innovation and strengthen local supply chains.
The Government is also delivering an extra $5 million for LaunchVic’s Alice Anderson Fund to support more women-led startups and $12.3 million to support the delivery of major sovereign mRNA manufacturing facilities in Victoria.
More about the Industry R&D Infrastructure Fund can be found here
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