The Albanese Government is backing Australia's emerging small and medium manufacturers, with the first grants beginning to flow from the $392 million Industry Growth Program (IGP).
First round funding is underway, supporting businesses from battery-making through to blueberry farming, with future rounds to be announced soon.
Designed to help small and medium businesses overcome barriers associated with scaling up, the program is growing manufacturing capabilities, creating stronger supply chains and delivering more secure well-paid jobs.
Minister for Industry and Science Ed Husic announced the funding by officially opening battery manufacturing facilities at grant recipient Li-S Energy.
The company's revolutionary technology is making low-weight, highly durable batteries suitable for the unstaffed aviation and defence industries.
Successful grant recipients in this round include:
- Cauldron Molecules $4.3 million to support world-first, fully automated hyper-fermentation technology to make food, animal feed, fibre and fuel.
- Li- S Energy $1.7 million to support its high-tolerance lithium foil battery manufacturing process to produce next generation, ultra-light batteries.
- Electrogenics Laboratories $1 million for its MOSkin patient radiation dose measurement system to reduce exposure risk during radiotherapy treatments.
- Brandsec $231,000 for its Unphish software tool which can remove malicious phishing content from the internet, including from compromised websites and fake social media accounts.
- Forager Automation $157,943 for the development of its robotic blueberry picking device that will tackle labour costs and increase yield efficiency for farmers.
IGP funding is provided through two streams.
Early-Stage Commercialisation grants provide matched grant funding from $50,000 to $250,000 to help establish the commercial viability of an innovative product, process, or service.
Commercialisation and Growth grants provide matched grant funding from $100,000 to $5 million to help push ideas from prototyping through to market readiness stages. Grants will help develop strategies for entry to market and scaling up into national and international markets.
IGP grants are aligned with the seven priority areas of the $15 billion National Reconstruction Fund: Resources; Transport; Medical Science; Defence Capability; Renewables and Low Emission Technologies; Agriculture, Forestry and Fisheries and; Enabling Capabilities.
IGP funding is designed to scale up early-stage businesses so they can apply for NRF co-investment during later phases of development.
