Fund to Modernise Manufacturing
Above Photo: L-R Emesent CEO, Dr Stefan Hrabar; Minister for Industry, Science and Technology, Karen Andrews; and Member for Ryan, Julian Simmonds.
Photo Credit: Emesent
The Manufacturing Modernisation Fund was launched by Minister for Industry, Science and Technology, Karen Andrews, at Emesent on Thursday, 5th September 2019.
The Morrison Government has opened applications for their new $160 million fund that will support small and medium sized Australian manufacturers to invest in new equipment and technologies, as well as the growth and creation of new jobs.
Minister for Industry, Science and Technology, Karen Andrews, said the Manufacturing Modernisation Fund would help manufacturers become more competitive by co-funding investments in new technologies.
“Strengthening our core and emerging manufacturing industries is a key part of the Government’s economic plan to create 1.25 million new jobs over the next five years,” Minister Andrews said.
“This delivers on the Morrison Government’s commitment to help manufacturing businesses innovate and develop competitive advantage so they can thrive globally.
“Investing in technology can transform businesses, enabling them to become more productive, manufacture new products and create new jobs.
“The fund will provide grants to small and medium manufacturing businesses so they can invest in capital equipment and new technologies to modernise and employ more Australians. It will also support businesses to upskill workers to maximise the benefits of technology.”
Minister Andrews noted the reason for launching the fund at they chose Emesent Headquarters to is they represent the calibre of businesses they hope will apply for funding. Emesent's partnership with CSIRO is a key example of the innovative and true collaboration they aim to promote within the industry.
The Manufacturing Modernisation Fund will include $50 million from the Government and will be matched by at least $110 million from industry.
The fund will have two types of grants;
- $20 million will be provided for matched grants of between $50,000 and $100,000 for smaller scale technology and efficiency investments.
- $30 million will be provided for larger-scale grants of up to $1 million, on a three to one funding basis with industry, to support transformative investments in technologies and processes.
Photo Credit: Emesent
L-R: Andrei Golitsynski, Senior Trade & Investment Officer - TIQ; Mark Johannessen, General Manager Commercial - METS Ignited; Julie Sawyer, QLD Membership Manager - Austmine; Lorraine Elsmore, Marketing Director - Emesent; and Andrew Duggan, Managin
The Morrison Government is focused on collaboration across industry, education and research to ensure Australia continues to lead the way in the development of new and emerging technologies.
This fund builds on other Government investments in manufacturing growth and competitiveness, including the $100 million Advanced Manufacturing Fund, the Advanced Manufacturing Growth Centre, the Entrepreneurs’ Programme, and the $40 million Innovative Manufacturing Cooperative Research Centre.
For more information on the Manufacturing Modernisation Fund visit www.business.gov.au/MMF
Founded in 2018 by Dr Stefan Hrabar (CEO) and Dr Farid Kendoul (CTO) to commercialise drone autonomy and mapping technology that was developed in conjunction with CSIRO, Emesent’s vision is to automate the collection and analysis of 3D data in challenging GPS-denied environments. This allows drones to autonomously explore and map areas that would otherwise be inaccessible, capturing valuable data without putting humans at risk.
Considered world leaders in the space, Emesent’s core IP is in robotics, AI, machine learning and data analytics.
Emesent is dedicated to creating cutting-edge drone autonomy, mapping and data analytics for industrial applications (www.emesent.io). Its leading LiDAR mapping solution, Hovermap, automates the collection of data in challenging GPS-denied environments, delivering revolutionary efficiency, safety and operational insights to a variety of applications in different industries.
Manufactured on premises, in Australia, the Hovermap payload is now exported to 8 countries.
Here’s a quick video on what HOVERMAP can do.