New grants available to boost innovation and productivity

Victoria’s capacity to produce leading technological advancements and product innovation across key industry sectors is set to expand, thanks to a new Victorian Government 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 invest in new or expand existing R&D infrastructure.

The grants will enable businesses to invest in R&D infrastructure to make cutting-edge discoveries in a range of disciplines, accelerating innovation 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 Australian Government’s R&D tax incentive – accelerating 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.

Announced in the 2023/24 Victorian Budget,  the Made in Victoria – Industry R&D Infrastructure Fund is part of the government’s suite of targeted investments to drive innovation and strengthen local supply chains.

Applications for the Made in Victoria – Industry R&D Infrastructure Fund are now open. For more information visit Industry R&D Infrastructure Fund.