The Victorian government has established a new research and development fund to help the local industry manufacture new products, harness innovation, and compete in new global markets.
The $15 million Made in Victoria – Industry R&D Fund will target projects in new energy, health technology, food manufacturing, defence aerospace, and advanced technology— the key sectors identified in the government’s Made in Victoria: 2030 Manufacturing Statement.
The grant program will provide eligible businesses with matched funding of between $250,000 and $2 million to help boost their research and development infrastructure.
The funding will allow the acquisition of new infrastructure and equipment, including measurement instruments, imaging and sensing technologies, and clean room facilities, enabling businesses to collect and analyse data and manufacture cutting-edge innovations across disciplines.
The fund aligns with 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 Made in Victoria – Industry R&D Infrastructure Fund is part of the Labor Government’s suite of targeted investments to drive innovation and strengthen local supply chains.
“We’re backing cutting-edge research and development because we know that innovations discovered here in Victoria help to grow businesses and create jobs,” said Minister for Industry and Innovation Ben Carroll.
“We want to make it easier for Victorian businesses to invest in research and development because we know it will deliver major benefits for our economy for years to come,” the minister added.
The Victorian government recently allocated $5 million for LaunchVic’s Alice Anderson to support more women-led startups and $12.3 million to support the delivery of major sovereign mRNA manufacturing facilities in Victoria.
