A Brumby Government fund of $4 million will help small and medium-sized manufacturers get better value for their research and development investments in high-tech expansion and create jobs in Victoria.
Small Business Minister Joe Helper announced the funding today as part of Victoria’s Agenda for New Manufacturing program.
Mr Helper said the funding would be available over the next four years and would allow the Victorian Centre for Advanced Material Manufacturing (VCAMM) to double the investments of Victorian manufacturers seeking to bring high-value products to market.
“Under matched funding arrangements, a business can leverage its investment so that each dollar invested brings three ¬¬– one from VCAMM and two from the Commonwealth Government,” Mr Helper said.
“Smaller manufacturers daunted by the expense of research and development should think again. Companies of any size can seek the help of VCAMM to broker partnerships with providers.”
Mr Helper said the Brumby Government was committed to manufacturing in Victoria.
“The Brumby Government is taking action to boost Victoria’s manufacturing sector and since 1999 we have facilitated $11.3 billion worth of investment, resulting in the creation of more than 24,000 jobs,” he said. "The Brumby Government is taking action to boost Victoria’s manufacturing sector."
“We are working with industry to help secure a prosperous future for manufacturing in the state.
“VCAMM plays an important role in matching innovative businesses of all kinds with university researchers, the CSIRO and co-operative research centres.
“For six years VCAMM has been doing a superb job of bringing top researchers together with our smartest companies to find ways of keeping Victorian manufacturers vibrant, innovative and prosperous.
“To bring distinctive and sought-after products to the global market we need a combination of scientific and business acumen.
“Victoria’s manufacturing future is in creating export niches for high-margin, low-volume, high-technology products. These products are ripe for export and licensing.”
Mr Helper praised VCAMM’s work with Victorian manufacturers such as:
• MicroHeat, a Victorian pioneer in instantaneous hot water for homes and industry. Working with the CSIRO, the Ferntree Gully company has secured patents for its technology in more than 50 countries;
• Cytomatrix, a biomedical company that, in collaboration with Deakin University, has made a porous foam that simulates bone marrow and provides an efficient environment in which to grow blood stem cells and immune system components; and
• Bellmont Composites, a family-run Kilsyth auto body shop that is perfecting methods of manufacturing carbon fibre body parts. It can produce parts such as fenders in high quality and finish at competitive cost, promising vehicles that are lighter, more economical and friendlier to the environment.
“These are not large businesses. But they are great examples of how VCAMM works to identify, encourage and support innovative small firms in widely diverse sectors,” Mr Helper said.