The government is backing small- to medium-sized enterprises to help build the nation’s sovereign capability to keep Australia safe and secure.
The grants program will provide support to eligible Australian SMEs with fewer than 200 employees on a dollar-for-dollar basis.
A business can receive an unlimited number of grants over the life of the program, with a minimum value of $50,000 and the maximum value of $1 million and up to a total of $3 million over a three-year period.
The grants will help SMEs meet up to 50 per cent of eligible project costs including capital equipment, specialist software and security infrastructure, non-recurring engineering costs, design activities or enhancing workforce training and accreditation.
Minister for Defence Industry Steven Ciobo said the dedicated annual grants program would provide up to $17 million to Australian SMEs to grow a deeper and broader Australian defence industrial base to support the ADF.
“The more Australian industry can contribute to meeting the ADF’s capability needs, the greater prosperity and security we will all enjoy,” Mr Ciobo said.
“The Sovereign Industrial Capability Priority Grants program, launched today, supports the 10 Sovereign Industrial Capability Priorities critical to the ADF’s operational requirements, identified in the 2018 Defence Industrial Capability Plan.
“The plan concluded Australia’s defence industrial base is mostly composed of SMEs.
“This grants program aims to ensure Australian businesses have the capacity and resilience to support Defence’s most critical capabilities.
“We are delivering the largest modernisation of the ADF since the Second World War, investing more than $200 billion in defence capability over the next decade.
“Involving Australia’s SMEs in this major renewal of Australia’s defence capability will grow our industry and economy, helping create new jobs.”
The grants program will be delivered through the Centre for Defence Industry Capability.