Federal Government announces $392m program to boost industry growth

Australian Mining Review

The Federal Government has announced a new $392m Industry Growth Program, designed to provide support and advice to small-to-medium businesses and start-ups.

The program aims to help these businesses commercialise their ideas and expand, providing grants and mentorship to increase the pipeline of investment-ready projects for the $15b National Reconstruction Fund.

This investment is part of a broader commitment to industry growth, which includes a $101m investment in the responsible development of Australia’s quantum and artificial intelligence industries.

This funding will be used in conjunction with Australia’s National Quantum Strategy, which was announced last week, and the $15b National Reconstruction Fund to position Australia as a leader in technological advancements that will shape the future.

The Federal Government is also investing $15m to establish the Powering Australia Industry Growth Centre, which will support local manufacturing of renewable energy technology.

This investment will help drive growth in the renewable energy sector, a critical component of Australia’s transition to a more sustainable future.

The Federal Government’s investment in industry growth is not just about creating jobs in the present, but about laying the groundwork for future economic growth.

By supporting innovation and emerging businesses, the Federal Government is creating the conditions for long-term job creation and economic prosperity.

These initiatives will help position Australia as a leader in technological developments and support the transition to a more sustainable future.

It is critical to continue investing in industry growth to create the jobs and economic opportunities of tomorrow.

The Federal Government’s investment in industry growth is a positive step in the right direction, demonstrating a commitment to driving economic growth and job creation in Australia.