The Victorian Government has established the $200 million Future Industries Fund to support six high-growth sectors that have potential for extraordinary economic growth - to create jobs and attract investment in Victoria.
Building a stronger Victoria
Victoria's economy is in transition. To meet the challenges and opportunities generated by a rapidly changing global marketplace, we need to create the conditions for sustained jobs growth and prosperity. The $200 million Future Industries Fund supports high growth, high value industries that are critical to securing Victoria's future as a competitive, innovative and outward looking economy.
The Victorian Government has identified six priority sectors that have potential for extraordinary economic growth and the capacity to create high-skill, high wage jobs. These include:
- medical technologies and pharmaceuticals
- new energy technologies
- food and fibre
- transport, defence and construction technologies
- international education
- professional services.
Future Industries Fund grant programs
The fund will offer grants of up to $1 million for projects that align with sector action plans. Recipients will be expected to contribute at least $1 for every $1 in grant funding awarded. The fund will also offer general grants of up to $500,000 to companies engaged in manufacturing - recipients do not need to be part of the six high-growth sectors but will be expected to contribute at least $3 for every $1 in grant funding awarded.
Further information about specific programs within the fund will be released shortly, however the overarching focus is on projects that create the most jobs and projects unlikely to succeed without government support. For further information, contact Future Industries at firstname.lastname@example.org.
Visit the Future Industries Fund consultation website.