Future Industries Fund

The Victorian Government has established the A$200 million Future Industries Fund to support six high-growth sectors that have the 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 A$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 a potential for extraordinary economic growth and the capacity to create high-skill, high wage jobs. This includes:

  • medical technologies and pharmaceuticals
  • new energy technologies
  • food and fibre
  • transport, defence and construction technologies
  • international education
  • professional services.

Future Industries

On 17 March 2016, the Victorian Government launched the Future Industries Sector Strategies, together with the Sector Growth Program.

The Future Industries Fund is now open for applications.

You can apply for funding under one of the following programs:

Sector Growth Program

The Sector Growth Program provides grant funding for Victorian-based projects that align with future industries sector strategies. The program comprises two funding streams: up to A$100,000 is available for scoping, planning and feasibility studies, and up to A$1 million is available to implement projects aligned with the future industries sector strategies that will generate new jobs and increase the competitiveness of Victorian businesses.

For more information, visit the Business Victoria website.

New Energy Jobs Fund

The A$20 million New Energy Jobs Fund will support Victorian-based projects that create long-term sustainable jobs, increase the uptake of renewable energy generation, reduce greenhouse gas emissions and drive innovation in new energy technologies.

Funding to support new energy technology projects will be available through three annual grant rounds. Up to A$5 million is available for round one which is now open and will close on 16 March 2016.

The second and third grant rounds are expected to open early in 2016 and 2017. Find out more about the program and eligibility, visit the Business Victoria website.

Manufacturing Program

Grants for up to A$500,000 are now available under the Manufacturing Program to assist companies to implement new manufacturing technologies and processes that will provide a critical foundation for growth. All grants must be matched by a minimum cash co-contribution of A$3 for every A$1 granted.

Find out more about the program and eligibility, visit the Business Victoria website.