The Federal Government has announced $29.8 million in spending for the creation of a new Manufacturing Technology Innovation Centre.

 

The centre will aim to create, foster and leverage innovative industrial design, engineering and product development through the spread of leading technologies, business processes and technical knowledge.

 

“This initiative will build on the Government’s existing business capability programs and help businesses realise new market opportunities, particularly in the Asian market,” Minister for Industry and Innovation Greg Combet said.

 

The Centre will be led by industry through the creation of a small number of sectoral collaborations involving major manufacturers, small and medium enterprises (SMEs), public research agencies, including CSIRO, and universities.

 

The initiative will provide examples of best practice to the rest of industry and utilise major manufacturers and industry arrangements to champion the diffusion of innovation across sectors.

 

It will also work to facilitate access by manufacturing SMEs to appropriate facilities with the aim of reducing risks associated with product development.

 

The initiative will assist growing manufacturing SMEs to be better managed, more capable and higher value enterprises. The Centre will support such enterprises to collaborate and innovate more effectively – key ingredients for success in a competitive manufacturing environment.

 

The Prime Minister’s Taskforce on Manufacturing will consult with industry on implementation of the initiative.