New Government Grants for Manufacturing in Queensland
The Made in Queensland (MIQ) Program allocates grants ranging from $50,000 to $2.5 million as matched funding on a dollar-for-dollar basis. These grants aim to support Queensland-based small to medium enterprises (SMEs) in transforming into advanced manufacturers through the acquisition of industry-leading equipment, technologies, processes, and systems. By doing so, the MIQ program aims to enhance international competitiveness, boost productivity and innovation, and create highly skilled jobs, contributing to the growth of Queensland’s economy.
Eligibility Criteria
Applications for MIQ Round 7 opened on 24 September 2024 and will close at 1:00 pm on Friday, 24 January 2025. To be eligible, applicants must meet the following requirements:
- Be a Queensland-based SME with principal business activities in manufacturing as defined under Division C of the Australian and New Zealand Standard Industrial Classification (ANZSIC) 2006.
- Employ between 5 and 200 full-time equivalent (FTE) staff, with at least five located in Queensland.
- Own the manufacturing equipment currently used in operations and will own any equipment purchased with MIQ grant funds.
- Have the financial capacity to complete the eligible project, as grants are provided in arrears.
Additionally, eligible projects must meet one or both of the following criteria:
- Implementation of advanced robotics, Industry 4.0 or 5.0 technologies, demonstrating how the project will distinguish the applicant’s products or processes from those of their Queensland competitors.
- Implementation of sector-relevant technologies or systems that transform the business towards advanced manufacturing, aligning with Industry 4.0 or 5.0 principles.
Projects focused on decarbonisation, energy efficiency, or reshoring activities are also encouraged, particularly those that can be completed within a 12-month timeframe.
Ineligible Costs: Projects cannot include routine business activities such as repair or replacement of equipment, salaries, or software and technology not considered to be industry-leading.
Grant Application Process
Applying for MIQ Round 7 involves a two-stage process:
- Stage 1: Applicants submit an online form demonstrating how their project aligns with MIQ’s objectives. Applications are evaluated against criteria such as:
- Increased productivity and international competitiveness (20%)
- Embracing Industry 4.0 and 5.0 technologies (20%)
- Creation of high-skilled manufacturing jobs (20%)
- Alignment with the business’s strategic direction (10%)
- Project planning and achievability (7.5%)
- Regional weighting for businesses outside major metropolitan areas (12.5%)
- Stage 2: Shortlisted applicants from Stage 1 are invited to provide further evidence of value for money, which accounts for 10% of the assessment criteria. Applicants must substantiate the project’s financial and strategic benefits and show proof of financial capacity to complete the project.
The highest-ranked applications across both stages will receive grants until the total $20 million fund is exhausted. It’s also important to note that receiving an MIQ grant may affect a company’s eligibility for the R&D Tax Incentive.
How Stoke Consulting Can Help
At Stoke Consulting, we have extensive experience successfully securing MIQ grants for our clients in previous rounds. Our team can assist your business in navigating the application process and understanding recent changes, ensuring your project aligns with MIQ’s eligibility and assessment criteria.
If you’re considering applying for MIQ Round 7, contact us for customised advice and guidance. We’re here to help you unlock your business’s potential through this transformative funding opportunity.
Chris Read
Stoke Consulting
Leveraging his extensive leadership and entrepreneurial background, Chris consistently leads high-performing teams of leaders to outstanding business achievements. He excels in unravelling the intricacies of challenging business scenarios, crafting strategic plans and business cases while fostering deep trust including during executive coaching. This comprehensive and high integrity approach significantly elevates business performance for his clients, helping them to exceed expectations. Chris’ experience includes successfully leading multiple $1B+pa businesses with full P&L responsibility across nine countries and 800 reports to starting, building and selling his own e-commerce business, all the while building high performing teams of leaders.
