Manufacturing innovation to shore up troubled sector

Manufacturers are set to receive funding aimed at promoting growth through innovation, as the industry struggles under the continued high dollar. The federal government has pledged $29.8 million from this year's budget to develop a Manufacturing Technology Innovation Centre (MTIC), to assist the troubled manufacturing sector in remaining competitive internationally.

The MTIC will combine manufacturers with researchers tasked with developing and promoting new technology, product development and design, with $3.9 million allocated to the project for the coming financial year.

The initiative will rely on collaboration between large manufacturers and SMEs, as well as a number of industry bodies, including Austrade and the Australian Manufacturing Technology Institute Ltd. 

Read more about the budget here >>

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