Document ID: chunk:federal_register_of_legislation:F2021L00539:reg:5
Version: federal_register_of_legislation:F2021L00539
Segment Type: reg
Provision Reference: reg 5
Character Range: 1671–2611

5  Prescribed program
 (1) For the purposes of subsection 33(1) of the Act, the Modern Manufacturing Initiative Program (the program) is prescribed.
 (2) The program provides funding on a co‑investment basis to stimulate business investment in the manufacturing sector by supporting the following:
 (a) large projects that bring together businesses, researchers and investors to build economies of scale and allow businesses to better compete in international markets;
 (b) projects aimed at translating research into commercial solutions;
 (c) projects that target the integration of Australian businesses into domestic and global value chains.
 (3) The purposes of the program are to:
 (a) address barriers to scale and competitiveness for Australian manufacturing; and
 (b) build manufacturing capabilities and networks, lift productivity, create jobs and boost the export potential and global competitiveness of Australian businesses.