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Grants designed to support priority industry sectors through targeted investment
Australia is a globally significant food and agricultural products exporter. Agricultural products account for 11% of goods and services trade and over 2% of GDP but interventions by some foreign governments (high tariffs and production subsidies) negatively impact Australian producers and lock Australian exports out of some foreign markets. Sometimes referred to as the “food bowl” of Asia, Australia’s reputation is internationally renowned as a modern, safe, reliable and sustainable producer of high-quality products.
To maintain and grow our competitiveness both Federal and State Governments have identified this sector as a key priority whereby various forms of industry assistance grants are available.
The greatest challenge facing the survival of mankind is the way we think about climate change to reduce greenhouse gas emissions, switching to renewables is only half the story, to reach net-zero we also need to adopt the principles of the circular economy and change the way we make and use products, materials and food.
Australia’s abundant resources in sunshine, wind and critical minerals offer significant potential for renewable energy and broader investment in circular economy technologies that helps establish a decarbonised economy. Governments locally and abroad are heavily intervening and allocating large budgets to assist industries to transform with a commitment to achieve net-zero by 2050.
Australia provides a low-risk testbed to develop and test MedTech products with quality clinical trials data accepted in other major markets. Australia’s life science sector has grown 43% between 2019 – 2022 and our health ranking is second amongst OECD countries.
This sector is also recognised as a key priority by both Federal and State Government whereby various forms of industry assistance grants are available to assist universities and biotech’s to commercialise new products.
Australian manufacturing continues to receive greater attention as the public and Government consider sovereign capability and manufacturing jobs as key to the Australian economy’s future growth and resilience. Enabling technologies have the capability to radically improve the performance and capabilities of a product or process to achieve competitive advantages delinked to labour cost.
Adoption of Industry 5.0 and development of enabling technologies across industry will deliver higher value economic benefits in the form of products, processes, education and jobs.
Australia’s 2.5 million small businesses provide jobs for 5.1 million people and employ 42% of all apprentices and trainees, nearly double the amount supported by big business. Almost 98% of businesses in Australia are small businesses.
Start-ups are generally made up of transformational entrepreneurs who aim to create large, vibrant firms and provide jobs and income for young workers, typically by providing a new product or service or by entering markets previously unserved thereby creating the new products, industries and jobs of tomorrow.
Closing the Gap on indigenous disadvantage is the challenge for Australia. Connecting, supporting and empowering First Nations people to adopt into modern society whilst maintaining dignity, culture and heritage is a continuum that sees both Federal and State Governments provide up to $40 billion a year in financial support
Australian foundations and multi-national corporations also provide grant funding that usually address a “social good or need” in the community – approximately $13 billion a year is distributed annually.
Not for Profits generally hold a Deductible Gift Recipient ( DGR) status and provide a service that addresses a community need – overall $56 billion year is provided to this sector annually from Local, State and Federal Government.
Sectors covered by these grants vary greatly and include Mental health, Multi- cultural/ Disadvantaged, Social Enterprises, Arts, Screen and Culture, Sports and Recreation, Education and Training, Events, Youth Programs, Inequality and poverty, Social justice and change, environment and sustainability
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