"You're 3 Steps Away From The $500,000 Future Industries Manufacturing Program”
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Dear Victorian Manufacturer,
If you're considering applying for the Future Industries Manufacturing Program (FIMP), then this information is specifically for you. This page is designed to educate you about the Future Industries Manufacturing Program so you can make an informed decision.
You see, the last 3 years have been really tough for the industry, with the sector experiencing a number of challenges including:
- The high Aussie dollar (which increased from 60 US cents to above 75 US cents) making overseas goods more attractive – at the expense of Australian Made products
- Reduced consumer willingness to pay a premium for Australian Made goods due to economic uncertainty
- Increase in operating costs (wages and equipment) as prices continue to increase way above inflation. While Chinese factories can get away with paying workers less than $10 a day, Australian manufacturers must pay at least $20 an hour (or $160 a day)
- The banks cranking up their interest rates and profits out of step with the RBA
- Competition from existing and new overseas players – pushing prices down and eroding (already slim) profit margins.
On top of everything, your business needs to deal with government bureaucracy:
- Permits and licenses (e.g. WorkCover, WorkSafe, OHS, etc.)
- Tax (GST, BAS, PAYG, etc.)
- HR (super, annual leave, sick leave, maternity, etc.)
Is it any wonder that we’ve seen so many manufacturers shift their operations offshore or close sites during the last 12 months? Hardly a week goes by before another story of a manufacturer who “just had enough” hits the media.
Workers get retrenched, factories closed, the local community suffers – it gets very ugly.
Every Grey Cloud Has a Silver Lining
The Australian Government can’t ignore the burden faced by Australian manufacturers and their contribution to the broader economy.
In fact, did you know that your business and manufacturing in general:
- Is relied upon by 982,300 Australians for employment (as at May 2015)
- Employs 5% of the working age population in Australia
- Contributed 107,720 million in Total Factor Income to the Australian economy in 2014-2015 or 9.3% of Total Factor Income for Australia
- Was the 2nd largest contributor to the Australian economy in 2015
To ‘soften the blow’ the Victorian Government announced the $5 million Future Industries Manufacturing Program. The program is designed to help the manufacturing sector become more innovative and effecient. The $500,000 grant is provided to replace existing manufacturing equipment with newer and more efficient alternatives.
Don't be Fooled by a 'Free' Lunch
Getting a grant from the $5 million Future Industries Manufacturing Program can certainly help you become more competitive through better energy efficiency. After all, FIMP is a generous program that covers the cost of replacing your capital equipment.
However, having dealt with government in the past, you’re probably reluctant to invest time and energy to complete the grant application – and for good reasons.
After all, the vast majority of grant applications are unsuccessful. Submitting a FIMP (or any other) grant application that is unsuccessful does not only lower morale but also wastes valuable resources... with nothing to show for it but a letter of rejection (even if it's politely worded... giving you hope but not funding).
This is particularly true when you're asking for large grants ...as it gets extremely competitive.
In fact, did you know that in Round 4 of NRRHIP program (an infrastructure government grant from DOH)…
86% of Applicants were Unsuccessful!
That's right... almost 9 out of 10 businesses who applied, were rejected. This is how competitive government grants can be – with most applicants missing an opportunity to get $500,000 in cash.
As you can see, obtaining a government grant is a complex process.
That's why BEFORE you even consider starting an application, answer the following 3 questions:
- When was the last time you successfully applied for a competitive government grant?
- Do you have time to read through 100+ pages of guidelines and supporting material?
- Do you even know where to start?
Introducing the FIMP Grant 'Solution'...
We can help by:
- Doing most of the work
- Taking out most of the risk
We've come up with a 'done-for- you' VIP Service which is tailored to manufacturers and includes:
- A diagnostic consultation to fully understand your project
- A comprehensive 11 page pre-application guide
- Project strategy development to maximise your chances of success
- Writing and completing the application on your behalf
- Inclusion of relevant references / statistics to support and strengthen your argument
- Actuarial analysis and mathematical calculations to justify the benefits of your project
- Coaching and mentoring throughout the process
- Letter of Support Template (along with 5+ sources to approach)
- Independent quality assurance
- A Comprehensive Checklist prior to application submission
Our unique FIMP grant submission methodology will maximise your chance of being successful while minimising your involvement (as you probably have better things to do than to ‘stuff around’ with grant paperwork).
We've recently completed a large number of grants and received positive feedback from our clients (who rated us on average 9 out of 10). Many clients also expressed their ‘surprise’ at the amount of work involved– something they only realised once we delivered them the final application (which exceeded their expectations).
Best of all, Grant Solutions is primarily compensated on results (rather than effort). A major component of our compensation is only charged if the grant application is approved.
Our consultants understand the manufacturing industry, have interrogated the relevant policy papers and know what the government is looking for. Since 2009 we’ve published articles in the Manufacturing Monthly (see below) which you could still read today.
We therefore expect that our clients will be successful (providing they are eligible and have genuine merit) while identical projects of non-clients will be deemed unsuccessful. The key point of difference will be our ability to communicate the value of these projects in a way that gets them ‘across the line’.
Grant Solutions has successfully obtained individual grants ranging from $100K to $7M so writing a $500,000 submission is well within our level of expertise.
In the 4th NRRHIP round, Grant Solutions submitted 4 client application and 'got the money' for all of them. Sure, it wasn't easy (our consultants spent 50+ hours per application) but each client got the result they were looking for.
In fact, 2 of our clients unsuccessfully applied themselves ... and didn't want to (nor could they afford to) be rejected again.
This time, they used our services… and were successful.
Why do grant applications fail?
The majority of unsuccessful submissions do have significant merit… but they are unable to successfully communicate that merit through the application form. Even if they did a good job… there was still too much competition (302 applicants for 42 funded projects in NRRHIP Round 4).
So ask yourself… is it worthwhile to invest 50+ hours into the grant application process, knowing that your chances of success is around 10%?
Or wouldn't you rather invest that time into your business… and let Grant Solutions handle the FIMP application (so your chances of ‘getting the money’ improve dramatically)?
There is however a Catch… and it’s important
We won’t be able to handle the anticipated number of clients needing our services. We’ll try to help as many as possible, but once we’ve reached capacity… ‘all bets are off’.
There will be a waiting list but regrettably many will miss out. We want to help everyone… but will be forced to say ‘no’ to prevent our team from being overloaded and overwhelmed (especially as the demand for the program increases).
On previous occasions clients have:
- Tried to reach us outside of office hours (including Saturday and Sunday)
- Offered compensation far above our standard fees
- Claimed we accepted them as clients (when we only said ‘maybe’)
In each case these requests were regrettably but firmly declined (as we’ve already had a long waiting list).
Realistically you probably have only a few days to decide before that decision is made for you. We’re happy to answer questions, provided that you’ve carefully read all the information available on this page.
Please keep in mind that we’ll be working at capacity and our priority will be to assist existing clients with their projects (rather than focusing on acquiring new clients).
Sounds FAIR doesn't it? We think so and so do our satisfied clients.
Interested? These are the Next Steps...
For additional information please review our 14 page Grant Solutions $500K FIMP Report
To Your Future Industries Manufacturing Program Success,
Ross Turetsky MBA, BCom, BInfosys
Managing Director, Grant Solutions
Grants of up to $500,000 are available under the Manufacturing Program to assist companies to implement new manufacturing technologies and processes that will provide a critical foundation for growth.
All grants must be matched by a minimum cash co-contribution of $3 for every $1 granted.
Who can apply?
Applications are sought from Victorian-based companies with a minimum three years trading history that intend to invest in new manufacturing technologies and processes that will:
- • Generate sustainable new local jobs, including high-value jobs
- • Improve productivity and competitiveness
- • Target new growth opportunities.
What types of projects are eligible?
The Manufacturing Program can support projects that involve the following activities:
- • Purchasing and implementing capital equipment items
- • Manufacturing product and process improvements
- • Prototyping, evaluation and testing of new manufacturing products and processes.
How are applications assessed?
All applications are assessed against the following merit criteria:
- Impact of the project on employment and skills;
- Net economic benefit the proposed project brings to Victoria;
- Demonstrated skills, experience and resources available to successfully undertake the project;
- Value for money; and
- Need for government support.
Below is a small sample of testimonials Grant Solutions has recieved from past clients across a number of government programs. There are a further 15+ pages of testimonials available on our Testimonials page.