The new government should set its mind to the problem of Australia’s industrial structure. Recent feedback from manufacturers suggests that existing programs might be missing the mark. By Dr Jens Goennemann. After a decisive election win, the runway for government, especially a returning one, is at its longest. Therefore, it is a good time to…
Victoria recorded the highest number of manufacturing insolvencies in Australia in 2024, according to new analysis. This rise in business closures highlights ongoing struggles within the state’s manufacturing sector, exacerbated by high taxes, rising energy costs and extensive regulatory burdens. ASIC data reveals that during the term of the Albanese government, 415 manufacturing firms in…
Nominations opened on Thursday for Round 17 of Cooperative Research Centres Projects (CRC-P) grants, which offer between $100,000 and $3 million in matched funding for short-term (up to three-year) collaborative projects led by an industry partner. An update on the industry department’s website explains that support is open to all sectors, though there is a…
The Industry and Science Minister Ed Husic has tasked his department and industry to develop a National AI Capability Plan, aiming to grow investment in AI capabilities to help promote economic and productivity growth. Husic said there were around 650 AI companies headquartered in Australia and in the five years to 2023 foreign investors contributed…
Not enough is known about the nature of Australian manufacturing and the issues it faces to plan for a future made in Australia. Here Julie Harrison argues for as comprehensive audit to help move us forward. There’s an axiom of business that says you can manage what you measure – when you know the parameters…
The Treasurer Jim Chalmers and the Minister for Industry and Science Ed Husic have announced the establishment of an Investor Council to help unlock more private sector capital in key areas like housing and cleaner and cheaper energy. An outcome of an Investor Roundtable on Friday, the council support better coordination of investment in national…
This week Russell Mineral Equipment was announced as the National Reconstruction Fund Corporation’s first investee, with the NRFC taking a $40 million stake in the company alongside US-based private equity firm Resource Capital Funds. Earlier this year, RME was a gold award winner in @AuManufacturing‘s Australia’s 50 Most Innovative Manufacturers campaign for 2024. Below is…
The federal government’s $15 billion National Reconstruction Fund has made its first investment – $40 million will be invested into innovative mineral processing equipment manufacturer Russell Mineral Equipment. The funds, which is alongside private sector investment, will ensure a pioneering Toowoomba manufacturer stays in Australia and boosts production, according to a statement. The investment from…
The National Reconstruction Fund Corporation announced the departure of its founding CEO Ivan Power before the weekend, citing health problems. In a brief statement, the NRFC said Power had suffered several health challenges since he began his role this year and has been on extended leave since late-May. NRFC chair Martijn Wilder thanked Power, adding…
On Friday Germany and Australia pledged $660 million to help create a green hydrogen export supply chain to Europe. At the same time UNSW Sydney researchers have released a first report exploring the feasibility of collaboration on exporting hydrogen and green metals – here is the executive summary of their study. The global steel industry…
