INDUSTRY POLITICS THE HON. KAREN ANDREWS MP – PARLIAMENT OF AUSTRALIA, MINISTER FOR INDUSTRY, SCIENCE AND TECHNOLOGY
GROWING MANUFACTURING THROUGH ACTION NOT WORDS We make great things in Australia and we make them well. And as the Prime Minister and I have been saying; we want to continue to make great things here. That belief is central to our Modern Manufacturing Strategy, and indeed all of the policy decisions we make to support our manufacturers. When I’ve been on factory floors over recent months, our manufacturers have told me how much they appreciate the way our Government is backing them to succeed. The recent Budget included billions of dollars in support designed to encourage all businesses, but particularly our manufacturers to invest and grow.
Our extension of the instant asset writeoff is seeing manufacturers invest in new equipment, upgrade production lines and bring work home to Australia. They’re benefiting from our record investments in skills to ensure we have the workers they need. We’re also working to make energy more affordable and reliable, opening up overseas trade markets and addressing the industrial relations framework. It is basic economics – and something often lost on our opponents – that no policy will help businesses to succeed if the economic conditions are not right. But our Strategy also acknowledges that for Aussie manufacturing to grow in
before expanding into Tasmania. The amazing thing about Naturo, is not only are they creating more jobs in their business, they’re opening up exciting export opportunities along the supply chain for our dairy industry to take on the world. Naturo is also helping redefine to everyday Australians what manufacturing is – it’s innovative, it’s highly-skilled and it’s underpinned by research and technology.
the connected world we now live, we need to make science and technology work for industry.
Embracing technology is also central to the second round of the Manufacturing Modernisation Fund.
A wonderful example is Sunshine Coast company Naturo, which I was delighted to visit last month.
There’s been a tremendous response with over 500 applications currently being assessed.
This Queensland business is pushing the envelope of the possible and embracing science to create a world-first right here at home.
Successful applicants will receive between $100,000 and $1 million to improve their processes, grow their businesses and create jobs.
Naturo has developed technology that can extend the expiry of fresh milk to more than 60 days, while making the product nutritionally superior.
It’s just another example of the Morrison Government backing our manufacturers with practical support, rather than rhetoric.
The company is using $1 million in matched funding from our Government to build a pilot manufacturing plant in Coolum,
Because it’s action not words that will see us keep making things well – and by making things well we build a stronger Australia.
MILLION DOLLAR BOOST FOR FEMALE ENTREPRENEURS The federal government is backing female-led startups across Australia with $52.2 million in support to help them scale up and grow their businesses. The Boosting Female Founders Initiative is supporting 51 female-founded startups that are majority owned and led by women, with grants of between $25,000 and $480,000. It is hoped the grant will help female entrepreneurs overcome the disadvantages faced in getting access to finance and support, to grow their business. Round 1 will see $12 million become available for grants. Minister for Industry, Science and Technology Karen Andrews said Australia’s dynamic startup sector played a crucial role in creating new jobs, developing innovative products and boosting the Australian economy. “The road from business idea to global product is already a tough one. But we know female-founded startups face even greater challenges in getting the finance needed to reach their full potential,” she said. “The range of startups being supported is incredible, from an Indigenous-designed digital skills training program for schools, to a project creating 3D printed, customised and comfortable breast prostheses made
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specifically to fit women’s bodies and mastectomy bras. “If we don’t capitalise on great business ideas from half of the population, Australia’s startup and innovation ecosystems will only be half as good as they could be. This investment will strengthen our economy and empower more female entrepreneurs to create more jobs for all Australians.” Minister for Foreign Affairs and Minister for Women, Senator the Hon Marise Payne said the Boosting Female Founders Initiative formed an important part of the government’s 2018 and 2020 Women’s Economic Security Statements, which provide targeted, specific and additional support for women. “Our 2020 Women’s Economic Security Statement includes a further $35.9 million so that the Boosting Female Founders initiative can support up to 282 additional startups and 4,300 women entrepreneurs,” she said. “These targeted grants will help some of the best and brightest women in Australia launch bold new and innovative ideas, and I am very pleased to support this initiative.” The recipients were selected by an independent selection committee of experienced women entrepreneurs led
by Professor Jana Matthews, ANZ Chair in Business Growth and Director of the Australian Centre for Business Growth at the University of South Australia. “We were all delighted by the strength of response to this Initiative – both in the sheer number of responses received, and the extraordinarily high calibre of our successful applicants,” Professor Matthews said. “These successful applicants all presented viable concepts, with strong business plans showing great potential for growth and job creation. The selection committee and I look forward to tracking their progress and applauding their success.”
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enable female founders to scale-up, expand into domestic and global markets, and become self-sufficient
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boost the economy through increasing the diversity of startup founders.
The expansion includes a new mentorship element, supporting more than 4000 mentoring opportunities for women entrepreneurs to help them continue to succeed and grow.
The intended outcomes of the program are:
The objectives of the program are to: •
stimulate private sector investments into innovative startups led by women
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help female entrepreneurs overcome the disadvantages faced in getting access to finance and support to grow their startups
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increased number of startups founded by women
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new products and services are brought to market by startups founded by women
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increased financial investment in startups founded by women
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women improve their earning potential through entrepreneurship
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increased job creation and economic growth.
FEBRUARY / MARCH 2021
