AMSJ » Victoria METS sector can benefit from new R&D grants

Victoria METS sector can benefit from new R&D grants

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Earth Resources Regulation has announced that mining, equipment, technology and services (METS) companies can receive funding from the Victorian Government’s research and development (R&D) cash flow loans initiative.

Modern mining has a sophisticated, innovative, and varied supply chain. METS involves many sectors of economy, including, engineering consulting, construction, information technology, and professional services.

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R&D Cash Flow Loans will offer low-interest loans provided by Treasury Corporation of Victoria (TCV) of between A$250,000 and A$4 million, for a period between 12-28 months, with total funding capped at A$50 million.

Victorian SMEs that currently qualify for the Commonwealth Government’s R&D Tax Incentive are eligible to apply for a loan.

Applicants will need to meet all eligibility criteria and initiative objectives and receive approved credit assessments to receive an R&D Cash Flow Loan, which will be administered strictly in the order that applications are received by Invest Victoria.

The initiative is open to SMEs across the state. It can assist Victoria’s vibrant and pioneering METS sector to continue developing new products, services and technologies that could address some of the mining and resources sector’s greatest challenges.

The Victorian Government’s Research and Development Cash Flow Loans initiative is open for applications.

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AMSJ Nov 2021