This $1.5 million grant will enable Aston Dynamics to accelerate innovation and scale production, positioning the company to expand exports into key international markets including North America, Europe, and Asia.
To support this growth, Aston Dynamics is investing in a new specialised manufacturing facility, significantly increasing production capacity to meet rising global demand.
The company anticipates creating between 40 and 60 new jobs to be created over the next two years.
Quotes attributable to Minister for Industry and Innovation and Minister for Science Tim Ayres:
“Australians are world renowned for their ingenuity and the government’s Industry Growth Program is the platform from which many growing businesses can transition from start-up to a global venture.
“The Albanese Government’s Industry Growth Program not only provides a funding boost for local businesses to be able to take their idea from the lab to the factory floor, but also the local job market, supply chains and productivity. That’s what a Future Made in Australia is all about.”
Quotes attributable to Federal Member for Bendigo Lisa Chesters MP
“It’s always terrific to see a Bendigo business taking the next step into larger markets – and seeing the positive impact this has on our local economy and community.
“This funding from the Albanese Labor Government will help Aston Dynamics scale up, create new local jobs and propel them towards greater success.
Quotes attributable to CEO & Head of Design of Aston Dynamics Dr. Dale Hynd
“Aston Dynamics acknowledges and appreciates the government’s support in advancing the development of its next generation of high-performance braking systems and strengthening Australia’s position in advanced manufacturing.”
Background about the Albanese Labor Government Industry Growth Program
Innovative projects supported through the Industry Growth Program align with the Albanese Government’s seven priority areas for the $15 billion National Reconstruction Fund: value-add in resources; transport; medical science; defence capability; renewables and low emission technologies; value-add in agriculture, forestry and fisheries; and enabling capabilities.
Early-Stage Commercialisation and Commercialisation and Growth grants are open to businesses that apply after participating in the Industry Growth Program Advisory Service. Early-Stage Commercialisation and Commercialisation and Growth grants are open to businesses that apply after participating in the Industry Growth Program Advisory Service.
To date, more than 1,300 businesses have received Advisory Service reports, providing tailored guidance on the most effective pathways to commercialisation, innovation and scale.
Applications for the Advisory Service are open on an ongoing basis. For more information, including eligibility, visit: business.gov.au/igp.
