The National Reconstruction Fund delivers critical funding to boost existing manufacturing industries and build new ones to further enchant the economy.
This aims to create new jobs, grow local capacity, and strengthen Australia’s industrial base.
The $15 billion National Reconstruction Fund is expected to allocate it’s funding through guarantees, loans, and equity that is geared to support projects that drive regional investment, create well-paid and secure jobs, and invest in the Australian sovereign capability, further diversifying and broadening Australia’s economy.
Key Requirements for National Reconstruction Fund
The National Reconstruction Fund will be overseen by an independent board with the government setting the mandate to drive investment in key sectors, focusing on value adding and capability development to leverage Australia’s natural and competitive strengths including:
- Value-add in Resources:
Expand our mining science technology, ensure a greater share of the raw materials we extract are processed here, for example, high purity alumina from red mud in bauxite processing or lithium processing for batteries.
- Value-add in the Agriculture, Forestry and Fisheries sectors:
Ensure we unlock potential and value add to our raw materials in sectors like food processing, and textiles, clothing and footwear manufacturing.
Develop our capabilities in transport manufacturing and supply chains including for cars, trains and shipbuilding.
- Medical Science:
Fulfil our potential, given our world-leading research, in providing essential supplies such as medical devices, and Personal Protective Equipment (PPE), medicines and vaccines.
- Renewables and Low Emission Technologies:
Pursue commercial opportunities including from; components for wind turbines; production of batteries and solar panels; new livestock feed to reducing methane emissions; modernising steel and aluminium; hydrogen electrolysers, and innovative packaging solutions for waste reduction.
- Defence Capability:
Maximise our requirements being sourced from Australian suppliers employing Australian workers, whether they be technology, infrastructure or skills, complimenting Labor’s Defence Industry Development Strategy.
- Enabling Capabilities:
Support key enabling capabilities across engineering, data science, software development including FinTech, EdTech, AI and robotics.
National Reconstruction Fund –
What is eligible for funding?
The $15 billion National Reconstruction Fund is the first step in Labor’s plan to rebuild Australia’s industrial base, with dedicated support allocated for investments in:
- Powering Australia:
An Albanese Labor Government will allocate up to $3 billion from Labor’s National Reconstruction Fund to invest in green metals (steel, alumina and aluminium); clean energy component manufacturing; hydrogen electrolysers and fuel switching; agricultural methane reduction and waste reduction.
- Medical Manufacturing:
An Albanese Labor Government will back Australian medical manufacturing with a dedicated $1.5 billion Medical Manufacturing Fund, building on Labor’s Buy Australian Plan to work with industry to identify ways that government purchasing strategies can help build local medical manufacturing capability to create secure well-paid jobs.
- Value Adding in Resources:
An Albanese Labor Government will expand Australia’s mining science technology capability, create jobs and ensure a greater share of our raw materials are processed in Australia, through Labor’s $1 billion Value Adding in Resources Fund.
- Critical Technologies:
An Albanese Labor Government will expand Australia’s critical technology capability, in areas like Artificial Intelligence, robotics and quantum computing by setting up a Critical Technologies Fund to deliver $1 billion in investment support through loans, equity and guarantees for businesses in critical technologies.
- Advanced Manufacturing:
An Albanese Labor Government will invest $1 billion in advanced manufacturing, as part of our commitment to create secure well-paid jobs and build a future made in Australia. Labor’s $1 billion investment will rebuild our industrial base creating new capabilities and opportunities to innovate in transport, defence, resources, agricultural and food processing, medical science, renewables and low emission technologies manufacturing.
- Agriculture, Forestry, Fisheries, Food and Fiber:
An Albanese Labor Government will reserve $500m of funding within our National Reconstruction Fund for Agriculture, Forestry, Fisheries, Food and Fiber. This will encourage investment in value-adding and growing exports, help diversify the sector and open up new possibilities for trade.
What companies are eligible for funding?
To be announced
Is this grant competitive or entitlement based?
Competitive. Your application will be assessed among other applications by a judging panel.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.
As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.
Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project
- Industry analysis presentation
- Competitor Analysis Presentation
- Marketing and Sales Analysis Presentation
- 3-5 year Cashflow Forecast
- 3-5 year Balance Sheet Forecast
- Cost-Benefit Analysis of Grant Funding
- End-to-end grant application including information collating, analysis and application writing
- CAPEX (Capital Expenditure) cost-benefit analysis
- Stakeholder relations and Risk Mitigation Plans
- Any other relevant forecasting that will support your application
How to Apply
Click to apply for national reconstruction fund via the link.