$500,000 for export program

THE export potential of Geelong’s emerging advanced manufacturing businesses is set to be unlocked more quickly.

Deakin University’s advanced manufacturing business incubator, ManuFutures, is developing a new program to support the start-up business it houses to more rapidly get through the early commercialisation phase and to target export markets.

The Federal Government yesterday announced a $500,000 grant for the ManuFutures Export Acceleration Program.

ManuFutures is home to innovative businesses such as FormFlow, which specialises in metal-bending technology, 3D additive manufacturer Conflux Technology and Partington Advanced Engineering, whose products include carbon fibre bike wheels.

In welcoming the announcement by Corangamite MP Sarah Henderson, Deakin’s deputy vice-chancellor research Professor Julie Owens said the export acceleration program involved several supports including access to mentors, researchers and subsidised access to trade missions.

“Through MEAP, we will aim for our ManuFutures enterprises to achieve self-sufficiency within two years, taking a multifaceted approach to building their business expertise and capacity,” Prof Owens said.

The program also involves support through project teams of Deakin’s Work Integrated Learning students and interns, and access to researchers from the university.

Ms Henderson said the grant, part of the Government’s Incubator Support Initiative, recognised the important role ManuFutures played in the local and national economies, noting that some of the tenants had also received significant direct funding through other Federal Government programs.