Innovation is at the heart of the Mining Equipment Technology and Services (METS) sector operating across Victoria.
A great recent example is Ballarat’s Gekko Systems responding to the COVID-19 pandemic by adapting its skill manufacturing mining plant equipment to create a prototype ventilator for hospital use.
So, it is no surprise that METS companies across the state are in a good position to benefit from a new research and development fund designed to boost the prospects of Victoria’s brightest innovators.
The Victorian Government’s Research and Development Cash Flow Loans initiative is open for applications.
Successful applicants will be able to borrow between $250,000 and $4 million in low-interest loans, with total funding under the two-year scheme capped at $50 million.
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.
Modern mining has a sophisticated, innovative, and varied supply chain. METS involves many sectors of our economy, including, engineering consulting, construction, information technology, and professional services.
Read about some of the practical solutions driven by Victoria’s METS sector.