Powered by MOMENTUM MEDIA
cyber daily logo

Breaking news and updates daily. Subscribe to our Newsletter

Breaking news and updates daily. Subscribe to our Newsletter X facebook linkedin Instagram Instagram

Victorian defence SMEs secure cyber security funding

Small businesses from across the state have received funding to modernise their manufacturing processes, which includes the minimisation of cyber security risks.

user iconReporter
Tue, 05 Oct 2021
Victorian defence SMEs secure cyber security funding
expand image

The Victorian government has issued $1.36 million in funding to local defence SMEs via its Smart Enough Factory program, aimed at supporting the modernisation of design and manufacturing processes.

The funds, delivered by DMTC Limited (formerly the Defence Materials Technology Centre), are expected to facilitate investment in digital technologies, in a bid to reduce costs, skill shortages or security vulnerabilities – supporting entry into defence supply chains.

The Smart Enough Factory pilot program has commenced with Victorian small businesses Australian Precision Technologies, APV Corporation, AW Bell, Heat Treatment Australia and Ronson Gears.

============
============

The full-scale program is scheduled to launch later this year for an initial period of three years.

Approximately 20 Victorian defence businesses are expected to participate each year, with up to eight undergraduate or postgraduate interns also taking part through a scheme administered by the Defence Science Institute (Victoria).

“We’re supporting our defence industry to become ever more responsive, adaptive and connected – ensuring we lead the way in advanced manufacturing, innovation and technology,” Minister for Industry Support and Recovery Martin Pakula said.

“This program will help defence businesses to grow and transform, supporting jobs and economic growth and cementing Victoria’s status as the advanced manufacturing capital of Australia.”

DMTC Limited chief executive Dr Mark Hodge said the initiative would help support broader efforts to enhance sovereign industrial capability.

“This program is not just about getting companies to the starting line, it’s about putting companies in a better position to compete and win work,” he said.

“It’s about tangible actions to put industrial capability in Australian hands.”

Victoria’s defence industry reportedly contributes $8.4 billion to the state’s economy each year, employing approximately 24,000 people in 6,300 businesses.

newsletter
cyber daily subscribe
Be the first to hear the latest developments in the cyber industry.