Australian Government's Industry Skills Fund

The $476 million Industry Skills Fund—Growth Stream is a key element in the Australian Government's Industry Innovation and Competitiveness Agenda and will deliver up to 200,000 training places and training support services over four years

The $476 million Industry Skills Fund—Growth Stream is a key element in the Australian Government's Industry Innovation and Competitiveness Agenda and will deliver up to 200,000 training places and training support services over four years.

The Fund provides Australian businesses with access to training so that they are better placed to succeed in a rapidly changing economy.

The Fund primarily targets Small and Medium Enterprises (SMEs), including micro businesses, which plan to upskill and reskill their workforces to better position themselves for growth opportunities.

Businesses that apply for funding under the Industry Skills Fund must financially co-contribute to the proposed project.

Large businesses are also eligible for the Fund, but will be required to make a higher contribution to the costs of training.

Assistance is available in the following categories:

Skills Advice—A service delivered free of charge to eligible businesses through a nation-wide network of expert Skills Advisers. This service provides help identifying skills opportunities and maximising training outcomes.

Training Grants—A Co-investment for businesses looking to improve the skills of their workforce for an identified growth opportunity.

The Fund will prioritise businesses in the industries listed below. If a business is not in a priority industry, they may still be eligible to apply. Priority industries include:

 - food and agribusiness;
 - mining equipment, technology and services;
 - medical technologies and pharmaceuticals;
 - oil, gas and energy resources;
 - advanced manufacturing, and
 - enabling technology and service industries that support one or more of the priority areas listed above.

Applications are currently being accepted.

For more information on the Industry Skills Fund, please visit http://www.business.gov.au/grants-and-assistance/Industry-Skills-Fund/Pages/default.aspx