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Western Australia’s AUKUS SME Readiness Fund has boosted seven new businesses into the state’s industrial defence market.
Matrix Composites & Engineering, FSC Civils, Terral 5 Technologies, Murlaw, Mig-Co Engineering, Kanyana Engineering, and Rollwell Engineering have all secured financial backing through the fund, allowing them to enhance their businesses and strengthen their presence in the supply chain.
The grants of up to $100,000 are to be used to invest in “skills, systems and processes” that will allow the companies to position themselves in the AUKUS supply chains.
“Western Australia has the capability, the expertise and the industrial base to play a major role in supporting AUKUS, and these businesses are proof of that,” said WA’s Defence Industries Minister Paul Papalia.
“We’re seeing more WA companies step up and position themselves to compete for work tied to one of the most significant defence and industrial undertakings in decades.
“These grants will help local SMEs build the systems, skills and credentials they need to break into highly competitive US and UK defence supply chains and secure long-term opportunities.”
The seven businesses awarded the backing will enable them to access international and domestic markets from a strengthened point, as Australia continues to expand its sovereign defence capabilities.
The grant applications saw more than 35 businesses put their names down with the hopes of being recognised, signifying the growing competitiveness in the market.
“This is about growing sovereign capability here in Western Australia, backing local industry and creating skilled jobs for the future.
“Through our Made in WA Plan, we are ensuring WA businesses are well placed to benefit from the opportunities AUKUS will deliver over the long term.”
The AUKUS SME Readiness Fund was established to help WA businesses access opportunities more effectively.
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