15 July 2021
Helping local health manufacturer modernise
The Morrison Government is providing local company WearOptimo Pty Ltd with a $973,000 grant to increase its competitiveness and productivity, while also helping to grow local jobs.
The grant is being delivered under round two of the Manufacturing Modernisation Fund (MMF), which is providing grants totaling $55 million to 86 projects around Australia.
The grants help small and medium sized manufacturers invest in capital equipment and new technologies, while improving the skills of their workers - a central element of the Government’s $1.5 billion Modern Manufacturing Strategy to drive growth in the sector.
Assistant Minister to the Attorney-General, Assistant Minister for Industrial Relations and Assistant Minister for Women, Queensland Senator Amanda Stoker said the grant would help WearOptimo create greater efficiencies by transforming and upgrading their manufacturing operations.
“By encouraging businesses to enhance their operations through investment in cutting-edge technologies, we’re also supporting them to create new job opportunities, boost economic growth and build a highly skilled manufacturing workforce.”
“This funding will help WearOptimo to modernise its business and create new opportunities, including local jobs,” Senator Stoker said.
“It reflects well upon the quality of businesses in Queensland, as well as providing an example of what others can also achieve.”
WearOptimo Pty Ltd provide affordable, wearable technology that allows people to read their health signals in real time. The company is working on next generation wearable devices for continuous monitoring in precision health.
Businesses which receive MMF grants are required to match government funding on a three-to-one basis, with government grants funding up to 25 per cent of eligible project expenditure.
MMF round two was a competitive merit-based grants program, with applications assessed by a committee of independent industry experts.
The six National Manufacturing Priorities of the Strategy are: Resources Technology and Critical Minerals Processing, Food and Beverage, Medical Products, Recycling and Clean Energy, Defence and Space.
For a full list of successful recipients under the Manufacturing Modernisation Fund round two, visit www.business.gov.au/MMF.
Media contact: Valeria Cheglov 0438 494 351 / Patrick Hannaford 0424 625 518
Authorised by Senator the Hon Amanda Stoker, Liberal National Party, Queensland