The funding, provided through the Supplier Access to Major Projects (SAMP) program, is going towards the network’s involvement with the China Australian Mining Development Alliance and Australian Mining Services International and their work to bridge business links with China.
According to the ICNNSW, the three parties are working to identify potential Chinese customers to enable export of Australian products and services and to develop ongoing supply chains for that purpose.
Key areas targeted for Australian companies in China involve coal mine safety products and services, especially in draining methane from gassy mines, as well as ultra-clean coal technologies, coal seam methane power and coal beneficiation plant development.
“Small to medium-sized companies can often be overlooked for the supply of major projects in a competitive global market," said Innovation, Industry, Science and Research Minister Kim Carr.
“SAMP represents an investment in the health and future of Australian industry. It has already helped Australian companies win contracts worth an estimated $2 billion for work which may otherwise have gone overseas.
“I strongly encourage Australian suppliers to register with their local Industry Capability Network office to increase their opportunities to bid for work in these major projects."
From Friday’s announcement, a large chunk of the $A1.4 million in funding – a grant of $A468,038 – is going to Team Australia Automotive to assist Australian automotive companies to enter North American markets.