MANUFACTURING READINESS GRANTS
Indiana’s manufacturing industry is critical to the state’s economy and success. To ensure the industry retains its national leadership position and embraces advanced technologies, Conexus Indiana is partnering with the Indiana Economic Development Corporation (IEDC) to launch a new Manufacturing Readiness Grant program.
In partnership with the IEDC, Conexus Indiana is now accepting applications for up to $200,000 in matching grants for companies committing to increasing their competitiveness by integrating smart technologies and processes in order to improve capacity, capability, speed and quality. Funding may also be utilized for health care manufacturing technology, providing financial assistance to manufacturers supporting COVID-19 response efforts.
This grant was launched as part of the IEDC’s Economic Activity Stabilization and Enhancement (EASE) program aimed at supporting technology and operational advancements in the manufacturing industry. The goal of this program is to expand critical knowledge and lower the barriers to smart manufacturing technology adoption and healthcare manufacturing equipment procurement at a time when Indiana manufacturers are faced with unprecedented challenges.
Frequently Asked Questions
After businesses apply online, Conexus will receive and qualify grant applications through a committee review process, comprised of a diverse, statewide group of industry and academic professionals selected by Conexus and approved by the IEDC. The committee will evaluate grant applications and offer recommendations to the IEDC.
The Smart Manufacturing Advisory Committee includes a diverse, statewide, multi-sector and distinguished group of Conexus Smart Manufacturing Fellows.
Advanced manufacturing in Indiana is diverse in many ways, and it is anticipated that this will be reflected with a wide variety of project opportunities for consideration. Each will be evaluated on its own unique merits and context as described by the applicant within their application submission, which is encouraged to be as detailed and descriptive as possible.
Projects should focus on investments in commercial-ready equipment through established vendors, and leverage technologies such as industrial internet of things (IIoT), sensor technology, COBOTS, additive manufacturing (3D printing), big data and analytics, cybersecurity, machine learning, artificial intelligence (AI), digital twin, advanced modeling, blockchain, autonomous robotics or vehicles, augmented, virtual or mixed reality, cloud computing, and advanced communications (5G, etc).
Applications will be reviewed by the committee on a monthly basis.
Depending on when the application is submitted, it may take 1-2 months for an application to be considered and a recommendation issued.
Manufacturing Readiness Grants serve as reimbursements for qualified technologies. Once approved, Indiana businesses must complete the project specified in their grant application followed by submitting documentation (i.e. receipts, other proof of purchase) and undergoing a site visit with project checkoff, prior to receiving the reimbursement.
Grants must be matched by the company on a minimum 1:1 basis and are available up to $200,000. A smaller matching ratio and/or a smaller grant may be awarded based on the company’s evaluation criteria.
Indiana businesses will be expected to participate in a case study upon successful conclusion of any project that received grant funds. The case study, which will be coordinated with and approved by the company, will highlight the company’s project outcomes as a means to share best practices while increasing broad understanding of technology use cases in manufacturing and spurring greater adoption across the state’s manufacturing base. Only non-proprietary information will be shared in the case study.
A grant award will be contingent upon an applicant entering into a “grant agreement” detailing full terms and conditions of the grant prior to any qualifying project expenditures occurring for which reimbursement will be sought. Some of the terms and conditions include:
- Payment shall be made on a reimbursement basis upon submission of proof of expenditure,
- Right of first refusal on purchased equipment so long as book value is above $5,000 using straight line 10-year depreciation,
- Favored Nation pricing & Terms for at least 3 years for products produced using equipment,
- Indiana would have prioritized capacity for production off of equipment,
- Subsidized equipment through this program will be ineligible for the HBI Tax Credit.