Have you considered implementing Industry 4.0 technologies such as automation at your manufacturing facility? I bet the answer is yes, but like many manufacturers, you may lack the funding and time commitment or be unsure about the return on investment. Well, you may be in luck, but you’ll need to act fast!
The Michigan Economic Development Corporation (MEDC) announced a new grant program for small manufacturers in Michigan. These grants are available to businesses that are looking to adopt Industry 4.0 technologies—defined as the convergence of digital and physical technologies, including artificial intelligence, 3D printing, robotics, augmented and virtual reality, the cloud and cybersecurity.
Businesses that meet the guidelines below can apply for grants of up to $25,000 as part of the $3 million Industry 4.0 Technology Implementation Grant program. This MEDC-led effort is designed to help half of Michigan manufacturers—or 6,200 businesses—prepare to adopt Industry 4.0 technologies by 2025.
- Your company is classified as a manufacturer according to NAICS code
- Your proposed project is taking place at a Michigan manufacturing facility, and you will be able to provide a current certificate of good standing from the Michigan Department of Licensing and Regulatory Affairs if awarded a grant
- Your company is classified as a small business by the Small Business Administration
- Your company must complete an I4.0 Technology Assessment by the MMTC prior to award OR provide documentation of an executed strategy for determining which technology to implement
- Your company must have an Automation Alley membership
To qualify for this grant, companies must clearly define which technology will be implemented and establish a timeline, budget and anticipated outcomes of the project. Eligible technologies include hardware/software related to the following Industry 4.0 categories, with preference given to transformative technologies (denoted with a * below):
- Additive Manufacturing & Advanced Materials*
- Artificial Intelligence*
- Big Data
- Cloud Computing
- Industrial Internet of Things (IoT)
- Modeling, Simulation, Visualization & Immersion
- Connected Worker Platforms & Wearables
This competitive grant program will provide 50% reimbursement for qualifying Industry 4.0 technology costs up to $25,000. Companies are required to cover the remaining cost of the technology project. For example, a company would need to spend at least $50,000 to receive the full $25,000 grant reimbursement.
Applications will be accepted on a rolling basis until all funding has been allocated, so time is running out!
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If you’re interested in learning more about the MEDC Industry 4.0 Technology Implementation Grant program or how to use these Industry 4.0 technologies to maximize efficiency, cut costs and increase profitability in your manufacturing business, please contact us today.