Tasmania’s small and medium-sized businesses will be better placed to capitalise on the fourth industrial revolution through funding allocated in this week’s Mid-Year Economic and Fiscal Outlook (MYEFO) statement.
The Liberal National Government has allocated $1 million to develop an Industry 4.0 Testlab at the University of Tasmania to improve digital capabilities for small and medium enterprises.
Minister for Industry, Science and Technology Karen Andrews said the new initiative would open doors to local industry, especially small businesses.
“The University of Tasmania is a recognised leader in industry-driven collaborative research and we want to harness that expertise to build better industry partnerships to help grow Australia’s economy and create more local jobs,” Ms Andrews said.
“This new testlab will be an opportunity for future-focussed businesses to work with researchers and experts to increase their skills in new digital technologies.
“The University of Tasmania has world class research strengths in environmental sustainability – in areas such as agriculture, forestry, fisheries and tourism.”
“The Liberal National Government is driving more opportunities for Tasmanian research and data excellence to be converted into stronger industries that export to the world and support Australian jobs.”
The fourth industrial revolution, also known as Industry 4.0, is rapidly transforming how businesses operate and involves technologies like advanced automation and robotics, machine-to-machine communication and sensor technology.
The Industry 4.0 Testlab at the University of Tasmania will:
- provide a physical space for businesses and researchers to trial, explore and showcase Industry 4.0 technologies and processes
- enable educational institutions and industry, particularly small and medium enterprises, to work together
- develop skills needed to take full advantage of opportunities presented by the fourth industrial revolution
The Coalition is committed to supporting regional industries and jobs and this funding builds on the recent announcement of $5 million in funding to support the Queensland bait prawn industry as it recovers from an outbreak of white spot syndrome virus.