$20M Victorian Industry Development Fund Discontinued Without Grants
The Victorian Industry Development Fund, initially aimed at boosting future industries, has been terminated without any grants awarded. The funds will be redirected to a larger $150 million initiative, according to state budget documents.
Theia Market Signal Identification - AI AssistedThe Allan government has discontinued the $20 million Victorian Industry Development Fund (VIDF) 18 months after its announcement, reallocating the funds to other initiatives. Originally introduced in October 2024 to stimulate growth in advanced manufacturing, health technology, digital technologies, agribusiness, and the circular economy, the government now states that the intended benefits will be realized through a broader $150 million scheme. The lack of grant distribution raises concerns about the effectiveness of funding strategies and the future support for targeted industries in Victoria.
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