South Australian Business Chamber member Hendon Semiconductors (HSC) has been awarded a grant from the State Government’s Economic Recovery Fund to accelerate the development and production of medical products.
The $154.2 million scheme aims to support businesses and industries in key areas, helping to create secure, well-paid jobs, boost productivity, increase exports, and promote innovative, value-adding technologies within South Australia.
HSC specialises in the design and manufacture of microelectronic circuits and subassemblies, providing products to highly regulated markets, including defence, medical, rail, power distribution, and housing sectors.
As reported by InDaily this week, Hendon Semiconductors has received over $600,000 from the government scheme, which will contribute to the company’s $1.25 million facility upgrade.
The Economic Recovery Fund offers grants covering up to 50% of eligible project or proposal costs, with HSC committing to match the investment totalling $1,227,522.
Under the upgrade plan, HSC is expected to add clean room and sterilisation facilities to its manufacturing centre, enabling the company to expand its services to medical and defence clients.
In round one of the Economic Recovery Fund, more than 280 applications were submitted, with financial assistance awarded to 17 applicants, totalling $26.3 million.
Applications for round two are now open, with $20 million allocated to support up to 8,000 eligible small businesses and not-for-profit organisations in investing in energy-efficient equipment or other improvements to reduce and manage energy use and costs.
Grants ranging from $2,500 to a maximum of $50,000, requiring a matching contribution from the applicant, are available on a first-come, first-served basis until the funding is exhausted or until 29 November 2024, whichever comes first.
