Agtech startups operating from inland Queensland and northern NSW have the opportunity to gain a much-needed boost with funding being granted for the AgFrontier Agtech Incubator.
The ground-breaking new program lead by Central Highlands Development Corporation and X-Lab will provide regionally-based startups the opportunity to work and grow in a dedicated program designed specifically for rural businesses and individuals who have a practical understanding of agriculture.
CHDC agribusiness development coordinator Liz Alexander said the program would allow people who live and work in rural areas to participate in the innovation ecosystem without having to lock up their businesses and go to another urban area.
"We know as well as we strongly believe, that the sorts of people who have these great ideas from regional areas, those sorts of ideas are far more likely to succeed because they understand the market and they're trying to find solutions to real problems," she said.
The initiative builds upon the success of the sold-out AgTeCH17 in the Central Highlands and AgTeCH18 events in Mungindi, NSW, which showcased a wealth of talent, passion and expertise in the regions, as well as the strong demand for new technologies.
"We've developed it in really close consultation with a number of the startups that we've helped to support," Mrs Alexander said.
"For example, SwarmFarm has been providing us with a lot of inputs into the sort of support, networks and advice that they would have loved when they were starting off, that would have really helped them on their journey.
“We want to connect, support and unlock opportunities for other innovative agricultural startups, scale-ups and spin-offs, who also have the potential to go global, while still operating a regionally based business.”
Ten individuals and/or businesses will be chosen to participate in the 16-month program, which will include a tailored curriculum of regular workshops, virtual coaching, and businesses fostered by X-Lab’s startup network and tech ecosystem.
The cohort will access national and international investor and peer networks, with a featured showcase at the Emerald AgTeCH19 and Mungindi AgTeCH20 events, a Global Linkages mission to the USA, and the opportunity to pitch to relevant investors at the Incubator’s conclusion.
Mrs Alexander said they were thrilled that the Australian government has recognised the importance and value of investing in regional Australia and its rapidly growing agtech industry.
Minister for Agriculture David Littleproud highlighted the importance of investing in regional Australia when he released a report which aims to set a new strategic vision for rural innovation.
"For agriculture to become a $100 billion industry, we need to keep innovating and convert smart ideas into tools the farm industry can use," Minister Littleproud said.
"Converting good research into tools and technology helps create careers our country kids can come home to.
"That requires a world-class, modern agricultural innovation system that attracts investment from around the globe."
Minister Littleproud said while Australia has been renowned for research and development, the report indicated that our rural innovation system was not keeping pace with our competitors.
"The report suggests we need individual regions to contribute more to rural innovation," he said.
