Victorian startup company LaunchVic has introduced the most recent spherical of funding, through which it is going to particularly concentrate on AgTech start-ups. This specific spherical is a flagship initiative of Agriculture Entrepreneurs, LaunchVic’s new $2.2 million partnership with Agriculture Victoria in support of start-ups within the agricultural sector which makes use of digital expertise to present the business with the instruments, knowledge and data to make extra knowledgeable and well timed on-farm choices and enhance productiveness and sustainability.
LaunchVic CEO Dr Kate Cornick expounded that whereas Victoria is Australia’s largest agriculture producer, incomes the fame because the nation’s meals bowl, the state’s AgTech sector stays small and underdeveloped.
“Research by LaunchVic to inform future work in this space found there were less than 40 AgTech start-ups in Victoria with 80 per cent of these based in Melbourne,” Dr Cornick mentioned. “For comparison, there are more than 2000 active start-ups in Victoria, of which 400 are focused on HealthTech.”
Grants of up to $600,000 shall be supplied to run pre-accelerator applications that present chosen AgTech entrepreneurs with the support, mentorship and networks they want to flip an thought right into a viable enterprise.
To guarantee extra market-led options circulation again to the agriculture sector, start-ups supported via the LaunchVic funded applications will come from a spread of backgrounds, from farming and agriculture to company and deep tech.
Dr Cornick mentioned that the three-year partnership would enhance the variety of Victorian AgTech startups and construct entrepreneurial tradition and functionality on this essential sector.
“Farmers are natural innovators, constantly adapting to droughts, changing seasons and now, global pandemics,” Dr Corniick mentioned. “Pre-accelerator programs translate this ingenuity into a framework for success so that from little things, big things grow.”
James Terry is an asparagus farmer and a fourth-generation meals producer, and the CEO of CloudFarming. “Start-ups are delivering landholders with new on-farm solutions, often in the form of data-driven technologies, which afford a new level of insight into profitable and sustainable farming practices,” Terry mentioned.
“CloudFarming completed the CivVic Labs Accelerator program, where we developed a farm robot that improves harvest productivity and worker safety, backed by WorkSafe Victoria. It’s pre-accelerator programs like these, supported through LaunchVic’s new grant round, that build a stronger Agtech startup sector,” Terry averred. “They do so by supporting Victorians from farming backgrounds who can use their expertise to build new solutions, which ultimately benefits our agricultural sector and regional economies to boot.”
The grants spherical is about to finish at 10.00 am on 27 October 2021.