Victoria is Australia’s largest agricultural producer, but despite our reputation as the nation’s food bowl, our AgTech sector remains small and underdeveloped.
Research commissioned by LaunchVic estimates less than 40 AgTech startups in Victoria, with 80% of these based in Melbourne.
To help more Ag entrepreneurs to start up, we’re partnering with Agriculture Victoria on a $2.2 million initiative designed to boost the number of Victorian AgTech startups and build entrepreneurial culture and capability in this crucial sector.
We funded three world-class programs Farmers2Founders, Rocket Seeder and SproutX to run pre-accelerator programs, set to equip close to 500 aspiring entrepreneurs with the skills to turn an idea into a business.
Rocket Seeder is delivering a 12-week AgTech Seeds Pre-Accelerator Program. The program supports startup creation by bringing together “hybrid” teams of aspiring AgTech entrepreneurs and researchers creating AgTech-applicable IP and know-how at Victorian universities and Publicly Funded Research Organisations.
What is AgTech?
AgTech uses digital technology to provide the agricultural industry with the tools, data and knowledge to make more informed and timely on-farm decisions and improve productivity and sustainability. Areas of application may include plant or animal science, crop protection & Input management, precision agriculture, indoor agriculture, sensors & smart farm equipment, imagery, animal technologies, processing & packaging, supply chain and hardware.
<40 startups active in Victoria
80% of startups based in Melbourne
Home to more than 15 agricultural innovation and research centres
$15.9 billion of ag products in 2018-2019