In 2016 StartupAUS and KPMG released Powering Growth, a report detailing the potential for agtech in Australia. A year on, we provide an update on the state of play in the sector.
Momentum has developed quickly within the Australian agtech ecosystem. Since releasing Powering Growth in September 2016, there has been an increase in capital invested into startups, the emergence of several agtech incubators and accelerators, and numerous summits focused on showcasing Australian agtech startups and connecting the sector to investors. There are also encouraging signs from the federal and state governments to make it easier for entrepreneurs to access cash and support.
Powering Growth provided 12 recommendations across three key themes – Capital, Connectivity, and Direction.
Here we’ve produced a snapshot of some of the key activities and initiatives over the past 12 months within Australia’s agtech ecosystem. There is growing interest and focus on agtech with industry, government, investors, corporates and farmers driving significant innovation, focus and funding. Real momentum has been generated in the sector, with agtech enabling the agrifood industry to grow to $100 billion in export earnings by 2030.
Following are some of the many highlights in agtech over the last 12 months.
Download StartupAUS’s Crossroads report (www.startupaus.org/crossroads) to understand the state of play of the tech startup ecosystem in Australia, including agtech.