A StartupAUS report, co-authored by KPMG, and supported by the Queensland Government and the Commonwealth Bank of Australia (CBA), aims to uncover the opportunities for Australia in agricultural technology.
The report makes a series of recommendations aimed at growing the AgTech sector in Australia in order to provide producers with the tools, data and knowledge to make more informed and timely on-farm decisions and improve productivity and sustainability.
Drawing on discussions with more than 60 stakeholders – including AgTech startups, farmers and agribusinesses, research bodies, government, and investors, the report identifies three key components necessary for Australian agtech to reach its full potential – capital, connectivity and direction.
A value chain exists that encompasses the very first input into production of our food and continues all the way through to the customer. The customer ultimately drives change by providing the demand for various types of food, the source of food, how food is delivered and limitation of wastage. Improved connectedness across each link of this chain will enable farmers to be better able to provide a sufficient and sustainable food supply to meet customers’ needs.
AgTech, biotech, genetech, foodtech, and food ecommerce are all important elements of the integrated value chain. AgTech specifically, operates almost exclusively in the initial input and production phases.