AgTech growth fund open for business

Collaboration between South Australian farmers and technology providers will characterise a new $3.35 million AgTech Growth Fund.

The AgTech Growth Fund is specifically designed to find solutions to on-farm problems by accelerating the development of new technology.

Minister for Primary Industries and Regional Development David Basham said the $800,000 of grant funds available this year and $850,000 in each of the following three years will be a significant boost to the AgTech industry.

“The Marshall Liberal Government wants to support opportunities in South Australian agriculture to increase productivity, profitability and create jobs, and that’s why we’ve created the unique AgTech Growth Fund – the first of its kind in Australia,” Minister Basham said.

“Our farmers are some of the most innovative in the world but the adoption of AgTech has not happened as widely as needed if we are to see dramatic growth in productivity and profitability.

“Farmers face many challenges such as tough seasons and global market disruptions but these challenges can motivate industry to innovate and the AgTech Growth Fund will invest up to $3.35 million to develop technology to do things better on farm and through the agriculture supply chain.

“The potential return on fully realising the adoption of AgTech is estimated at $2.6 billion per annum in extra agriculture gross value of production in South Australia and unlocking this growth is what this fund is all about.

“We have mapped out a pathway for the growth of AgTech in this state, setting up a key advisory group, formulating a Strategic Plan, and then providing practical support to link up technology providers with our agricultural communities to solve real farm problems.

“The Government has supported development of AgTech demonstration farms, AgTech field days and tours, launched ThincLab Loxton and new AgTech start-up hubs in the South East and Eyre Peninsula, and hosted AdvanceAg – a conference designed to ensure agribusiness and AgTech developers build productive collaborations.

“AgTech has an important role to play in progressing the Government’s Growth State initiative to boost industry and jobs in regional South Australia.”

To be eligible, applicants must be South Australian-based and proposing outcomes that deliver results to the state’s agricultural sector. The AgTech Growth Fund will provide grants of up to $100,000 on a 50:50 contribution basis to collaborative private sector projects that address a specific primary production industry challenge.

The AgTech Growth Fund is a key component of the $5.2 million AgTech Revolution Program detailed earlier this year in the State Budget. For more details visit:  https://pir.sa.gov.au/primary_industry/agtech/agtech_growth_fund.