$1 million has been invested into a current Victorian AgTech program for startups looking to build their business
The Victorian government has pledged an additional $1 million towards its AgTech Grant program, that will see $50,000 invested into eligible startups looking to build their business capability.
Since 2023, the program has awarded grants to 19 startups providing services in supply chain efficiency, farming automation, soil sensing intelligence and pollination management systems.
Delivered in partnership with the state’s startup agency, LaunchVic, the grant provides founders with mentoring services from startup experts, to help build their businesses.
The additional $1 million investment was driven by the success of the first round of the program and will help advance technology in the agricultural sector, the state government says.
“AgTech startups are driving innovation and adaptation in our agriculture sector, and we are providing crucial support in their early critical stages,” agriculture minister Ros Spence says.
LaunchVic CEO Kate Cornick says Victoria’s AgTech sector is experiencing major growth in the last couple of the years with LaunchVic supporting a large number of new companies.
“Since 2020, the number of idea-to-early-stage AgTech startups has more than doubled, and more than half of new companies have been supported by a LaunchVic and Agriculture Victoria-funded initiative,” she says.
A notable recipient of the first-round program is Drone-Hand. The Victorian government says it is the first commercially available, user-friendly, AI driven, automated flight-app for livestock monitoring.
Applications are currently open and will remain open until June 30 2024. To read more about past recipients and to apply for new grants visit launchvic.org.
For more information on the AgTech Grant program visit agriculture.vic.gov.au/AgRIN.