Snippets:
Tech startups could add up to $109 billion to GDP along with creating 540,000 jobs by 2033. For startups to achieve that level of contribution, they need industries where innovations can provide significant value. Australian agriculture is just that: a high value core national industry with significant potential for innovative impact.
According to the Australian Bureau of Statistics (ABS), the agriculture, forestry and fishing sectors have the lowest proportion of ‘innovative-active’ businesses in Australia. New thinking and new approaches to farming and production are needed to drive our ambitions for growth in the sector.
AgTech Report Recommendations:
PARTNER WITH INDUSTRY TO DRIVE REAL RESULTS
• Industry leadership and consultation is crucial to driving strategy and improving adoption of AgTech.
• Entrepreneurs need facilitated connection to industry and transparency regarding key priorities.
• Investors need key contacts within industry to enable their own focus and understanding of value propositions for AgTech.
• Industry needs guidance in technology and early stage business investment.
WE DON’T NEED TO DO IT ALONE
• Invest in bringing developed AgTech solutions from overseas and adapt them to the local environment – i.e. Canada’s approach.
• Create mutually beneficial alliances with other countries – tap into the brains trust to develop together and attract international attention and investment – i.e. Israel.
• Engage the whole supply chain – we will achieve more together than we will alone.
• It’s the role of government to enable, industry to educate, connect and act, researchers and entrepreneurs to work with industry and understand the problem and value propositions.
The report profiles six Aussie startups on the cutting edge of AgTech in Australia, talks to over 60 stakeholders across industry, government, investment and research and compares Australia to seven global AgTech players. It outlines both the opportunities and challenges for the sector, and outlines 12 practical recommendations that will help achieve our lofty ambitions in the space.
If you haven’t had the chance to check it out, click here to download it & read in its entirety.
Via #StartupAus
