Picture a landscape where advanced technology seamlessly collaborates with established and evolving farming practices —a union known as agricultural technology (agtech).
This exciting industry combines innovation, automation and cultivation, where drones replace traditional scarecrows and satellites do much more than just star gazing. Certainly, not a passing trend, agtech represents an exciting shift in the agricultural landscape and offers so much opportunity.
Agtech’s essence lies in enhancing efficiencies and harnessing intelligence and is seen as an industry contributing real solutions to a sustainable future. With sensors providing intricate details about the soil and robots gracefully navigating the fields, agtech unfolds as a futuristic agricultural assistant, propelling the industry into a new era of sophistication, sustainability and productivity.
Agtech, encompasses a wide range of innovations aimed at improving various facets of farming.
Precision agricultural processes, sophisticated automation, and data-driven solutions are among the transformative technologies shaping and evolving traditional farming practices.
In Australia, grants and funding programs are available to support the integration of these technologies into the agricultural landscape such as:
Government bodies, including the Department of Agriculture, Fisheries and Forestry and private institutions like AgriFutures Australia are actively supporting and promoting Australian agtechs through funding programs and fostering a healthy networking ecosystem, hosting world leading events.
These initiatives provide vital financial support and access to a global industry network that enable Australian farming establishments and agtech companies, to explore, implement, and scale innovative technology solutions.
This year Perth is poised to become the hub of agrifood innovation in the Asia Pacific by hosting the renowned evokeAG event from the 20th – 21st of February, 2024.
The unique international event is designed to bring together the brightest minds from various spheres – agriculture, food manufacturing, research, innovation, investment, and policy.
If you are a producer, investor or service provider in the agtech space and looking to connect with like-minded global peers and draw on the wealth of knowledge that exists at this event, we highly recommend you grab yourself a spot! If last year’s event was anything to go off, it’s going to be one to remember!
The Research and Development Tax Incentive (R&DTI) is an essential program that supports the growth and competitiveness of the Australian agricultural sector.
By offering tax offsets, the R&DTI makes it more feasible for agricultural businesses, both big and small, to invest in research that could lead to groundbreaking discoveries, digital advancements and sustainable and regenerative farming initiatives. This not only fosters innovation within individual companies but also elevates the Australian agricultural sector on the global stage.
AusIndustry have published guidance on the types of agtech initiatives that may qualify for the R&DTI and can be found here.
Funding opportunities for agtech projects cater to various stages of development, from startups with blue-sky ideas to established farming organisations looking to drive efficiencies and improve productivity by incorporating the latest technologies.
In the expansive fields of Australian agriculture, the integration of agtech is catalyzing a transformative journey. Businesses can leverage the expertise of specialist R&D incentives and grants consultants to obtain funding, in order to continue to benefit from this transformation.
This strategic partnership becomes particularly vital as organisations explore agricultural technology incentives and grants and delve into research and development activities. Amidst this landscape, abundant funding opportunities, encompassing R&D and agtech initiatives, beckon innovators to propel the sector forward.
Harnessing these funding opportunities is not merely a financial endeavour but a pathway to sustainable growth. Technological advancements, and the realisation of a future where agtech plays a pivotal role in shaping the agricultural landscape of Australia is also offering real solutions to the challenges that climate change poses.
At Gild R&D Incentives & Grants, our team’s broad network and deep experience with this sector will help you access funding opportunities for your research and technology developments as you work towards commercialisation.
