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Australian farmers are early adopters of precision farming technology, such as GPS and yield predictors. In the cropping and broadacre sector, this has resulted in productivity increases of up to 20 per cent over the last two decades.
CEO of
Food Agility
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for filing alternative
protein patents
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globally
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industry valuation in 2020-21
2.
billion
in the agrifood sector
2,
companies
Australia produces more food and fibre than it can consume, exporting around 70% of its product to global markets hungry for quality beef, wheat, sugar, barley and wine.
And yet Australia is ambitious to lift agricultural production by a third to A$100 billion by 2030. The plan is backed by A$850 million over the next five years in targeted initiatives to help farmers, fishers and agtech companies seize new opportunities and trial new high-tech solutions.
“Australian farmers are early adopters of technology, such as precision farming techniques, GPS and yield predictors,” says Richard Norton, CEO of Food Agility. “In the cropping and broadacre sector, this has resulted in productivity increases of up to 20 per cent over the last two decades. We produce enough food to feed the nation three to four times over.”
Innovators across Australia are reinventing the way food is produced and processed. Supported by incubators, accelerators and industry groups, hundreds of agtech and foodtech companies are advancing next-generation technologies that will revolutionize the global food supply chain.
“Smart farming technology is a tremendous area of interest at Australia’s universities,” says Bahare Mohamadzade, agtech researcher at Macquarie University. “Examples of novel research are the development of various types of sensors for continuous water and soil quality monitoring, and the detection of humidity and CO levels in greenhouses.”
Australia offers significant government funding and legislative support for agtech and foodtech research, innovation, investment and commercialisation efforts.
“There are 15 development corporations that are funded through a combination of producer levies and the federal government,” says Sarah Nolet, CEO and Founder of AgThentic. “They invest hundreds of millions of dollars into agricultural research each year.”
“The research system is part of the reason that our farmers have been so successful and achieve great outcomes. There's also many other incentive programmes around venture capital as well as R&D tax incentives.”
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Australia’s food and fibre is in demand worldwide and attracts premium prices. Its reputation for clean, green and safe produce make Australia a compelling destination to develop, commercialise, scale and source the next generation of agriculture and food technologies.
Sarah Nolet,
A Hub for
Co-Founder of
Agthentic Group
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Australia accelerates
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Australia’s food producers, scientists and researchers are also changing what we eat.
Access to world-class research, a thriving innovation ecosystem and diverse agricultural environments make Australia a hotspot for global food manufacturers. Tapping into Australia’s novel food ingredients, next-gen production technologies and supply chain expertise empowers them to unlock new opportunities.
Ample support from innovation hubs like The Food and Agribusiness Growth Centre (FIAL) also give companies in Australia an advantage. FIAL accelerated the international expansion of Byron-Bay-based Extraordinary Foods, mentoring the start-up as it launched its vegan health foods in the UK.
As global consumption habits change, Australia is proving the perfect testbed for developing and trialling products that cater to evolving tastes. Australia is the fifth-largest destination globally for filing alternate protein patents as of 2020.
With global demand for protein forecast to increase 20% on 2018 levels by 2025, companies from the U.S., Germany, Switzerland and elsewhere are rushing to file patents in Australia. The country’s innovation ecosystem empowers them to explore the plant and cell-based alternative proteins that promise to cover surging protein demand.
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Market capital $US 2.6 billion July 2021
Richard Norton,
Sowing the Seeds of
Industry Growth
agritech researcher at Macquarie University in Sydney
Bahare Mohamadzade,
Smart farming technology is a tremendous area of interest at Australia’s universities, which provide researchers in different fields ample opportunity to collaborate.
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The nexus of great agriculture and great agricultural research means Australia is incredibly well placed for agritech and innovation.
(COMING SOON)
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location
Australia is ideally positioned with preferential access to the dynamic economies of the Asia-Pacific via 15 free trade agreements. With ready global supply chains, Australia’s an ideal base to build a sustainable export business.
AgriFutures Australia Managing Director, John Harvey said it’s not surprising Australia’s agrifood ecosystem is sought after by investors. “We’ve got great farmers; we’ve got great researchers and we’ve got this amazing environment and a diversity [of] production systems in Australia. We can thoroughly test technology, regardless of where it [has been] developed around the world.”
Nolet agrees: “The nexus of great agriculture and great agricultural research means Australia is incredibly well placed for agritech and innovation.”
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A Hub for
Agrifood Innovation
Sarah Nolet,
Co-Founder of
Agthentic Group
A Hub for
Agrifood Innovation
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industry valuation in 2020-21
billion
A$
2,
0
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in the agrifood sector
companies
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for filing alternative
protein patents
globally
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Australia accelerates
your business.
Australia is ideally positioned within growing global markets and is well connected with 15 free trade agreements. With ready global supply chains, Australia’s an ideal base to build a sustainable export business.
AgriFutures Australia Managing Director, John Harvey said it’s not surprising Australia’s agrifood ecosystem is sought after by investors. “We’ve got great farmers; we’ve got great researchers and we’ve got this amazing environment and a diversity [of] production systems in Australia. We can thoroughly test technology, regardless of where it [has been] developed around the world. We could be a testbed for all these innovations and, if we are, then our farmers will be the first in the world to get access.”
“There’s a number of things coming together which, I think, could position us [Australia] as the agrifood tech hub of the Southern Hemisphere – which is where we need to be.”
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