An effort by the Australian authorities to assist the nation’s farmers and different major producers by incentivising funding in expertise is driving progress in tech startups, fostering innovation, and boosting curiosity in new tech abilities.
The federal government not too long ago introduced a second spherical of its On Farm Connectivity Program. This $18 million funding gives rebates of as much as 50%, with a most of $30,000 for eligible gear, aimed toward extending information protection and enhancing the connectivity and reliability of equipment and sensor expertise.
As famous by the federal government, the initiative has supported:
- Soil moisture probes.
- Antennas.
- Liquid stage screens.
- Livestock monitoring programs.
- Climate screens.
- Boosters and repeaters.
- Radio transmitters.
- Cameras.
- Water stream and strain screens.
The initiative is an element of a bigger $1.1 billion funding into rural Australia, below the Higher Connectivity Plan.
Practically 9 in 10 farmers excited by adopting AgTech options
This funding is important because it allocates substantial funding on to Australian companies.
Australia is a frontrunner in AgTech funding, making these authorities initiatives neither area of interest nor narrowly focused. Roy Morgan analysis exhibits that:
- 89% of Australian farmers wish to use AgTech options.
- 72% presently do.
- 6% of farmers trial AgTech options earlier than giving up on the expertise.
Nonetheless, as Roy Morgan’s analysis additionally exhibits, the extent of funding could possibly be even larger. The most important barrier to adopting AgTech options is “high cost,” which these authorities initiatives are actively serving to to handle.
The trade sees the potential for AgTech to transform farmers into clients. One firm significantly concerned within the challenge, Farmbot Australia, has claimed 441 rebates below the scheme, amounting to a complete of $2.4 million.
Farmbot ceaselessly makes use of the scheme in its advertising collateral to farmers.
A frenzy of investments into innovation
On the similar time, the federal government can also be actively supporting startups within the AgTech house with extra grant applications, such because the Business Progress Program.
Below this system, startups and SMEs engaged on progressive options to sectors throughout the authorities’s “priority areas,” which incorporates Agriculture, can entry as much as $5 million in grants to commercialise and develop their operations. This has resulted in a flurry of funding curiosity within the sector. Examples embrace:
- Seed Terminator, which earned a $3.1 million grant earlier this 12 months.
- Quantity 8 Bio, which goals to resolve important points with the agriculture trade’s carbon footprint. The corporate raised $7 million in a funding spherical led by Most important Sequence Ventures, an funding agency backed by the federal government’s CSIRO R&D organisation.
In the meantime, one other Australian AgTech startup tackling the identical problem was in a position to finalise a $17 million second Seed funding spherical after catching the attention of Microsoft founder Invoice Gates.
Demand for AgTech abilities is surging
The well being of the Australian AgTech sector ought to end in optimistic outcomes for all expertise sectors.
For instance, demand for abilities on this sector is encouraging the direct promotion of careers within the sector to regional Australia, the place expertise abilities are typically much less of a precedence.
Agvision Yanco, which happened in September, was the most important regional occasion in NSW designed to advertise careers in agriculture. It additionally launched a whole bunch of scholars to numerous aspects of AgTech in an effort to advertise abilities in STEM fields to regional college students.
This occasion was an initiative of the NSW state authorities, recognizing the necessity for a sustainable AgTech sector to make sure the long-term well being of the trade. The main focus is on creating {hardware} and software program merchandise whereas additionally offering ongoing upkeep.
“Agriculture is an ‘engine room’ industry in NSW,” Tara Moriarty, minister for Regional NSW, stated in a press release. “Farmers across the state produce more than $17 billion worth of food and fibre every year. Agricultural technology, ‘AgTech’, is vital to the ongoing success of the agricultural industry for our state.”
She added: “AgTech is transforming the agriculture industry across the globe, and it’s essential that NSW has the relevant skills to ensure we remain a world leader in the field.”
Like another sector, AgTech depends on conventional IT to offer the inspiration for innovation. Particularly, AgTech has a robust demand for IoT, edge computing, and cloud computing options, as a lot of the expertise is sensor-based and deployed remotely. With that comes the necessity for superior cybersecurity options.
Australia’s thriving AgTech sector presents important alternatives for the broader IT trade, whereas additionally creating new abilities and alternatives for IT professionals in areas the place IT has historically performed a secondary function. In the long term, this demand and alternative will strengthen Australia’s innovation sectors and assist deal with the talents shortages by creating stronger pathways into IT.