The Andrews Labor Government is backing the AgTech sector, with entrepreneurs and investors across the state set to benefit from $1.3 million in new grants – fostering the next generation of innovation.
Today Minister for Agriculture Gayle Tierney announced the grants, which are a partnership between Agriculture Victoria and the state’s startup agency LaunchVic, with a $1 million AgTech Grants Program. Grants of $50,000 will be offered to 20 emerging AgTech startups moving to the next stage of growth.
An additional $300,000 AgTech Angel Network Grantwill support the establishment of Victoria’s first dedicated specified agriculture Angel Network to invest in Victorian AgTech startups. The funding will also help ensure our best early-stage AgTech founders get immediate access to capital while also building AgTech startup investment capabilities in the private sector.
The grants are part of the Victorian Labor Government’s $15 million AgTech Regional Innovation Network (AgRIN), funded through the 10-year Agriculture Strategy to support the growth of a vibrant Victorian AgTech ecosystem. These networks have helped support projects like that founded by brothers Paul and James Diamond, two cattle and sheep farmers who have developed a satellite mapping and farm safety app called AirAgri, helping farmers to maintain their properties and better monitor farm activities.
Read more at miragenews.com