Agtech Businesses Receive Funding Boost

By Hari Yellina
Pic supplied

The federal government is investing $12.2 million in businesses around the country, notably several in the agricultural technology sector. Four agtech companies producing innovative solutions for the broadacre cropping and agricultural industries, as well as companies in the health, mining, and renewables sectors, have received financial support. Opxflo, a Victorian company, has won $860,000 in finance to help it commercialise its seed coating and drying component.

It is anticipated that the robots will be able to do autonomous harvesting on a commercial scale in the future, lowering production costs and increasing the competitiveness of Australian fruit exports. Anderson Horticulture’s micro-propagated avocado plants will assist both domestic and foreign avocado growers. Across the globe, the organisation is aiming to enhance resource efficiency, eliminate disease, and boost access to trees and fruit.

The Duranbah, NSW-based company has been awarded a grant of $403,558.This method can be utilised to develop micro-propagation systems for other tree crops once it is commercialised. Farm Junction Point, a data integration tool developed by Pairtree Intelligence, has been awarded $170,000. The cash will be used to enable the startup, which is based in Orange, NSW, to execute three commercial proofs of concept studies with Syngenta ANZ. To produce decision-support tools for agronomists and farmers, FJB will combine data from the Internet of Things, satellites, apps, and software.

The platform aims to improve crop health and assist in better pesticide selection by storing data in one location. Minister for Industry, Energy, and Emissions Reduction Angus Taylor said the funds will assist local businesses grow, commercialise their goods, and secure further funding to expand into new domestic and international markets. Mr Taylor added, “We are happy to assist Australian companies in taking their creative technology and products to the next level through the commercialisation process.” These new projects are all excellent examples of Australian ingenuity, many of which are focused on high-skilled manufacturing needs, and all of which have the potential to improve our quality of life, generate new employment, and aid our economic recovery.

In the most recent round at the Australian government’s entrepreneurs’ programme, twenty-two projects were awarded accelerated commercialization funding.

Follow The Indian Sun on Twitter | InstagramFacebook


Spread the love and Earn Tokens