Minister for Agriculture Jaala Pulford, will tonight hear from Victoria’s leading young farmers and aspiring entrepreneurs about digital innovation and start-ups at Australia’s only dedicated AgTech Accelerator program, SproutX.
The Andrews Labor Government is continuing to back our primary producers in their application and adoption of new technology and is helping turn ideas into reality. In 2016, agricultural and agribusiness entrepreneurs were given a shot in the arm thanks to a $1 million government investment in SproutX.
SproutX Pty Ltd, the only AgTech Accelerator program in Australia, is a joint venture between the National Farmers Federation and financial services firm Findex.
Last year, over 20 Victorian start-ups entered and completed SproutX’s program. Innovations included long range sensors on cattle for the early detection of disease, drones fitted with artificial intelligence and biotechnology that accurately predicts fertility in horses.
SproutX’s Accelerator programs identifies, nurtures, promotes and helps commercialise the best new ideas in food, fibre and agribusiness by connecting AgTech entrepreneurs with investors to help develop and bring their new ideas to fruition.
Successful applicants get basic business skills, learn start-up principles, have access to key industry mentors, connect with strong support networks and have the opportunity to pitch their individual innovations to potential investors.
The SproutX Accelerator program is accepting applications for its 2017 program, offering $40,000 in capital, top tier mentoring, six months office space and product distribution via its partner Ruralco. Successful applicants are also backed with ongoing venture support by SproutX’s $10 million early stage venture capital fund.
To apply or find out more about SproutX visit – applications close the 8th of May 2017.
Quotes attributable to Minister for Agriculture Jaala Pulford
“Victoria is becoming a global leader in AgTech, thanks to initiatives such as SproutX giving start-ups the skills, connections and funding they need to commercialise their ideas.”
“Victoria’s agricultural entrepreneurs have big dreams. We are making them reality.”
Quotes attributable to SproutX General Manager Sam Trethewey
”Victoria has become the centre of AgTech in not only Australia but the entire Asia-Pacific. With over 40 per cent of the world labour force engaged in agriculture, AgTech is a global opportunity”
Quotes attributable to SproutX Accelerator Director Andrew Lai
“With the support now available via SproutX, there has never been a better time to start an AgTech company.”
Reviewed 19 August 2020