Unlocking the potential of Australia’s emerging AgTech sector

The Liberal-National Government has today launched a new initiative to help attract more investment in Australia's emerging agrifood tech sector.

Minister for Trade, Tourism and Investment Simon Birmingham who will make the announcement today at evokeAG in Melbourne said a new digital platform known as 'Agriculture 4.0' would help better connect Australian AgTech and foodtech businesses with overseas investors and innovators.

"Australia has the potential to be a powerhouse in agrifood tech and we want to help the sector reach its full potential," Minister Birmingham said.

"Our farmers are some of the most innovative in the world but we're behind the pack when it comes to commercialising our food and farming technologies.

"We're leading the way in areas such as Ag biotechnology, novel farming systems, traceability tech and farming robotics, but the challenge is further developing these technologies into commercially viable products for wider use in Australia and overseas.

"This initiative is about connecting investors with Australian farmers and AgTech start-ups as well as creating more collaborative research and development opportunities.

"While exports of food and agricultural products will always be an essential ingredient in Australia's economy we should also seize the opportunity to export more of our world leading AgTech knowledge and skills.

"By driving more investment in this emerging sector we can create more export opportunities for Australian businesses and ultimately more Australian jobs."

Minister for Agriculture and Water Resources David Littleproud said the need for Australia to take agrifood tech innovation to the next level was greater than ever.

"Australia has the foundations to be a world leader in agrifood technology but we do need entrepreneurs and investors to give us a helping hand," Minister Littleproud said

"With Australia's agricultural sector set to be worth $100 billion by 2030, we need to make sure it is fit for the future.

"Australian famers need to be as well placed as they can to capaitalise on the growing demand from emerging markets in Asia.

"That's why we need to showcase the best of our talent to the world and attract more investment to Australia's agricultural sector."

EvokeAG is a new agrifood international technology event hosted by AgriFutures Australia and aims to bring together recognised leaders, farmers, innovators and investors, from Australia and overseas, to share and explore new directions for the next generation of food and farming.

Austrade's Australia for 'Agriculture 4.0' initiative will feature case studies and insights from Australian agtech and foodtech innovators and can be found at: www.austrade.gov.au/agriculture40.

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