The Australian Government has announced the development of a new initiative aimed at attracting more investment in the country’s agrifood tech sector.
On 19 February, Austrade launched its new digital platform, Australia for Agriculture 4.0, to better connect Australian agtech and foodtech businesses with overseas innovators and investors.
The site showcases Australia’s competitive advantages in agtech and foodtech, helping to establish the country as a global hub for agriculture and food technology. The initiative aims to enable farmers and food producers to commercialise food and farming technology, and establish supply chains into Asian markets where demand for food is expected to increase.
Australia for Agriculture 4.0 builds on Australia’s strong record in agriculture innovation that has seen global leaders in agtech, including Cisco and Bosch, choose Australia as a base to expand their innovation work under the Agriculture 4.0 banner.
“While Australia is already the twelfth largest exporter of agricultural products in the world, the local industry and government recognises there is room to grow. Because of this, Australia offers significant government funding and legislative support for agtech and foodtech research, innovation, investment and commercialisation efforts. We of course would like to see the continued growth of sustainable food and crops globally utilising Australian ag and food technology,” AusTrade Director Global Business Development Cassandra Keener told FoodIngredientsFirst.
A version of this article first appeared in FoodIngredientsFirst.