Funded by Victoria's startup agency LaunchVic, three Victorian agtech accelerator programs will each receive $600,000 to run additional pre-accelerator programs
It's hoped the programs will equip aspiring entrepreneurs, who have innovative ideas, to improve the ag industry with the skills to turn them into reality.
Farmers2Founders, Rocket Seeder and SproutX are being funded by LaunchVic and Agriculture Victoria.
They'll each receive $600,000 to run pre-accelerator programs, which equip aspiring entrepreneurs with the skills to turn an idea into a business.
Farmers2Founders, a specialist agrifood tech service provider, will run their Hatch Ideas Pre-Accelerator and a self-paced Online Journey Starter Program that can reach founders in any pocket of regional Victoria.
Impact-focused provider Rocket Seeder will assemble teams of entrepreneurs and researchers to solve some of regional Victoria's biggest challenges with their new AgTech Seeds Pre-Accelerator Program, bridging the gap between the agricultural industry and research.
SproutX will join forces with The University of Melbourne to take aspiring founders through The Business of Agriculture, a new program designed to support non-traditional participants in Victoria's startup ecosystem, like farmers or regional Victorian high school graduates.
The $600,000 grants are part of the Victorian AgTech Entrepreneurs Initiative- LaunchVic's $2.2 million partnership with Agriculture Victoria.
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LaunchVic chief executive Dr Kate Cornick said the initiative was designed to help scale existing on-farm ideas and draw more innovators to agriculture - one of the state's largest export sectors.
"Victoria is Australia's largest agriculture producer by value, but our research shows the AgTech sector remains small and underdeveloped, with less than 40 AgTech startups active across the state," Dr Cornick said.
"LaunchVic wants to see these numbers change, so we're backing pre-accelerator programs that support people in the agriculture sector with big ideas and early-stage entrepreneurs who want to launch and grow startups.
"Not only does this increase the number of startups in our state, it can provide a new source of income for farmers and create new technology that improves productivity and sustainability in one of our most important industries."
Growave founder Liam Hescock took part in the SproutX accelerator program.
"Easily the most beneficial takeaway for Growave during the SproutX Accelerator Program is the AgTech community we were able to tap into," Mr Hescock said.
"Not only did we meet, and hired, our chief executive through SproutX, but we also established a genuine and lasting relationship with the cohort, alumni, and SproutX mentors.
"To any entrepreneur looking to break into the AgTech scene, we would strongly recommend SproutX's Pre-Accelerator Program in brokering opportunities and guiding you through your journey."
