The Hugh Victor Grant Fund will support AgTech startups

The fund draws from a pool of $1 million that will be divided between successful applicants who will receive up to $200,000, with at least five startups being selected to draw from the pool.

The funding will also be matched two-to-one from private investors, meaning every dollar from government funding will receive two from dollars private investment, with a total of $3 million capital available across the campaign.

Tenacious Ventures Founder Matthew Pryor is among the fund's investment committee which will meet and review applicants on a bi-monthly basis.

Mr Pryor said the fund meant critical support could be invested into the future of on-farm productivity and sustainability and many early stage startups begin with hardware and deep tech.

"These can be essential innovations in agrifood transition, since you can't eat software."

"The early stages of growth can be more capital intensive for these startups, so additional leverage on early capital is very catalytic."

LaunchVic chief executive Dr Kate Cornick was eager for Victorian AgTech startups to take advantage of the financial support offered.

She said aspiring founders could partake in programs to test their ideas, obtain a grant and potentially receive funding when wanting to scale their project.

"Our work with Agriculture Victoria is particularly exciting in the holistic support we're offering founders throughout their growth journeys," Dr Cornick said.

For more information or to apply, click here.