AgTech gets a boost in Victoria

The Victorian government is providing a new wave of funding for agriculture tech startup companies.

State Minister for Agriculture, Ros Spence, unveiled an additional $1 million in funding under the AgTech Grants program, which will provide up to $50,000 for eligible startups.

The program is delivered in partnership with LaunchVic, the state’s startup agency, which is also providing these companies with mentoring from other startup experts.

The program began in 2023, has since awarded funding to 19 startups, ranging from farming automation companies, soil sensing intelligence programs, pollination management systems through supply chain efficiency services companies.

One of the winners of this previous tranche of funding was Drone-Hand, an AI-driven, automated flight app for livestock monitoring.

Ros Spence said this program will help build Victoria’s agricultural capabilities and strength the state’s reputation as the country’s largest agricultural produce.

“We’ve seen some inspiring AgTech startups come through the program addressing everything from weather, crop productivity, and supply chain,” Spence says.

“AgTech startups are driving innovation and adaptation in our agriculture sector, and we are providing crucial support in their early critical stages.”

LaunchVic CEO Kate Cornick adds that this funding will continue to drive the sector’s entrepreneurial culture.

“Victoria’s AgTech sector is experiencing phenomenal growth – since 2020, the number of idea-to-early-stage AgTech startups has more than doubled, and more than half of new companies have been supported by a LaunchVic and Agriculture Victoria-funded initiative.”

“We’re excited to continue our partnership to keep up this momentum and see more innovative ideas coming through.”

The state government says application are open until 30 June, 2025, or when funding runs out.