Ag Tech Investments News

Australia’s leading national agtech innovation hub, SproutX today opened its doors in Mildura in a move that is set to inspire the next generation of entrepreneurs across the Mallee region.

SproutX is a Victorian-based AgTech business accelerator and national collaboration network. The organisation was established in 2016 to fast-track development of innovative ideas and technologies, as well as source venture capital to support commercialisation.

In September 2016, the Andrews Labor Government contributed $1 million to support SproutX – a partnership between the National Farmers’ Federation and Findex.

In partnership with Mildura Regional Development (MRD), SproutX will open a co-working space at The Mill – Mildura’s newly established innovation space – and will mobilise a community to support startups in the agricultural space in the region.

SproutX has had more than 50 people participate in their programs and has worked with more than 200 agtech start-ups. Participants develop business skills, learn start-up principles, have access to industry mentors, establish AgTech networks and gain opportunities to pitch their innovations to potential investors.

Since SproutX’s launch in 2016, the organisation has developed an international reputation and been nominated for a Global Innovation Award at the upcoming World Agri-Tech Innovation Summit in San Francisco.

The Labor Government knows the value and importance of investing in our digital economy, and was the first government in Australia to support the SproutX initiative.

The Connecting Regional Communities program includes a $12 million initiative to conduct an on-farm Internet of Things trial in the areas surrounding Maffra, Tatura, Birchip and Serpentine. This trial is an important step in maximising technology to help provide Victorian agriculture with a competitive advantage on a global scale.

To find out more about SproutX, or apply for its programs, visit www.sproutx.com.au.

Source: https://www.premier.vic.gov.au/