Support for AgTech startups

As part of the AgRIN initiative, the Victorian Government has partnered with LaunchVic, the state’s startup agency, to deliver the following funding for AgTech startups.

AgTech Grants Program

Grants of up to $50,000 are available to emerging AgTech entrepreneurs looking to take their ideas to the next level. $45,000 will may be provided as an equity-free grant, with the remaining $5,000 funding mentoring and business development advice from some of Victoria’s best startup advisors.

For more information visit LaunchVic Grants

Hugh Victor McKay Fund

A new sidecar fund, the Hugh Victor McKay Fund, is now open for applications and will invest up to $200,000 into at least five early-stage startups in the next 12 months.

The fund is co-investing with private sector investors, who will match the Government’s contribution by a minimum of 2:1.

The fund is named after pioneering Victorian inventor Hugh Victor McKay, who patented the original combine harvester in the 1880s – widely credited as one of the most important agricultural innovations in recent history.

For more information visit the Hugh Victor McKay Fund

Accelerator programs (The Victorian AgTech Entrepreneurs’ Initiative)

Agriculture Victoria, in partnership with LaunchVic, provides support for eligible organisations to deliver pre-accelerator programs for AgTech early-stage startups.

These programs are playing a pivotal role in growing the AgTech sector in Victoria, enabling new founders to access the best possible support, advice and networks to build new businesses that will help shape our future economy and grow jobs.

For more information about the current pre-accelerator program on offer, please see the Farmers2Founders website (hyperlinked), or find more information at LaunchVic.

Agriculture Victoria has also partnered with Invest Victoria to bring SVG Ventures to Victoria and establish an Asia Pacific AgTech accelerator program. SVG is a Silicon Valley based agrifood innovation and investment platform.