New opportunities to foster Australia and UK agritech relationship
The Australian agriculture industry is expected to reach $100 billion in production by 2030, according to recent research, making it an ideal expansion market for UK businesses. Through the new Free Trade Agreement* — and two targeted programs, the Global Business Innovation Programme and the Global Incubator Programme — Great Britain is placing a big bet on Australia and a delegation headed to evokeAG. 2023 to connect with potential Australian investors, partners and customers.
The adoption of technology presents a significant opportunity for Australian agriculture to improve profitability, with digital technologies alone, predicted to increase the gross value of agricultural production by 25%, to over $20 billion, also by 2030, according to research by the Australian Farm Institute.
Making the most of this opportunity, Innovate UK EDGE has partnered with Founders2Farmers and GROW Impact Accelerator Singapore, to launch Innovate UK’s first Global Incubator Program (GIP) — focused on agritech companies looking to enter the Australian market. Alongside the GRIP participants the evokeAG. UK delegation included 14 high-growth businesses from the UK Government’s Global Business Innovation Programme (GBIP). It’s a competitive program that helps UK businesses connect, collaborate and scale into Australia’s rapidly growing market.
Now, let’s learn more about the two programs and the companies that headed ‘Down Under’ for evokeAG. 2023.
UK Global Incubator Programme
The “Gateway to Australia” program is for agritech scale-ups. It’s aimed at opening opportunities between the two nations — helping companies confidently expand into Australia.
Eight UK scale-ups were selected, connecting them with the Australian agritech ecosystem and allowing them to engage with customers, industry and research partners, and fellow entrepreneurs.
The company specialises in organic-based, biodegradable soil improvers designed to improve horticulture and cereal crop yields. With this technology, Biomation aims to help farmers to increase their productivity and profitability in the industry.
Biotangents is a Scottish veterinary diagnostics company. It has developed a rapid test for mastitis and Bovine Viral Diarrhea (BVD) in cattle. This technology will help farmers quickly identify and treat infected cattle, improving the health of their herds and reducing costs associated with the disease. The company aims to bring this technology to Australia through the GBIP programme.
The Chichester, West Sussex company offers a livestock management platform, which includes online trading and finance features. Breedr’s platform allows farmers to manage their herds more efficiently, from breeding to sales, helping them to maximise their productivity and profits. The company aims to expand this technology to Australia.
Crover has developed a robotic grain storage monitoring system that helps farmers improve their grain storage efficiency. The system uses advanced sensors and software to monitor grain temperature, humidity, and other factors impacting stored grain quality and safety. The company aims to bring this technology to the Australian market soon.
New Energy Farms
New Energy Farms (NEF) offers artificial seed technology for crops that don’t produce seed. The company’s patented Crop Expansion Encapsulation and Drilling System (CEEDS) reduces the amount of seed material required by 50 times across one hectare of land. CEEDS also applies to other non-seeded crops and regenerative agriculture — with perennial grasses like Miscanthus used for fibre and biofuel. NEF has applied the technology to the sugarcane market, initially in Brazil, and is expanding to other key sugar regions. CEEDS has the potential to be applied to a diverse range of food, protein and ornamental crops globally
SEaB Energy is a leading provider of sustainable energy solutions. The company’s technology allows farmers, businesses, and communities to convert organic waste into clean energy — and fertiliser. The company’s flagship product, the Muckbuster, is a compact and mobile system that can process up to 8 tonnes of organic waste daily. The Muckbuster generates clean energy in the form of biogas, which can be used to produce electricity, heat or fuel. The system also produces nutrient-rich fertiliser, reducing the need for synthetic fertilisers. SEaB Energy’s solution helps to reduce waste, lower carbon emissions, and improve soil health.
Global Business Innovation Programme
This program aims to improve each company’s profitability and help them expand into the Australian market. The 14 high-growth businesses attended evokeAG. 2023 in February 2023.
Offers precision agriculture services to farmers to improve crop yields and reduce costs. AgAnalyst’s mission is to make data science accessible to farmers, independently of the global corporations, which are supplying them with inputs and farm equipment. Only with world class data science will farmers and their advisors be empowered to measure and improve the profitability of their enterprise alongside their public responsibility to manage GHG emissions and improve environmental outcomes.
Ag-drive is an all-in-one cloud-based app for agricultural contractors and farmers to eliminate the paperwork for their businesses.
Agtelligence develops innovative technologies for precision agriculture and crop management.
Dynamic Soils specialises in sustainable soil management solutions for farmers.
Elaniti develops precision agriculture software for crop management and decision-making.
Flex Farming offers precision agriculture services to optimise crop yields and reduce costs.
GyroPlant develops innovative technology for precision agriculture and crop management.
HarvestEye offers precision agriculture services, such as crop monitoring and data analysis.
Innovative Physics develops innovative technologies for precision agriculture and crop management.
Moredun Scientific is committed to promoting livestock health and welfare through research and education and is recognised worldwide for its contribution to research into infectious diseases of farmed livestock, as well as supporting registration of animal health products through contract research services.
Performance Projects offers precision agriculture services, such as crop monitoring and data analysis.
Personalised Diagnostics develops precision agriculture software for crop management and decision-making.
SoilWater specialises in sustainable soil management solutions for farmers.
Yagro offers precision agriculture services such as crop monitoring and data analysis.
Zelp develops precision agriculture software for crop management and decision-making.
Connect with Innovate UK and the delegation
Innovate UK are an evokeAG. 2023 Partner. For more information on the programs and companies, please reach out to Lara Krasnostein, Head of UK Science & Innovation Network Australia at the British High Commission to register at [email protected]. Or directly to the UK Delegation via their website or LinkedIN.
* About the Free Trade Agreement
The UK Government has made a significant commitment to working with the agricultural ecosystem in Australia through the creation and support of local teams. The recent Free Trade Agreement (FTA) between the two countries further strengthens the UK’s relationship with Australia’s agricultural industry. The aim is to promote collaboration and innovation between the UK and Australia and to help agritech businesses expand into new markets.
The FTA provides better market access for British agricultural exports, with 99% of farm products being tariff-free. It also gives Australian venture capitalists more significant investment opportunities in promising British farming start-ups. The agreement includes three separate measures to protect the agricultural industry: Tariff Rate Quotas, Product Specific Safeguards, and a Bilateral Safeguard Mechanism. The FTA is a stepping stone for the UK’s presence in the Asia-Pacific market, offering greater opportunities for the agricultural sector to tap into the expanding Australian and Asian markets.
The FTA also fosters collaboration and research in agritech through the enhancement of low-emissions technologies and clean growth in agriculture. The Strategic Innovation Dialogue will encourage cooperation and steer the future direction in innovative sectors, including Agritech. The FTA also eliminates the requirement for agricultural companies to store data locally in Australia, reducing the need for costly data localisation and servers.
This commitment will span at least the next three years and will see the continued attendance of UK delegations at evokeAG. over this period.