New innovation fund supports innovative businesses in developing cutting-edge technology for primary industries
The Queensland government has launched a new A$30mn to boost the development of on-farm technology and innovation across the state’s agriculture industry.
The Sowing the Seeds of Farming Innovation Fund will support Queensland agri-innovators to become leaders in their field through cutting-edge research and technology.
The fund will leverage Queensland Investment Corporation’s commercial investment expertise to back innovative businesses that deliver real benefits in on-farm productivity, profitability and sustainability.
It will support commercially viable innovation that improves productivity, resilience and profitability across Queensland’s primary industries, while helping to attract additional private investment.
The Sowing the Seeds of Farming Innovation Fund is designed to help Queensland producers reach the government’s goal of increasing the value of primary production to A$30bn by 2030, by getting game changing technology from concept to on-farm application sooner.
During Labor’s decade of decline, Queensland’s primary industries sector received insufficient support and opportunities for prosperity were left to wither on the vine.
Under Labor, Queensland’s primary industries suffered regulatory changes with no consultation, were given no vision but instead a significant reduction in capability, evidenced by a 20% cut in animal welfare and biosecurity officers.
Minister for Primary Industries Tony Perrett said innovation was critical to the success of Queensland’s primary industries.
“Sowing the Seeds of Farming Innovation Fund is a game changer for the future of farming because it will deliver the next generation of AgTech to boost on-farm productivity and profitability,” said minister for primary industries Tony Perrett.
“We’ve heard loud and clear from industry there’s no shortage of innovation in Queensland, but what’s needed is stronger commercialisation pathways, and greater investment in practical technologies and this election commitment delivers that.”
The National Farmers’ Federation (NFF) and Queensland Farmers’ Federation welcomed the creation of the fund.
“Behind every apple we eat, every sandwich we make and every coffee we drink, farmers have embraced technology and research to produce tastier food, better fibre, more efficient practices, safer workplaces, and more sustainable farms,” said NFF President Hamish McIntyre.
“This practical farming-focused investment by the Queensland Government will launch Australian agricultural technology to the world and result in home grown fit for purpose tech for Australian farmers.”
Queensland Farmers Federation CEO Jo Sheppard said investing in ag-tech was essential for keeping Queensland’s producers competitive, productive and profitable in a rapidly changing global market.
“It’s critical that we move practical innovations out of the lab and into the paddock, where they can deliver real productivity gains for Queensland producers. By accelerating on‑farm innovation, we strengthen regional economies, support sustainable growth and secure the future of Queensland’s agricultural industry,” Sheppard said.
