June 25, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Launched three years ago, AgriFutures grow^AG  is an initiative of the Australian government through the AgriFutures Research and Development Corporation. Over the course of its existence, it has connected the global agrifood network of researchers, investors, universities, government agencies, companies and corporates, facilities, and more by making introductions for international cooperation and collaboration with the aim of improving or disrupting the global food and agriculture industry.

In March of this year, Bayer Crop Science extended its partnership with AgriFutures grow^AG to better reach innovators, startups, and researchers with its innovation challenges. 

At the time, Phil Taylor, director of open innovation & outreach, Bayer US – crop science, noted how the platform has been a valuable tool for sourcing new innovation for the largest agricultural research and development organization in the world. 

Mellish added, “Bayer has been really active on the platform, with 19 listings to attract participants for their Open Innovation challenges and grant programs,” she said. “We’re thrilled to partner with Bayer into 2024 and continue to help connect them with the global ecosystem.”

Today, the platform continues to grow rapidly, announcing that it has facilitated more than A$150 million in global startup investment with A$82 million closed to-date, and A$70 million in startups currently seeking funding from global investors active on the platform.

With more than 9,000 users per month from more than 190 countries, Mellish noted how the tailwinds for the sector were driving growth for both users and visitors, including Bayer. 

“There’s no doubt that our sector is of enormous interest globally,” she said. “Not just from a food security perspective, but also from a climate perspective – agriculture contributes 18 percent of global emissions and while it’s imperative to get that number down, we also have to feed everyone, and technology is going to be the key that unlocks productivity to be able to do that.”

Driven by such success, AgriFutures grow^AG has been active on the ground in the U.S, the Netherlands, the UK and has now announced its expansion into New Zealand, which will create bridges for local industries by connecting the New Zealand ecosystem with opportunities in Australia and around the world through R&D, trials, investments, and commercialization partnerships. 

“New Zealand has world-class innovation happening here in agritech, and AgriFutures grow^AG is an ideal platform to showcase our achievements on the global stage,” said Peter Wren-Hilton, founder and Agritech New Zealand and agritech venture capitalist. 

“Having worked closely with the AgriFutures grow^AG team I’ve seen the international audience they’ve built and the wonderful opportunities they’ve facilitated all around the world – it’s exciting to be able to now offer this to companies, researchers and investors here in New Zealand.”

The platform has already worked with exceptional companies and researchers in New Zealand, and currently has six project that are seeking research partners, suppliers, and investment:

Fleecegrow – A company researching turning wool waste into a plant growing media and alternative to rockwool as well as fertilizer. 

Map & Zap – An early growth stage, AI-driven weed identification and laser-zapping solution that reduces the need for chemical herbicides. 

Nanobubble Agritech – An irrigation tech company that doubles the productive capacity of water. 

ProTag – A next-gen smart tag for livestock that enables deeper individual animal insights through behavior analytics and advanced location monitoring. 

SWAMI – A solution that uses acoustic technology to predict and detect surface water build up to improve irritation management, water efficiency, and environmental outcomes. 

VinEye – A faster, more accurate, and more cost-effective solution to identify Grapevine leafroll disease. 

“It’s a privilege to represent some of the world’s leading innovators on our platform and be recognised as the way to connect and facilitate growth,” commented Mellish. “Food security and supply chain resiliency is a global challenge and I’m very proud that we’re part of securing that future for everyone.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and Agtech Intel News. She can be reached at lkiernan-stone@globalaginvesting.com.

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