Agritech innovation takes another step forward
New Zealand's innovative approach to its agritech industry has taken another step forward.
The New Zealand Government, through the Ministry of Business, Innovation and Employment (MBIE), has released a refreshed Agritech Industry Transformation Plan.
The plan provides an updated vision of 'a globally-recognised agritech sector creating solutions for a better world', and aims to accelerate the growth of New Zealand's agritech sector to reach $8 billion by 2030.
The original Agritech Industry Transformation Plan was launched in July 2020 and was developed in collaboration with an all-of-government agritech taskforce and AgriTech New Zealand, as well as the broader agritech ecosystem.
The refreshed plan takes stock of progress over the past two years. It is now open for public consultation - you can provide feedback on the refreshed Plan by 14 April by emailing industrytransformationplans@mbie.govt.nz.
You can find more details about the refreshed Agritech Industry Transformation Plan here.
Achievements since the launch of the initial Plan in 2020 include:
New Zealand is hosting international trials under Farm 2050, which is a global research initiative to pilot on-farm nutrient technologies. These trials started in early 2022, with a number of New Zealand and international firms involved.
The launch of the Specialised Agritech Venture Capital Fund, a $40 million joint between New Zealand Capital Growth Partners and Finistere fund to help address investment gaps across the agritech sector.
Showcasing early-stage New Zealand agritech firms to international growers, which has led to strong interest. One New Zealand firm, Hectre, has been picked up for a trial of its orchard management software by the large Chilean grower Copefrut.
NZTE has partnered with global leaders in agritech innovation to deliver accelerator programmes for growing NZ businesses. These have included AgTech Garage in Latin America, and Hatch Innovation with an aquaculture focus.
NZTE and Callaghan Innovation have been improving the agritech sector's international outlook and connections. This includes hosting webinars with international multinational corporations, government agencies, and accelerators; as well as creating and promoting the NZ Agritech Story Powered by Place and using it to launch a campaign in the UK.
You can also attend an Agritech Connect event in one of New Zealand's cities. Details here.
