Monday, April 22, 2024

Global AgTech investor backs AUS/NZ headquarters

MELBOURNE, AUSTRALIA

A world-leading AgriFood innovation investor has chosen Melbourne to establish its Australian and New Zealand headquarters, fast-tracking development of AgTech jobs and supporting Victorian farmers.

Victorian Minister for Economic Development, Tim Pallas said the SVG THRIVE Australia Venture and Innovation Platform (SVG) will position the state as the prime AgTech hub in the region.

“This is a significant vote of confidence in Victorian AgTech and the payoff will be in jobs now and in the future,” said Minister Pallas.

“It will provide a major boost for the innovators developing new products and processes to transform agriculture in Victoria and around the world.”

He said farmers will have access to more cutting edge technology and Victorian startups would have greater opportunities to take their products and processes to the world.

SVG are set to launch a $50 million THRIVE Australia Venture Fund that will facilitate continued international investment in the AgTech sector and grow the AgTech start-up ecosystem in Victoria and across Australia and New Zealand.

Established in 2010, SVG will bring its successful proprietary platform – comprising the flagship THRIVE Accelerator Program, Corporate Innovation Program, development programs and events – to Victoria.

“We are excited to embark on our ANZ journey from Victoria – a large agricultural market, home to world-leading research organisations and a central location to capture AgTech success,” said SVG CEO and founder, John Hartnett.

SVG has built a community of over 6,000 start-ups from 100 countries and works with entrepreneurs, investors and Fortune 500 corporations to advance the food and agriculture industries through innovation.

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