Australia’s first drought resilience startup incubator will run this year, housing eight agtechs and providing assistance to nearly 100 others. With almost $11 million in federal funding, the incubator will focus on commercialising cutting edge solutions like soil moisture retention and microclimate detection.
The incubator, dubbed Drought Venture Studio, will cast a wide net over two years, also considering indirect drought resilience options like generating new revenue streams for farmers, repurposing waste and innovative types of insurance.
Innovation advisory firm Beanstalk Agtech will run the venture through its advisors stationed at the eight drought innovation hubs around the country and its core team in capital cities.
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