The world is an oyster

That figure, predicted by the National Farmers' Federation, almost doubles the value of the sector by 2030. The opportunity is there. Global food demand is forecast to increase 60 per cent by 2060, and the growing middle class of China and India will consume both a greater amount and greater variety of food. Australia has an established brand and strong trade relationships with the emerging market. We have an extremely valuable opportunity here to develop technologies that make a real difference to the economy's bottom line, while also helping rural Australia realise the economic benefits of the digital technology revolution.

We can't simply double our farmland. We already use just over half our landmass for agriculture, and much of the rest is inhospitable and barren. In fact, 85 per cent of the growth of the sector would have to come from increased yields and cropping intensity. That kind of increase in production is simply impossible without technology.

Therefore, each oyster saved is an oyster earned. Or, perhaps, exported.

We have diverse climates and world-class research. Solutions and products developed here will not only directly help Australian farmers, they can also be exported to the world at scale. The global market for agricultural technology is projected to be US$189 billion between 2013 and 2022. It isn't just an opportunity for agriculture, the tech sector also has a lot to gain in this space.

Looking at a sector with $100 billion potential. iStock

Getting hands dirty

To get there, startups will have to get their hands dirty - literally. AgTech solutions are dispersed, exposed to the harsh Australian elements, jostled and trampled by cattle. It is our rural and regional communities where the impact of these technologies are most felt. AgTech is perhaps the most tangible example of how technological innovation and entrepreneurship has an impact right across the diversity of Australian experience, not just the laneways of inner cities.


Still, while the potential is high, there are obstacles we will need to overcome. Powering Growth conducts roundtable discussions with over 60 stakeholders across government, industry, startups and investment, and compares the Australian AgTech space with seven other global players. It identifies three key areas in which we are lacking - capital, connectivity and direction - and provides the practical steps needed to address those challenges.

AgTech provides a window into the transformative effect digital technology can have on traditional industry. Agriculture has at its heart a powerful connection to the physical world. It is by its nature remote, and by its nature subject to the elements. If there is any industry that could be considered hostile for tech startups, agriculture must surely be it. Yet critical to its prosperity in the coming decades is technological innovation - cloud analytics, AI, drones, big data and autonomous vehicles.

Australia's tech sector has a powerful role to play in development of Australia's economy at large. Powering Growth describes the first step of an exciting journey.

The world is Australia's agtech oyster, says StartupAUS CEO Alex McCauley. Daniel Munoz

Alex McCauley is the CEO of StartupAUS.