THE AUSTRALIAN ag-tech sector could get a boost in terms of access to capital with more mainstream investors looking at opportunities within agriculture.
Justin Webb, founder of livestock management platform AgriWebb, said the broader investment community was looking at agriculture harder than ever in the wake of COVID-19 and discussions about food security.
"We've been in discussions with firms in Silicon Valley who are really keen to invest in agriculture, the interest is there," Mr Webb said.
He said Australian ag-tech businesses such as AgriWebb, blockchain solutions business AgriDigital and cropping software provider Agworld had enjoyed success internationally and that it was now a standard to which the sector could aspire.
"There are real life examples of Aussie start-ups making good and that is great as it means the wider investment community is starting to see the attraction."
Mr Webb said his business had started off with investors familiar to the Aussie ag sector, such as Inghams, before picking up more institutional and international backers, such as UK investment firm the Grosvenor Group.
"I think that is a bit of a picture of the evolution of ag-tech here in Australia, we are in the crosshairs of global enterprise and it is an exciting time to be involved."
He said agriculture was also starting to attract a workforce from outside the industry.
"There are great opportunities there and we are seeing some top quality people coming across from other fields, recognising that potential."
Australian governments are also recognising the sector's potential.
The Queensland government this week announced a $12 million funding package for the state's ag sector, with a strong focus on ag-tech.
Within the funding, $5.5 million was allocated for digital technology within agriculture to increase efficiency and quality assurance in the industry while there was also $5 million to support producers accessing e-commerce platforms to sell goods overseas.