Agtech Grants Program VIC

Grant Description

The LaunchVic AgTech Grants Program aims to boost the quantity and quality of early-stage AgTech startups in Victoria by providing financial assistance and professional mentoring. The program is designed to help startups rapidly scale and prepare for further investment. This initiative is part of a broader partnership with Agriculture Victoria to support the agricultural technology sector in the region.

What It Funds

The grant provides startups with $50,000 to cover business development costs such as new salaries, marketing, and product development. It supports the engagement with professional startup mentors and aims to expedite growth and capability building. The grant facilitates access to valuable networks and business advisory services that propel early-stage startups towards investment readiness.

Eligibility Criteria

Must be an AgTech startup as defined by LaunchVic. Registered business with an Australian Business Number (ABN). At least 50% of assets and employees located in Victoria. Must not have raised more than $500,000 in funding unless approved by LaunchVic. Must not be involved in prohibited activities such as tobacco, gambling, or fracking.