- The Crisafulli Government delivers on key election commitment, with launch of $30 million Sowing the Seeds of Farming Innovation Fund.
- Queensland's first agricultural innovation fund to supercharge development of technology and innovation for agriculture across the State.
- Fund will support innovative businesses who develop cutting edge technology for primary industries, aimed at driving on-farm productivity.
- The Crisafulli Government is delivering a plan for Queensland's future and helping boost the State's agriculture industry to $30 billion by 2030.
The Crisafulli Government has delivered on a key election commitment with the launch of a $30 million fund to supercharge the development of on-farm technology and innovation across the State's agriculture industry.
The Sowing the Seeds of Farming Innovation Fund will support Queensland agri-innovators to become leaders in their field through cutting edge research and technology.
It's just one of the ways the Crisafulli Government is delivering a plan for Queensland's future, with the fund established to leverage Queensland Investment Corporation's commercial investment expertise to back innovative businesses that deliver real benefits in on-farm productivity, profitability and sustainability.
It will support commercially viable innovation that improves productivity, resilience and profitability across Queensland's primary industries, while helping to attract additional private investment.
The Crisafulli Government set an ambitious target to increase the value of primary production to $30 billion by 2030. The Sowing the Seeds of Farming Innovation Fund will help Queensland producers reach this bold goal by getting game changing technology from concept to on farm application sooner.
During Labor's decade of decline, Queensland's primary industries sector received insufficient support and opportunities for prosperity were left to wither on the vine.
Under Labor, Queensland's primary industries suffered regulatory changes with no consultation, were given no vision but instead a significant reduction in capability, evidenced by a 20% cut in animal welfare and biosecurity officers.
Minister for Primary Industries Tony Perrett said innovation was critical to the success of Queensland's primary industries.
"Sowing the Seeds of Farming Innovation Fund is a game changer for the future of farming because it will deliver the next generation of AgTech to boost on-farm productivity and profitability," Minister Perrett said.
"We've heard loud and clear from industry there's no shortage of innovation in Queensland, but what's needed is stronger commercialisation pathways, and greater investment in practical technologies and this election commitment delivers that.
"The Crisafulli Government set an ambitious target to increase the value of primary production to $30 billion by 2030, and this fund will help Queensland producers reach this bold goal by getting game changing technology from concept to on farm application sooner."
Treasurer David Janetzki said the fund reflected the Crisafulli Government's commitment to doing business differently and investing in promising commercial opportunities.
"These targeted investments will not only strengthen Queensland's primary industry value chains but also position our State's long-term success including global recognition for its practical innovation," Treasurer Janetzki said.
Minister for Finance, Trade, Employment and Training Ros Bates said the Crisafulli Government's focus was on creating the conditions for innovative ideas to grow.
"The Crisafulli Government is delivering the investment our farmers and producers need to stay at the cutting edge, boost production and exports, and continue the vital work they do for Queenslanders," Minister Bates said.
The National Farmers' Federation and Queensland Farmers' Federation have welcomed the creation of the fund.
"Behind every apple we eat, every sandwich we make and every coffee we drink, farmers have embraced technology and research to produce tastier food, better fibre, more efficient practices, safer workplaces, and more sustainable farms," said NFF President Hamish McIntyre.
"This practical farming focused investment by the Queensland Government will launch Australian agricultural technology to the world and result in home grown fit for purpose tech for Australian farmers.
Queensland Farmers Federation CEO Jo Sheppard said investing in ag tech was essential for keeping Queensland's producers competitive, productive and profitable in a rapidly changing global market.
"It's critical that we move practical innovations out of the lab and into the paddock, where they can deliver real productivity gains for Queensland producers. By accelerating on‑farm innovation, we strengthen regional economies, support sustainable growth and secure the future of Queensland's agricultural industry," Ms Sheppard said.
Businesses interested in exploring how the fund can support its growth can provide information via the QIC website for review: https://www.qic.com/Sowing-the-Seeds
