VIC AgTech Grant Program

Program Overview:

The VIC AgTech Grant Program helps early-stage AgTech startups. LaunchVic delivers this program in partnership with Agriculture Victoria. It provides equity-free, non-dilutive grants. The program allows startups to develop innovative agricultural technologies. These technologies aim to improve on-farm decision-making, productivity, and sustainability. Typical AgTech solutions encompass software, sensors, precision agriculture tools, artificial intelligence, robotics, and advanced materials applied to agriculture. The grant supports working capital and access to business development services. This allows startups to progress from idea to market-ready products quickly.

Since 2023, the program has supported startups working on farming automation, soil sensing, supply chain efficiency, and AI-driven livestock monitoring. This ongoing investment strengthens Victoria’s AgTech ecosystem. It also supports the agricultural sector’s adaptation to emerging challenges.

Key Requirements and Assessment Criteria:

Applicants must address these key areas:

• • Business Overview: Describe the AgTech problem your startup solves.

• • Explain how your solution is novel.

• • Outline your development stage, including product status, customers, and trials.

• • Detail previous funding received.

• • Include a standard investor pitch deck with goals for the next 12 months and potential roadblocks.

• • Capability of Execution: Identify key team members and founders’ relevant experience.

• • Outline educational and professional development activities, including accelerator participation.

• • Ongoing Commitment: Detail founders’ contributions to date, including both time and financial commitments.

• • Specify time commitment during the six-month grant period.

• • Early Traction and Business Potential: Provide revenue, customer numbers, and product trial information.

• • Upload letters of support from customers, if available.

• • Financials: Explain how grant funds will be used and the expected outcomes.

• • Provide a project budget, including income and expenditure.

• • Cash or in-kind contributions are encouraged and viewed favourably.

Eligible Expenditure:

• Operating costs supporting business and product development.
• Access to company development services and mentoring.

Ineligible Activities:

The startup must not be involved with:

• Tobacco or tobacco-related products.
• Cluster munitions or controversial weapons.
• Thermal coal.
• Gambling.
• Logging of old-growth forests.
• Uranium.
• Unregulated animal testing.
• Live cattle or sheep exports.
• Fracking.

Eligibility Criteria:

Your business must:

• Be a registered business with an Australian Business Number (ABN).
• Be registered for GST if required.
• Accepted entity types are incorporated companies, corporate trustees, Aboriginal and Torres Strait Islander corporations, partnerships, and sole traders.
• It should be based in Victoria, with at least 50% of its assets and employees in the state.
• The founder must primarily reside in Victoria.
• The startup must be in the Idea-to-Early-Stage phase as defined by LaunchVic.
• Startups with more than $500,000 (ex GST) in prior funding are generally ineligible. An exception may be made if the LaunchVic board approves it.

Application Process:

Applications are competitive. An expert panel assesses them, comprising representatives from LaunchVic and Agriculture Victoria. Shortlisted applicants may be interviewed. Successful applicants enter a legal grant agreement. They also report progress against milestones. Funding is equity-free and non-dilutive. Please visit the official government website to learn more about the grant program.

How can you get help with your application or assess your likelihood of success?

Consider consulting with a professional grant specialist, such as Pattens Group. We offer initial assessments to review your business’s eligibility. We will also evaluate project alignment with grant objectives.