AgriFutures™ Emerging Industries Program invests in research, development and extension (RD&E) to accelerate the establishment of emerging rural industries. The RD&E expenditure for the AgriFutures™ Emerging Industries Program is primarily funded by an annual Australian Government appropriation.
AgriFutures™ Emerging Industries Program is dedicated to identifying and supporting the development of new and emerging rural industries that can meet changing demand and make a valuable economic, social and environmental contribution to Australia. We’ve set an ambitious goal of identifying and supporting the emergence of agricultural industries that can reach or exceed a $10M per annum threshold in the next five years.
The AgriFutures™ Emerging Industries Program categories emerging industries according their maturity stage which is measured by gross value of production (GVP). It is essential that applicants of this Open Call estimate the current GVP for the industry in addition to an outline of how the industry can achieve a $10 million GVP target within five years. Investment opportunities being offered to assist growth in GVP are characterised by the following attributes:
1. Building Early Stage Clusters (actual industry GVP up to $2 million per annum)
Early stage support to conduct viability assessments, identify areas for potential RD&E, and portfolio building or market development activities that will help guide industry formation, growth or scaling.
2. Building Industry Capability (actual industry GVP $2 million and up to $10 million per annum)
Funding of collaborative RD&E projects to resolve key technical challenges and development of RD&E programs to accelerate growth.
3. Expanding Industry Potential – (actual industry GVP $10 million per annum)
Projects to ensure continuity of the newly emerged industry to sustain growth and development.
Please refer to Table 1: Investment Criteria for further details
Table 1: Investment Criteria