Accurate and consistent Gross Value Production (GVP) measurement for EI

Summary

As part of the AgriFutures Strategic R & D Plan 20172022, one of the corporate objectives for the arena of emerging industries is to identify new rural industries with the potential to grow to at least $10 million in revenue. A solid base line is paramount for accurate and consistent measurement of growth and success. This is the starting point for any relevant key performance indicator. The existing AgriFutures measurement approach to obtain current industry value by selfstatement from the applicants of funding is an inconsistent and highly qualitative way of obtaining a quantitative benchmark number. Due to the qualitative nature, nonstandardised method and highly subjective approach, there is strong bias favourable towards the limited selfstatement providers. Additionally, this current approach does not allow for direct comparison across emerging industry types, nor does it allow for an observable and repeatable trend analysis. Emerging industries have not reached the threshold of interest for the ABS to include them as a focus for inclusion in the standard ABS Agricultural Census and Surveying programs. That is why establishing standard best practices for emerging industries is very important so that when the threshold of interest is reached the full picture of the industries can be viewed and analysed by its relevant segments in a comparable way. By setting up a standardised approach which is as closely aligned to the ABS approach at this initial stage will benefit AgriFutures with an ongoing method with resulting GVP values that are of a comparable nature with all other ABS threshold commodities. Investment in a standard now will reap the benefit of repeatable and observable measures.

Program

New and Emerging Industries

Research Organisation

Kynetec Australia Pty Ltd

Objective Summary

In order to complete this the project will undertake a combination of desktop research, metaanalysis of relevant publications and structured personal interviews with single respondents with representatives of the specific industry and key opinion leaders. Interviews will be conducted using a set discussion guide with both prompted and unprompted questions which will facilitate not only the standard collection of the key indicators but also the flushing out of the respondents view through open ended questioning. All methods of collection as well as results obtained will run through a regular 360˚ feedback session with AgriFutures in order to ensure incorporation of existing data and knowledge already collected by AgriFutures, and to allow for full transparency of the entire process. Currently supported emerging industries will be used as a pilot project for the development of the GVP model. The three main objectives when running this pilot project are to: o Calculate current GVP o Run the model on historical data collected to backcast historical GVP o Collect contact details for the benefit of enhancing AgriFutures communications platform

Project Code

PRJ-012723

Project Stage

Current

Project Start Date

Wednesday, June 17, 2020

Project Completion Date

Friday, May 28, 2021

Journal Articles From Project

Not Available

National Priority

Frontier technologies for building and transforming Australian industries

National Priority

Adoption of R&D

National Priority

NEI - New and Emerging Industries - SM1

Contact