Recognised as the largest agrifood pathway in Australia, Farmers2Founders is looking to provide a significant boost to Queensland’s agriculture sector with the launch of its first state-based accelerator programs, in partnership with the Queensland Venture Capital Development Fund (VCDF), managed by Queensland Investment Corporation (QIC).
The VCDF funding will enable Farmers2Founders to deliver its flagship pre-accelerator program for early-stage founders and established agtech start-ups, as well as its accelerator program designed for Pre-seed or Series A Australian agtech businesses with high potential for scalability and global expansion, with a focus on product development, customer engagement, business and team modelling, and investment readiness.
“As the sole agtech accelerator provider involved in the VCDF project, we are thrilled to shine a spotlight on the remarkable Queensland agtech sector,” Duncan Ferguson, Head of Venture Growth and Investment at Farmers2Founders, said. “Our presence in Queensland extends beyond our operational support; we are deeply ingrained in the local agriculture and food technology community. This funding ensures that we can continue to drive meaningful impact and sustainable growth in the Queensland agriculture industry.”
As part of the project, Farmers2Founders will roll out a Queensland pre-accelerator program and accelerator program each year in 2024 and 2025. Each program will include a cohort of 10 participants, equating to a total of 40 participants at the end of the two-year project. The 2024 pre-accelerator is set to commence in June, and the accelerator in July.
The VCDF will be further bolstered by the participation of five leading venture capital firms that have also received funding to inject and invest in participants from the selected accelerator programs. This will allow for Farmers2Founders participants to not only gain greater access to investment opportunities but also the freedom to choose the most suitable partnerships for their ventures.
Farmers2Founders has also created its pathway to specifically support the needs of agtech businesses and the agriculture sector in general to produce safe, high-quality food in production systems that are climate-smart, transparent and sustainable, as well as the need to be more inclusive by upporting and championing female founders in the sector.
“The start-up journey in the agtech sector is a unique niche. As industry experts, we see the adoption of technology presenting significant opportunities for Australian agriculture,” Ferguson said. “We understand that a producer-centric approach is essential for driving innovation and sustainability in agriculture and food. That’s why we put producers at the core of our efforts.
“The VCDF program is funding the delivery of our pre-accelerators and accelerators, and local founders have the opportunity to participate if it’s the right fit,” he added. “But our services and support goes beyond this as we don’t fit founders into our model; we adapt to fuel their success. This means the individual needs of each agtech drives our approach, our pathway supports their journey, at whatever stage they are at, with customised solutions.”
With over five years of operation, Farmers2Founders has supported 250+ start-ups and scale-ups across the country. It has further bolstered its support to Queensland’s regional communities and agtech innovators with its sponsorship of the GrainGrowers Innovation Generation 2024 event which culminates at evokeAG in Brisbane in February 2025.
