By Joshua Becker
Drone mapping, trading apps and 'Uber for abattoirs' are just some of the ideas that could lead the next big digital innovation in agriculture.
This year
the Westpac Innovation Fund is looking to support ideas that combine digital innovation with agribusiness
Collette Grgic, Head of Corporate Innovation with start-up incubator Blue Chili, said the competition is open to ideas from across the whole supply chain.
"The only criteria is that you have to have some sort of digital innovation that is applicable to agriculture," she said.
"It could be somebody that's working on a drone start up that's trying map herd movement... or it could be someone whose working on an app for connecting buyers and sellers of livestock.
"Generally if anyone ever had a problem and thought there should be an app for that, that's what we're looking for"
Ms Grgic said there is an opportunity for the 'Uberfication' of agriculture, "Uber for abattoirs" she laughed, referencing the alternative taxi service that has had huge global success in recent years.
"It is really quite broad, agribusiness in Australia is huge, it covers everything from consumers trying different wines and buying direct from wineries, or even including better supply chain management in wheat supply."
Ms Grgic said the initial challenge for start-ups is working out whether the business has a market without losing too much money in the process.
"The biggest challenge is not knowing whether you are on the right track, that's where mentorship comes in really handy," Ms Grgic said.
"The other thing is learning how to validate your idea and doing that quickly for as little money as possible.
"So the lean start-up methodology is all about taking you through and systematically removing every part of risk that is in the business and checking and validating every part of the business as you go a long so you have a really strong business.
"Westpac is putting in a $40,000 cash prize that you can use to develop your business and your technology.
"Further alongside that you get a six-month placement in the Blue Chili accelerator program; with that you'll get mentorship advice and connections within the industry, we'll help you go from zero to hero.
"So pretty much take an idea and build it up and launch it into the market, and show there are customers buying from you."
Ms Grgic said agriculture could host the next wave of innovation as money starts to move away from the mining sector in to other industries.
"While it's not huge, I think that what we've seen with support and all the programs and the funding that's available to mining, I think agriculture is the next big wave that we're going to be focusing on," she said.
"You don't even need to have a team or a business that's already going, all you need is to understand a problem really well and see a creative solution for it"
SOURCE:ABC.NET.AU
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