SVG Ventures THRIVE, a major AgriFood innovation investor, is slated to establish its new Australian and New Zealand headquarters in Melbourne, a move expected to accelerate AgTech jobs’ development in Victoria.
Minister for Economic Development Tim Pallas authorised the new presence of the SVG Thrive Australia Venture and Innovation Platform, which will cement Victoria’s position as the prime AGTech hub in the region.
“This is a significant vote of confidence in Victorian AgTech and the payoff will be in jobs now and in the future,” Pallas said. “It will provide a major boost for the innovators developing new products and processes to transform agriculture in Victoria and around the world.”
The project, backed by the state’s government, will provide farmers with access to more cutting-edge technology and Victorian startups with opportunities to scale their operations globally.
SVG will also launch a $50 million THRIVE Australia Venture Fund that will help continue international investment in the AgTech sector and foster growth in the startup ecosystem of Victoria, Australia, and New Zealand.
The innovation investor has built a community of over 6,000 startups from 100 countries and works with entrepreneurs, investors, and Fortune 500 companies to advance the food and agriculture industries through innovation.
“We are excited to embark on our ANZ journey from Victoria – a large agricultural market, home to world-leading research organisations and a central location to capture AgTech success,” said John Hartnett, CEO and founder of SVG.
The Victorian state government recently launched its International Investment Strategy in a bid to attract global organisations from high-impact industries to create the jobs, skills, and advance technology that will drive long-term growth in the Victorian economy.
The government is also backing the local AgTech ecosystem with the AgTech Regional Innovation Network to connect farmers, technology experts, entrepreneurs, research organisations and universities.
