Farmbot Australia Pty Ltd (NSW) has been awarded a grant of $597,650 to broaden the application of its innovative water monitoring technology.
Sydney, NSW – 04/02/2020 – On 16 January 2020, Farmbot Australia, a leading Agtech innovator, was awarded an Accelerating Commercialisation grant by Minister for Industry, Science and Technology, Karen Andrews.
Farmbot is one of nine businesses that will share in more than $4.7 million in Accelerating Commercialisation grants to help bring their products to market. The grant is part of the Coalition’s strategic investment in innovation, as part of our broader plan to create 1.25 million new jobs over the next five years.
“The grants help Australian entrepreneurs, researchers, inventors and start-ups reach their potential sooner, which in turn creates jobs and drives economic growth,” Minister Andrews said.
Farmbot will use this grant to develop further precision agriculture applications to add to their existing water management product offering. The goal of these innovations is to make managing agricultural ecosystems simpler and allow for better forecasting.
“As a business we strive to always remain on the cutting edge of innovation.” said Farmbot Managing Director; Andrew Coppin. “This grant will allow us to expand within the agriculture industry and enable Farmbot to become positioned as an Agtech leader in precision agriculture.”
Farmbot Monitoring Solutions is a leading Australian Agtech company in the Internet of Things (IoT) and precision agriculture. The company monitors and reports on-farm water ecosystems delivering near real-time reporting on water trends, consumption and demand. As water is the lifeblood of all agricultural endeavours, a detailed understanding of its usage helps farmers make better management decisions, around asset utilisation, resource allocations and stock carrying capacities.