Fostering Collaboration

Who would believe the sixth edition of the ‘Celebrating Australian Food and Agribusiness Innovations’ book is live? The catalyst for its creation was the desire to showcase great innovations from across the Australian food and agribusiness sector. We also knew that the book could help raise the profile of businesses, particularly the smaller ones, with limited resources to promote their innovations. We are delighted to say that we have achieved our objectives. With this edition, 300 innovations from big and small businesses have been showcased through the six books. Some 83% of these are from small to medium-sized businesses.

This edition of the book focuses on innovations awarded through our Project Fund. The funding is part of the Commonwealth support provided to the Food and Agribusiness Growth Centre, or FIAL as we are known in the Australian food and agribusiness sector. In total, $16.35 million has been awarded to 116 projects since the fund was launched in 2015. Businesses not only matched the grant value, but they have also provided a further $20 million of capital investment in support of the projects.

Projects have involved businesses of a range of scales spanning the entire food and agribusiness value chain across the country. The types of innovations varied. Of the 116 projects, 6 per cent were new to the world innovations, while 12 per cent were new to Australia, and 21 per cent new to their industry. Projects introducing new innovations to their business were the majority at 61 per cent.

Over $110 million of new initial business has been generated from the commercialisation of new ideas, including savings made from just improving how things are done to enhance business performance. Approximately 70 per cent of businesses gained new customers, while 60 per cent said they increased distribution to existing customers. Around 50 per cent started selling directly to customers, while 30 per cent commenced exporting either for the first time or to a new overseas market. Overall, an additional 550 jobs were created through the 116 projects.

At the heart of each project is a degree of collaboration and developing connectivity involving new participants, whether they be a business, researcher or another supporting organisation. As a result, extra value has been unlocked. During the life of the 116 projects, more than 2100 new connections have been made, meaning approximately 18 new connections per project, with many still ongoing. The types of connections varied: from joining a cluster to contracting new packaging suppliers or engaging a new logistics operator. Of the 116 projects, 28 per cent engaged the services of an external researcher or technology provider for the first time. Without such external support, the solution to the technical challenge would either have stalled or taken considerably longer to find. All 116 projects involved training to build their capability and support project commercialisation. One project was not completed due to changing trading circumstances.

This sixth edition of the book showcases 50 innovations from the total 116 projects supported through the Project Fund. Each story is unique, capturing the journey of a company in addressing a challenge and how it found solutions or learnings to create impact for its business. We hope you connect with these stories as much as we did in establishing and supporting them in their journey to satisfying achievements.

MIRJANA PRICAManaging Director, FIAL