The AIA is focused on identifying, targeting and investing in collaborative strategies where individual investment is unlikely to be effective.
Its remit differs from existing Rural Research and Development Corporations (RDCs) as it spans multiple agricultural industries and acts as a single point of contact for cross-industry strategies, making it easier for investors to partner with Australian agricultural industry stakeholders.
All Australian RDCs, including FWPA, are founding members of AIA, which is committed to taking into consideration stakeholder priorities throughout its operations.
FWPA Acting CEO Chris Lafferty said, “The AIA helps to encourage cross-industry investment that is vital for the Australian agriculture system.”
The aim is to modernise Australia’s agricultural innovation system, with the AIA becoming an integral aspect of the Australian Government’s National Agricultural Innovation Agenda. A government commitment of $1.3 million in seed funding was announced in October 2020, with a further $1.5 million announced in May of this year. These funds are to be used by the AIA to develop investment strategies in the areas of the four new National Agricultural Innovation Priorities: exports, climate resilience, biosecurity and digital agriculture.
Initiatives in the areas of digital agriculture and accounting of climatic changes and greenhouse gas impacts are currently under consideration for investment and promotion, both of which align with the AIA’s focus on cross-industry agricultural issues of national importance and have the support of RDCs.
