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Beanstalk Agtech has announced the launch of the Drought Venture Studio. According to the company, it’s the world’s first venture studio dedicated to drought resilience. This initiative, backed by a $10 million investment from the Australian Government’s Future Drought Fund, aims to support the development of products and services tailored for Australian farmers.
The studio plans to take eight startups to market and provide hands-on commercialisation support to nearly 100 others within the first two years. According to Beanstalk, no equity will be taken.
The studio is currently taking expressions of interest from researchers, farmers, entrepreneurs and corporate innovators in the space.
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Tegan Jones is a senior technology journalist at SmartCompany. A multi-award-winning journalist, she has been reporting on technology, telecommunications and gaming for the past 10 years. She regularly appears on mainstream media channels as an expert tech commentator. Her previous roles include editor of Gizmodo Australia and global reviews editor at Finder. She has also served as a reporter and editor across Business Insider, Lifehacker and Kotaku Australia. Tegan was the co-host of one of the top technology podcasts in Australia, Queens of the Drone Age. You can find her on Twitter @Tegan_Writes.
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