Grow your agrifood business with Farmers2Founders
16 September 2022
In a time when innovation is crucial to the success of the agrifood sector, start-ups and new businesses need support, networks and guidance to be successful in a competitive market.
Farmers2Founders (F2F) is one of Australia’s largest agrifood support programs established to help industry members grow and transform their businesses. Since 2018, F2F has developed a series of pathways that assist in the development and commercialisation of new agricultural innovations and technology adoption.
MLA supports participants from the red meat industry to complete the F2F programs and gain knowledge in entrepreneurship and technological capabilities to solve critical industry challenges.
i-TRAK’s tracking traceability and development
One of F2F’s most popular programs, Harvest, equips high potential businesses with tools to scale into national and international markets, delivering transformational growth to their industry through jobs, revenue and production innovations.
Stage three Harvest participants i-TRAK have had vast development within their business structures, marketing strategies and technology courtesy of Farmers2Founders’ guidance.
i-TRAK aims to improve the accuracy of livestock identification and traceability through biometric assessment using revolutionary retinal scanning and facial recognition technology.
Operations Manager Simon Winter speaks on the specifics of these technologies and how i-TRAK is working to improve efficiency within the industry.
“The challenge is that these technologies are typically slow and impractical, so we are working with the University of Melbourne to improve our facial recognition software to make it as simple as scanning an animal in the race,” Simon said.
“This will be for the day-to-day but our main system for verification is our retinal scanning. It is all biometric, no tags or branding, it guarantees animal identity and immediately helps in decreasing animal theft.”
Their most recent work was showcased at the 2021 Beef Australia conference as a way of revealing the benefits of the technology and the F2F program to industry.
“The agri-tech space is booming with solutions looking for problems,” Simon said.
“Farmers2Founders gave us a structured approach to think about our business and assess whether there is real benefit for our industry.
“50% of start-ups fail because there is no market for their product, so I cannot overemphasise the importance of your value proposition.
“If you don’t get that right, people won’t support your business because you’re not providing proper value.”
Simon commended F2F’s Harvest program on their ability to cater to all forms and stages of business development.
With the help of the program’s experts, coaches and advisory meetings, i-TRAK has been able to understand the issues within their business and gain a clear understanding of their value to the industry and how they can attract partnerships with investors.
“Don’t underestimate the value of these programs,” Simon said.
“People think they know a lot but starting a business these days can be challenging, especially without a structured process.
“Everyone has their own expertise, and to be successful within a start-up, you need a range of that expertise.
“F2F offers a short-term mechanism through their incubator programs to support and understand the range you need and help your find the right networks for you to contact.”
