Latin American seed fund NXTP Labs has joined hands with Australia’s agriculture technology startup accelerator SproutX in order to build a platform for young entrepreneurs in both the regions to share their ideas and technology solutions.
The incubators will arrange for startup employees to visit each other’s country for gaining international exposure. Besides building networks, they will also get to know whether they can launch their products on a global scale.
In addition, the start-ups will get access to co-working spaces that the accelerators are associated with in New Zealand, Israel, United States, Australia, and Latin America.
SproutX has recently launched the AgtechPassport initiative, which is specifically designed to set the stage for Austrian technology startups as they look to establish global connections.
To begin with, the partners will focus on Argentina, where agriculture is one of the biggest employers, accounting for nearly 12% of the country’s GDP. Moreover, Australia believes that Argentine farm production will increase by 8.3% to a record $63.8 billion in 2016-17.
Those backing the partnership include Qantas Airways, Australia’s top airline firm, the Argentinean government and The Australian Trade and Investment Commission (Austrade).
Qantas has reportedly agreed to extend the service of its flights for Australian agtech teams traveling to Argentina to survey the country’s agricultural sector and meet their potential partners.
Ricardo Negri, Argentina’s assistant minister for agriculture, has praised the agreement, saying technology can transform the country’s agriculture sector, creating jobs in both the agriculture and technology sectors.