New Zealand Attends The 2018 Silicon Valley Agritech Immersion Program
30 New Zealand agritech companies are off to the US to participate in the international 2018 Silicon Valley agritech immersion program and conference that will involve Callaghan Innovation, New Zealand Trade, Silicon Valley Forum, as well as Tauranga’s Wharf42.
Peter Wren-Hilton, New Zealand’s Agritech Executive Director stated that the Silicon Valley agritech connection, which was started four years ago, is expected to have a positive impact on the budding New Zealand agritech sector. The executive further added that the country needs to integrate agriculture and technology so as boost the export sector which largely constitutes of agricultural produce.
The Silicon Valley event will illustrate that New Zealand is strategically placed to provide products, knowledge, and services that are innovative, sustainable and modern. As such, a major announcement involving New Zealand is expected, which in turn should enable the country to advance on the global leading agritech stakeholders such as the United States, Netherlands and Israel. Ground-breaking innovations in the agricultural sector relating to artificial intelligence and the application of smart technologies in agriculture hold the potential to transform the sector for the better.
New Zealand invests approximately $750 million in research and development in the agricultural sector. Due to this, more and more digitisation of farming is occurring. Companies in New Zealand may be refunded up to 28% of any tax losses associated with eligible R&D activity with the R&D Loss Tax Credit.