R&D tax incentive and development capital funder Superior, has cast a partnership with peak physique the Australian Agritech Affiliation (AusAgritech) to attach regional and rural companies with the R&D funding.
The partnership formalises a shared dedication to present regional innovation entry to the capital mechanisms that assist make it occur.
Superior has already supported regional and rural companies, together with agriculture, expertise, manufacturing, and life sciences with greater than $10 million in R&D financing this previous yr.
The R&D Tax Incentive is a federal authorities program that permits eligible companies to say again a good portion of their qualifying R&D expenditure. Superior helps corporations determine, entry and finance towards that entitlement so that they have the money once they want it, somewhat than ready for the federal government to ship the cheque.
Superior founder and CEO Alex Knight mentioned that for a lot of regional companies, the system can nonetheless really feel advanced, technical and tough to entry with out specialist help.
“There’s a persistent false impression that critical R&D solely occurs in cities,” he mentioned.
“The companies we work with throughout regional Australia are constructing issues that matter: in agriculture, in manufacturing, in expertise. They deserve entry to the identical strategic capital mechanisms as another enterprise.”
Advanced has facilitated tens of tens of millions in R&D funding to tons of of Australian companies because it was based in 2024. A choice may be made in 24 to 48 hours.
Knight mentioned that by partnering with the height nationwide physique for agritech in Australia, Superior is extending that attain additional into regional innovation communities, the place high-quality R&D is being undertaken each day.
“Regional companies are doing genuinely world-class R&D. The hole isn’t within the high quality of the work or innovation, it’s within the consciousness of what’s out there to fund it & the provision of capital,” he mentioned.
Superior was a part of Make investments Rural final November, which introduced collectively regional founders, buyers and funding specialists.
Make investments Rural cofounder Jo Palmer mentioned Superior has been a real companion getting funding to regional startups.
“Seeing capital of this scale movement instantly into regional companies is a robust sign that the urge for food is actual and the infrastructure to help it’s maturing,” she mentioned.
AusAgritech government officer Meg Lovegrove mentioned the partnership will give their group a trusted pathway into R&D financing by an Australian-owned funding specialist.
“Australian agritech corporations are fixing real-world agricultural challenges with globally related innovation, but many founders nonetheless face limitations accessing out there funding,” she mentioned.
“This partnership helps AusAgritech members higher navigate the R&D Tax Incentive and unlock non-dilutive capital to construct and scale their applied sciences.”
Extra at getadvanced.com.au
