The Minister for Industry and Science, Ian Macfarlane, has approved the Food and Agribusiness Growth Centre which is part of the $225 million Industry Growth Centre Initiative. The Growth Centre headquarters will be located at the CSIRO’s Food Innovation Centre in Werribee, Victoria.
The four main areas the Growth Centre will be focusing on will be reducing regulatory burden, commercialising new products and services, engaging with global markets and supply chains, and improving workforce skills. Food Innovation Australia Ltd (FIAL) will receive $15.4 million from the Australian Government for the first four years of its operation as a Growth Centre, and look to increase this investment from industry and other sources.
The new Growth Centre board met for the first time on 29 June 2015, and various strategic issues relating to the food and agribusiness sector were discussed. Details about the forthcoming sectoral strategy that will be used to align the Growth Centre activities will be shared over the coming year.