How the United States Studies Centre (USSC) defines AgTech when conducting sector-specific benchmarking studies of the industries in Australia, the United States and globally
AgTech is a nascent industry at the intersection of agriculture and technology. For this reason what is included and excluded in analysis of both the size of the current market and the future opportunity varies. To enable a comparison with global markets, AgTech is defined by the USSC as products and/or services which contain or are enabled by patented technology into the agriculture value chain.
Some definitions of AgTech, also referred to as ‘Agrifood Tech’, include technologies relating to consumer-facing components of the agricultural supply chain, such as restaurant and retail innovations — think e-commerce-enabled meal kits such as Blue Apron or HelloFresh. The definition used by the USSC does not include these sorts of technologies.1
How we classify AgTech technologies.