Canada has committed CAD153 million to the plant based protein industry to be matched by industry one for one through the Protein Industries Canada Supercluster.
The vision of the supercluster is “To position Canada globally as a leading source of high-quality plant protein and plant based co-products, developed in a carbon neutral production environment, while substantially contributing to Canada’s economic growth and international trade balance.”
This is projected to “create more than 4,500 jobs and add more than $4.5 billion to Canada’s economy over 10 years.” A not insignificant addition to GDP!
At some 3% Australia has a disproportionate GDP reliance on agriculture, forestry and fishing. This is higher than Israel, Japan, the US and canada at some 1%. Agriculture is projected to be worth $100 bn by 2030, similar to mining and construction, and yet is one of the least digitised sectors of the global economy1 and is Australia’s least innovative industry. What’s needed is some large scale government investment in the future of Agtech and Foodtech. This will position Australia for the future of food and steer us away from our traditional commodity mentality.
National Innovation leadership is sadly lacking and with the current government stating “The Government supports in principle this recommendation.” for 10 of the Innovation and Science Australia’s Australia 2030: Prosperity through Innovation recommendations. It “notes” 3 others. To see what “support in principle” means watch this video.