The Yield to share in NSW Government’s $5 million Physical Sciences Fund

Sydney, 8 December 2022 – The Yield Technology Solutions Pty Ltd (“The Yield”) announced today that it has been selected to share in the NSW Government’s Physical Sciences Fund of $5 million.

The funding grant will help The Yield to extend its Precision Yield Management platform to create new value for customers through adding optimisation functionality and to enter new crops.

Ros Harvey, Founder and CEO of The Yield, was proud that the company was selected by the expert panel for a $1.78 million grant to commercialise its optimisation functionality.

“Food waste costs the Australian economy over $36 billion each year, with up to 25% of Australian crops never leaving the farm due to pests, disease handling or weather,” said Ms Harvey.

“Our customers are vertically integrated – growing, processing and packing as well as marketing their crops. Our new optimisation functionality will enable them to match on farm production to their value chain needs and constraints. This makes them more profitable whilst securing food supply chains and reducing waste. This was all key to our PSF application,” she said.

Minister for Science, Innovation and Technology, Alister Henskens, announced the four successful companies at an event held at Fishburners in the Sydney Startup Hub last night.

“NSW is home to some of the most brilliant researchers, innovators and entrepreneurs, who are working across a range of sectors, creating new jobs and growing our high-tech industries,” Mr Henskens said.

“The successful recipients are developing devices and applications which will deliver real-world benefits to our State in agriculture, communications, clean energy and construction, which will help grow the economy and secure a brighter future for NSW.”

NSW Chief Scientist & Engineer Professor, Hugh Durrant-Whyte, said the Fund continues to champion the growth of innovative industries in NSW.

“It is great to be able to celebrate four young companies who are developing technologies with great potential and starting out on their commercialisation journey.”

The Fund aims to deliver significant social, economic and environmental benefits to NSW by providing financial support across the branches of physical sciences and engineering, including physics, chemistry, astronomy and the earth sciences.

More information about the 2022 successful funding recipients can be found online while the Minister’s media release can be found here.