The federal government has released the latest round of Industry Growth Program (IGP) recipients, alongside news that the program is going on indefinite hiatus following the 2026 Budget. Several food sector companies were awarded, including A-Culture Holding, Algenie, and VeraSys.
Launched in November 2023, the IGP program has now dispensed $201.5 million of the proposed $392 million, shared amongst 133 companies to date, supporting projects which “align to Australian Government priority areas for the National Reconstruction Fund and help build Australian manufacturing capability for the future.”
The latest round of food and beverage sector grants included:
- A-Culture Holding Pty Ltd – $1,700,129 to commercialise OZRAS, an innovative inland recirculating aquaculture system for the premium seafood market that utilises saline groundwater to produce high quality marine finfish in a controlled environment.
- Algenie Pty Ltd – $1,384,727 to commercialise the Algenie Mega, a patented revolutionary helical bioreactor and a suite of biotech and manufacturing tools to reduce the cost of algae production, taking bench and pilot studies to an industrial manufacturing system.
- VeraSys Pty Ltd – $2,223,226 to commercialise the CropSight service, an AI-powered aerial imaging sovereign solution for the Australian agriculture sector, targeting invasive weed management. The technology integrates a low-cost sovereign precision UAS platform with advanced AI and agronomy knowledge bank large language model processing. Beyond weed mapping, CropSight outputs tailored weed management planning, provides farmer decision support, and drives real improvement to crop yield and sustainability.
The latest round of successful applicants may be the last for some time, with the 2026 Budget announcing a savings measure from the Industry, Science, and Resources Portfolio – including savings of uncommitted funds from the IGP. The program’s advisory services stated the IGP was paused to new applications to enable time to implement the savings and consider design of the program. Previously, businesses could apply for the IGP at any time, with grants awarded on a rolling basis.
IGP has supported a wide range of food industry companies over the past few years, including hyper-fermentation biomanufacturing start-up, Cauldron Ferm, which received $4,277,616 in the very first round, announced in August 2024. One of the largest grants to date, it supported the construction of a new 10kl precision fermentation facility. Cultured meat start-up, Magic Valley, also received $100,000 through the program in February 2025, to support the scaling up of its production capacity and refining processes to prepare for commercialisation.
Methane-reducing companies Seascape Restorations Australia, Provectus Algae, and SeaStock have all received IGP grants for work with Asparagopsis.
The alternative protein sector has also been supported, with Harvest B receiving $2.2 million to develop its gluten-free Australian faba bean plant protein alternative to meat products, and Dairy-Free Down Under scoring $1.2 million to develop its processes and recipes for the manufacture of plant-dairy hybrid cheeses.
Eclipse Ingredients received $1,904,487 to facilitate the commercialisation of human lactoferrin (hLF) by ensuring operational, technical, regulatory and market readiness, in an IGP round that also supported brewed tea company, East Forged.
In a difficult time for food innovation, the IGP pause also follows a major restructure of Australia’s national science agency, CSIRO, with a proposed 52 net roles being cut from its Agriculture and Food division. The organisation is exiting ingredient innovation, precision fermentation, microbial technologies, and its national food innovation network – changes the food tech sector says leave a significant gap.
To stay updated, head to business.gov.au.
